Rivière-du-Loup, March 11, 2009 – Premier Tech is pleased to announce that it has reached a financing agreement with the Solidarity Fund QFL (the “Fund”) for up to $30 million to support its growth. Of this amount, $15 million has already been approved by the Fund.
“This financing will accelerate our initiatives, including the acquisition of various businesses and strategic partnerships – alliances which have been key to the success and growth of the Company for the last 45 years,” said Bernard Bélanger, Chairman of the Board and Chief Executive Officer of Premier Tech.
“We’re particularly proud about this new transaction with Premier Tech because it allows us to reconnect with a team that we backed for more than 20 years, more specifically, until 2007. This company has become a beacon in its three primary areas of activity and in fact, is a North American leader in the field of horticulture. Present in several countries, the company has built a worldwide reputation in two other segments: industrial packaging equipment and environmental technologies. Over the years, Premier Tech has been able to innovate and seize business opportunities by developing a niche in sustainable development. Now the management team is dreaming bigger and aiming higher, and I’m proud that the Fund is again putting its resources and expertise to work to help the company achieve its growth objectives. This truly shows how much Premier Tech valued our past support,” said Gaétan Morin, the Fund’s Executive Vice-President, Investments.
About the Solidarity Fund QFL With net assets of $6.2 billion as at November 30, 2008, 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 1,881 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 126,000 jobs. For more information, visit
www.fondsftq.com.
About Premier TechFor 85 years now, Premier Tech has been building its know-how and reputation on the various technology-oriented opportunities offered by sphagnum peat moss, an abundant natural resource in Canada. Its seven business units, gathered in three groups Horticulture and Agriculture, Industrial Equipment and Environmental Technologies have the mission to become technological and commercial leaders in their respective fields of expertise. Buoyed by a multidisciplinary team of over 1 600 people located in America, Europe and Asia, Premier Tech is building on the development of its personnel, on innovation, research and development, and on the introduction of value-added products. Its strategic approach is supported by ongoing worldwide market development efforts.
Sources :
Lynn Maurais
Corporate Office Director
Premier Tech
Telephone: 418 867-8883, extension 6336
Fax: 418 862-6642
E-mail: maul@premiertech.com
Josée Lagacé
Senior Advisor, Press Relations and Communications
Fonds de solidarité FTQ
Telephone : 514 850-4835
Email : jlagace@fondsftq.com |