Montréal, October 10, 2007 –– The Solidarity Fund QFL (the “Fund”) is investing $3.6 million in Stedfast Inc., a high-tech textile company based in Granby, Québec. The funds will be used to optimize the firm’s competitiveness and growth.
“The Fund is very pleased to be associated with a company like Stedfast, which over the years, has managed to be successful in a traditional sector like textile. By creating innovative fabrics, the company found a way to stay in the game, and thanks to its highly specialized team, continuous investments in technology and R&D, and ability to develop new markets, including North America, the company has become an industry leader. The determination and business vision of its management team are commendable, and we are here to support Stedfast’s growth in every possible way,” said Gaétan Morin, the Fund’s Executive Vice-President, Investments.
The Fund’s investment comes at the right time in Stedfast’s development. Among other things, it will allow the company to pursue its R&D efforts in order to develop even more innovative processes and products to meet increasingly demanding quality and protection standards.
Stedfast is a North-American leader in high-tech fabrics. Used in protective clothing such as flame-retardant gear and apparel that restricts bacterial penetration, its products are found in the medical, industrial, maritime, civil and military sectors. For example, law enforcement officers, first responders, emergency medical personnel and workers in petrochemical plants all wear Stedfast coated and laminated protective clothing. Thanks to a dedicated team of engineers, chemists and technicians who make research and development a top priority, the company offers highly innovative, competitive products.
About the Solidarity Fund QFL With net assets of over $7.2 billion as at May 31, 2007, the Solidarity Fund QFL 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 1,696 companies. It currently has nearly 575,000 shareholders and has helped, on its own or with other financial partners, to create, maintain and protect over 122,000 jobs. For more information, visit
www.fondsftq.com.
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Note: The telephone number provided below is for the exclusive use of journalists and other media representatives.
Source : Josée Lagacé
Senior Advisor, Press Relations and Communications
Fonds de solidarité FTQ
Telephone : 514 850-4835
Email : jlagace@fondsftq.com