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Farnborough Airshow
SGF invests with Amphitech International Inc. in a $10.5 million project
Farnborough, July 23, 2002 - Québec Deputy Premier and Minister of State Economy and Finance, Pauline Marois, attended the announcement made by Martin Bissonnette, President of Amphitech International Inc., and François Chagnon, Vice‑President, Development, Transportation Material, of the Société générale de financement du Québec (SGF), regarding an investment of $5.5 million by SGF in Amphitech. This investment will enable the latter to complete the certification and marketing of its Obstacle Awareness System (OASys). The total project amounts to $10.5 million, and other investors include the Fonds de Solidarité FTQ and Innovatech du Grand Montréal as well as private investors.
"Through this investment, said the Deputy Premier, Amphitech will launch a unique, high-tech, high value‑added product for the aeronautical sector. We are thus consolidating a high-tech industry in Québec, with Montréal leading the way."
Amphitech (www.amphitech.com) specializes in the research and development of obstacle detection systems for transportation equipment and aerospace, and is a leader in the 35 GHz radar technology sector. After four years of development, it is preparing to deliver its first product for the helicopter industry, OASys, in the next six months. Amphitech is based in Laval and presently has 30 highly qualified employees. This project will create another 35 jobs.
Every year, about 250 accidents involving helicopters occur in North America. OASys will help save lives by significantly reducing the risk of collisions which helicopters are exposed to on a daily basis (wires, towers, terrain, etc.). With this system the pilot can detect the presence of an obstacle up to one nautical mile (1.8 kilometers) away. No other system to date has achieved such a high degree of precision, in weather conditions such as fog, snow, smoke and rain both night and day.
The objective of the project is to ensure the long-term growth of Amphitech by supplying it with sufficient capital to complete the certification of OASys, market the product and diversify its product line for military and civilian applications based on radar technology, such as a synthetic vision system for aircraft, the detection of unauthorized traffic on airport, taxiways and runways, a weather radar function and an autonomous collision-avoidance system for unmanned aerial vehicles (UAVs).
SGF’s mission is to carry out economic development projects in cooperation with partners and in accordance with accepted requirements for profitability. Since it was restructured in 1998, SGF has generated investments of nearly $7.5 billion and created more than 43,000 direct and indirect jobs. As of December 31, 2001, SGF’s consolidated assets totaled over $3 billion. SGF has 57 international partners operating in Québec. (sgfqc.com)
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Source :
Jean-Yves Duthel
Vice-President, Communications and Public Relations
SGF
Martin Bissonnette
President
Amphitech International Inc.
Nicole Bastien
Office of the Deputy Premier and Minister of State Economy and Finance
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