Premier Tech

Premier Tech
Fonds de solidarité FTQ

Fonds de solidarité FTQ

December 15, 2009 14:08 ET

The Fonds de solidarite FTQ Helps Finance Premier Tech's Growth

RIVIERE-DU-LOUP, QUEBEC--(Marketwire - Dec. 15, 2009) - Premier Tech is pleased to announce that it has obtained the disbursement of $15 million in unsecured, non-convertible debentures, corresponding to the second half of the $30 million provided by the subscription agreement concluded with the Fonds de solidarite FTQ on February 25, 2009. This amount has been invested in the Company's working capital to support its development and growth strategies.

This financing is in keeping with Premier Tech's vision and business plan aimed at ensuring its long-term growth and stability. "These funds will support and allow us to step up our initiatives, including acquisitions and strategic alliances, which have played a key role in our development and growth for almost 45 years now," said Premier Tech's Chairman and CEO Bernard Belanger.

"Premier Tech has a very dynamic growth strategy. It knows how to seize opportunities, both in the industry and geographically, as we can see by its two recent acquisitions in the U.S. and Europe. We are proud to be associated with a Quebec company that knows how to export its know-how and entrepreneurship abroad. We had a solid business relationship with Premier Tech for more than 20 years, and are extremely happy to renew our partnership this year," stated Gaetan Morin, Executive Vice-President, Investments for the Fonds de solidarite FTQ.

About Premier Tech

For over 85 years, Premier Tech has been building its know-how and reputation on the expertise and synergy of its business units, structured around three groups - Horticulture and Agriculture, Industrial Equipment and Environmental Technologies - whose mission is to become technological and commercial leaders in their respective industries. Driven by a multidisciplinary team of over 1 700 people located in the Americas, Europe and Asia, Premier Tech focuses on the development of its team members, on Innovation and on the introduction of value-added products and services to support its long-term growth.

About the Fonds de solidarite FTQ

The Fonds de solidarite FTQ helps drive our economy. With net assets of $6.4 billion as at May 31, 2009, this development capital fund, 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 Quebec's economic growth. The Fonds de solidarite FTQ is a partner, either directly or through its network members, in 2 000 companies. It currently has nearly 571 000 shareholders and has helped, on its own or with other financial partners, to create, maintain and protect nearly 143 000 jobs. For more information, visit www.fondsftq.com.

Contact Information

  • Premier Tech
    Corporate Office
    Lynn Maurais, Director
    418-867-8883, ext. 6336
    418-862-6642 (FAX)
    maul@premiertech.com
    or
    Fonds de solidarite FTQ
    Josee Lagace
    Senior Advisor, Press Relations and Communications
    514-850-4835
    514-850-4847 (FAX)
    jlagace@fondsftq.com