Construction to start on the CIRCUIT FOIL Plant in Granby Investment of CAN$130 million
Granby, April 27, 2000 - Many dignitaries attended today’s press conference in Granby announcing that construction on the Circuit Foil America plant, which represents an investment of CAN$130 million, will start in the middle of May. Deputy Prime Minister and Minister of State for the Economy and Finance Mr. Bernard Landry, and His Royal Highness Prince Henry of the Grand Duchy of Luxembourg said they were very happy about this new cooperation between Quebec and Luxembourg and the economic ties that would henceforth unite them.
Mr. Landry said “it was an important step for Quebec’s position in the printed circuits and electronic components industry, given the efforts made by the Government of Quebec to develop this sector”.
Pierre Laflamme, President and Chief Operating Officer of SGF Tech Inc., a subsidiary of Société générale de financement du Québec (SGF), welcomed “this new partnership in which SGF holds 49% to support the creation of this new copper foil manufacturing plant”. Investissement Québec is also a major partner in the project, contributing CAN$8.7 million through its FAIRE program.
President of Circuit Foil Luxembourg Michel Hacart said he was “very pleased to see this project get off the ground”. He added that “North America is the largest market for copper foil and the advantages Quebec has, in terms of a specialized work force and the availability of low cost electrical power, were an overriding factor”.
Also at the press conference was Michel Duchesneau, Mayor of Granby, who, on behalf of everyone involved in the region’s economy, “very enthusiastically welcomed the arrival of this new investor and the creation of 140 new jobs in his municipality”. The VIPs also attended the announcement of the unveiling of a new road to be called “rue de Luxembourg”.
The mission of Société générale de financement is to realize industrial projects meeting normal profitability requirements, in collaboration with business partners. Since 1985, SGF has generated investments of about CAN$6.7 billion, leading to the creation of 22,000 direct and indirect jobs. As of December 31, 1998, consolidated assets totalled CDN$1.8 billion. Companies in which the SGF holds an interest had a total asset base of CAN$10 billion. SGF has 38 international partners operating in Québec.
Vice-President, Communications and Public Relations