Press release

Sherbrooke, June 19, 2014 – Over the past year, the Fonds régionaux de solidarité FTQ in the Estrie region supported the development of three businesses in the region, in addition to its contribution toward creating and maintaining more than 387 jobs. These noteworthy results, drawn from the annual financial statement of the FTQ Fonds régionaux de solidarité, demonstrate the major economic role played by this business network in Québec’s regions.

“The employees of the Fonds régionaux de solidarité FTQ in Estrie all hail from the region, as do the members of our Board of Directors,” confirmed Charles Lahaye, CEO of the Fonds régionaux de solidarité FTQ in the Estrie region. “We wish to facilitate financing for business succession, support our clients in their growth and acquisition projects and offer financing solutions adapted to the needs of businesses in our region.”

Thanks to the support of 615,000 Quebecers that are saving for their retirement as shareholder-owners of the Fonds de solidarité FTQ, several major projects received financial support from the Fonds régionaux de solidarité FTQ in the Estrie region in 2013. For example, Armoires NAC, a company that designs and manufactures custom kitchen cabinetry, bathroom vanities and built-in furniture, obtained a $350,000 investment to help the company support growth and its distribution network in the United States. The company has close to 60 employees.

The 16 regional funds and 86 local funds of the Fonds de solidarité FTQ benefit from the resources and support that are available across the network. “The strength of our network relies on the fair and adequate integration of our global vision and our regional outlooks,” claims Luc Pinard, President and CEO of the Fonds régionaux de solidarité FTQ. “With assets of $9.7 billion and more than 2,400 partner companies, the Fonds and its network have the resources required to provide concrete support for the economic development of Québec’s regions.”

The network also includes the Fonds immobilier de solidarité FTQ, which acts as an economic catalyst by investing in real estate projects in the residential, commercial, office and industrial real estate sectors. The Fonds fulfills this role by forging partnerships with real estate developers and builders that are active across the province. At May 30, 2014, the Fonds immobilier had 30 buildings under its management and 18 million square feet of land to develop, with $54 million dollars earmarked for affordable housing, social and community development, and 30 real estate projects with a total value of $1.6 billion currently under development.

Since its inception, the Fonds de solidarité FTQ and its network have invested more than $170 million in Estrie, thus contributing to creating and maintaining more than 16,000 jobs in the region.

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Information for media representatives only:

Patrick McQuilken

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