SGF Soquia participates to the implementation of Internova’s biological beverage manufacturing plant
QUÉBEC GOVERNMENT PARTICIPATES IN IMPLEMENTATION OF INTERNOVA BIOLOGICAL BEVERAGE MANUFACTURING PLANT IN VAL-BÉLAIR
Val-Bélair, May 31, 2001 – Deputy Premier and Minister of State for the Economy and Finance, Pauline Marois, Minister of Agriculture, Fisheries and Food, Maxime Arseneau, President and COO of SGF Soquia, Yves Milord, and President and CEO of Internova, Michel Gilbert, today attended the inauguration of an ultra-modern biological beverage manufacturing plant in Val-Bélair, in the Québec City region.
Investissement Québec is participating in the implementation of this project by guaranteeing two loans totalling $3,150,000 for the purchase of equipment and market development. "It is important to support companies like Internova, which create new jobs in the Capital City region and actively promote Québec products and know-how abroad. Investissement Québec contributes to the development of innovative companies by guaranteeing the financing of their ambitious projects in cooperation with financial institutions," emphasized Mrs. Marois.
LARGEST PLANT OF ITS KIND IN CANADA
This high‑tech plant, the largest of its kind in Canada, is designed to meet the demands of the U.S. market, as well as the strict U.S. standards governing biological products. Once it is up and running, the plant will be able to package fifty million litres annually, and its products will be distributed throughout the North American continent.
SGF, through its subsidiary SGF Soquia Inc., is investing $1.5 million in this $9.3 million project, which will create 25 jobs over a three‑year period. "When we were presented with the Internova project, we were immediately impressed by the innovative ideas that it offered, on both a technological and economic level. An in-depth analysis convinced us to get actively involved in the project by investing $1.5 million," said Mr. Milord.
"The implementation of this innovative project clearly illustrates the development opportunities offered to Québec agri‑food companies by the different levels of government. Projects such as that of Internova will allow the food processing sector to adapt to new market trends, in order to better meet consumer needs," said Mr. Arseneau.
HIGH-QUALITY BIOLOGICAL BEVERAGES
Founded in 1979, Internova already markets Grand-Pré milk in South America and the Caribbean, as well as soya beverages in the U.S.
The company offers a full range of YU(MD) and Earth Shake(MD) products. The YU (MD) biological line, containing high-quality natural products, includes 12 original soya- and rice-based blends. The Earth Shake(MD) line, aimed at young consumers, comprises six delicious soya-based blends.
Healthy and nutritious, these grain-based biological beverages represent an alternative to milk and juice, and meet the needs of consumers who are increasingly concerned about the quality of their food. Available in 18 unique flavours, these health drinks are destined for the Canadian (40%), U.S. (46%) and Puerto Rican (14 %) markets.
By investing 30% in share capital in Internova, SGF Soquia is supporting the implementation of an innovative project that offers attractive profitability prospects. SGF Soquia is a subsidiary of SGF. It’s mission is to carry out economic development projects, in cooperation with partners. Since its restructuring in 1998, Société générale de financement has generated $4.4 billion in investments, creating more than 19,400 direct and indirect jobs in the operations phase, not to mention the thousands of jobs created during the construction phase. As at September 30, 2000, the consolidated assets of SGF stood at nearly $2.2 billion. SGF has 52 international partners operating in Québec.
Investissement Québec is a government corporation whose mandate is to attract foreign investment and help develop businesses of all sizes, with the ultimate goal of creating jobs. In 2000 alone, it supported 82 investment projects in the Québec City region totalling more than $104 million, which will create 1,060 jobs over the next three years.
Office of the Deputy Premier
Société Générale de Financement
Office of the Minister of Agriculture, Fisheries and Food