St-Elzéar, November 15, 2021 – The Fonds régionaux de solidarité FTQ Gaspésie—Îles-de-la-Madeleine is granting Scierie de St-Elzéar a $4-million unsecured loan to upgrade its facilities. This investment will be used in the sawmill’s $21-million modernization project, which includes a new planing mill and the acquisition of innovative equipment.
“We’re very pleased to participate in the modernization of the St-Elzéar sawmill, which is the pride of its worker-owners and the Bonaventure RCM. We have confidence in the Gaspésie’s forestry sector. The industry is important to us, and we’re proud to invest in it once again,” said David Lord, Regional Vice-President of the Fonds régionaux de solidarité FTQ Gaspésie-Îles-de-la-Madeleine and Bas-St-Laurent.
“These investments will improve the working conditions of our members, increase productivity by 80% and ensure the sustainability of our cooperative, which operates in a rapidly changing and unstable market. We are grateful to the Fonds régionaux de solidarité FTQ for their financing, which will have a tangible impact on the quality of the jobs we offer and on the economic viability of our region,” said Mario Pouliot, general manager of the Association coopérative forestière de St-Elzéar.
About the Fonds régionaux de solidarité FTQ
Celebrating their 25th anniversary this year, the Fonds régionaux de solidarité FTQ help further regional economic development in Québec by channelling the savings of 723,501 Quebecers into local investments. The Fonds régionaux have invested $1.15 billion in 1,500 companies since their inception in 1996, supporting nearly 55,500 jobs.
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