Reopening of Lebel-sur-Quévillon plant will have a positive effect on the Québec economy and forestry industry
Lebel-sur-Quévillon, November 8, 2019 – The Fonds Valorisation Bois (FVB) is investing $25 million in Nordic Kraft to support the reopening of the kraft pulp mill in Lebel-sur-Quévillon. The announcement was made at a press conference held today and attended by the financial partners.
Created by the Québec government and the Fonds de solidarité FTQ, and managed by the latter, the FVB provides financial support to forest product companies with good long-term economic potential looking to invest for the future.
“The reopening of the plant by Nordic Kraft is the result of years of work by many people committed to the forestry industry’s success,” said Janie Béïque, Executive Vice-President, Investments, at the Fonds de solidarité FTQ. “This is a major project for Lebel-sur-Quévillon that will have a tangible effect on the lives of people well beyond the region. It’s an important project for all Québec sawmills that will rebalance the wood chip market, and we're proud to be a part of it.”
“Chantiers Chibougamau first became a partner of the Fonds de solidarité FTQ in 2011. With this project, we are once again showing our confidence in the team headed by CEO Michel Filion, who spearheaded this project. Without his dedication, it would never have come to fruition,” said Dany Pelletier, the Fonds’ Investment Vice-President, Strategic Capital, Energy, Environment and Mines.
The Fonds’ investment is subject to the usual closing conditions.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $15.6 billion in assets as at May 31, 2019, the Fonds has supported 215,104 jobs. The Fonds has 3,126 partner companies and more than 700,000 shareholders-savers.
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