November reading rises to 58 on a scale of 100
Rivière-du-Loup, December 14, 2009 – Premier Tech is pleased to announce that it has obtained the disbursement of the second $15 million tranche of $30 million of unsecured, non-convertible bonds, as provided by the subscription agreement concluded with the Solidarity Fund QFL (the “Fund”) on February 25, 2009. The proceeds will be invested in the company’s working capital to support its development and growth strategies.
This financing is in keeping with Premier Tech’s vision and business plan aimed at ensuring its long-term growth and stability. “These funds will support and allow us to step up our initiatives, including acquisitions and strategic alliances, which have played a key role in our development for almost 45 years now,” said Premier Tech chairman and CEO Bernard Bélanger.
“Premier Tech has a very dynamic growth strategy. It knows how to seize opportunities, both in the industry and geographically, as we can see by its two recent acquisitions in the U.S. and Europe. We are proud to be associated with a Québec company that knows how to export its knowledge and business acumen abroad. We had a solid business relationship with Premier Tech for more than 20 years and are extremely happy to renew our partnership this year,” stated Gaétan Morin, the Fund’s Executive Vice-President, Investments.
About Premier Tech
For over 85 years, Premier Tech has been building its know-how and reputation on the expertise and synergy of its business units, structured around three groups – Horticulture and Agriculture, Industrial Equipment and Environmental Technologies – whose mission is to become technological and commercial leaders in their respective industries. Driven by a multidisciplinary team of over 1,700 people located in the Americas, Europe and Asia, Premier Tech focuses on the development of its team members, on innovation and on the introduction of value-added products and services to support its long-term growth.
About the Solidarity Fund QFL
The Solidarity Fund QFL helps drive our economy. With net assets of $6.4 billion as at May 31, 2009, the Fund is a development capital company that through its RRSP channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and to further Québec's economic growth. The Fund is a partner, either directly or through its network members, in 2,000 companies. It currently has nearly 571,000 shareholders and has helped, on its own or with other financial partners, to create, maintain and protect nearly 143,000 jobs. For more information, visit www.fondsftq.com .
– 30 –
Note: The telephone number provided below is for the exclusive use of journalists and other media representatives. Sources : Lynn Maurais
Directrice Bureau corporatif
Premier Tech
Telephone : 418 867-8883, ext. 6336
Telecopier : 418 862-6642
E-Mail : maul@premiertech.com
Josée Lagacé
Senior Advisor, Press Relations and Communications
Fonds de solidarité FTQ
Telephone: 514 850-4835
Telecopier : 514 850-4847
E-mail : jlagace@fondsftq.com