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Press Room
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Société générale de financement du Québec announces $37.5 million investment in Induspac
Influx of development capital will enable Induspac to pursue its international growth strategy
Montreal, October 2, 2007- Société générale de financement du Québec (SGF) has entered into a partnership agreement with Induspac Group (Induspac) for an investment worth $37.5 million.
Founded in 1977 by its current President, Paul Gaulin, Induspac is a high-performance company with its head office in Montréal. Since its inception, it has developed specialized, extremely high-value-added packaging solutions for the aeronautics, automotive, medical technology, telecommunications and electronics industries. The company’s expertise extends beyond the design and manufacturing of packaging solutions, however, enabling it to provide services such as end-to-end management of major international corporations’ packaging portfolios.
Induspac is present in five countries and is seeking to grow its operations in Canada, Mexico and the United States as well as expand into the high-growth markets of Eastern Europe. The company employs 1,500 people at 29 operations sites.
“This investment by SGF arrives at a watershed moment in our corporate development,” Mr. Gaulin said enthusiastically. “This partnership will enable us to increase the size of our distribution network and in turn ensure better penetration on the international markets. We will be looking to acquire strategically positioned smaller companies and incorporate our business methods and network into theirs. This will ensure we remain an active player in the international consolidation of the packaging market.”
Pierre Shedleur, President and General Manager of SGF, spoke with pride of the partnership with Induspac. “This investment reflects SGF’s willingness to help high-performance Québec companies achieve their development plans, both in North America and internationally. This particular partnership is in keeping with our third strategic orientation and our commitment to investing in companies in the forest-products sector that are building on high-growth markets,” he explained.
Québec’s Minister of Economic Development, Innovation and Exports, Raymond Bachand, took advantage of the announcement to reiterate the government’s intent to contribute to the restructuring of the forest-products industry following the new realities it must now face. “Induspac is an innovative company with an international outlook, and these are the two foundations for Québec’s economic development in the context of globalization. I therefore welcome this partnership with one of our most high-performance companies,” he said.
About Induspac
Induspac was founded in 1977 by Paul Gaulin. Early on, the company became specialized in the integrated packaging market in response to certain clients in the high-tech sector. It then experienced rapid growth in the latter half of the 1990s, in part through partnerships with the telecom industry. Following the downturn in that industry after 2000, Induspac greatly diversified its product lines, vertically integrated its foam and plastic components production, and achieved significant international expansion.
www.induspac.com
Société générale de financement du Québec (sgfqc.com) is an industrial and financial holding company. Its mission is to carry out economic development projects, especially in the industrial sector, in cooperation with partners and in accordance with accepted requirements for profitability and the Government of Québec’s economic development policy.
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Sources:
Marie-Claude Lemieux
Senior Communications and Media Relations Advisor
Société générale de financement du Québec
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