| Québec City, April 15, 2009 - The Minister of Finance and Minister of Economic Development, Innovation and Export Trade, Raymond Bachand, announced today that the Conseil des ministres has authorized a repayable contribution of $30 million for Bombardier Recreational Products Inc. (BRP), which specializes in the design, manufacture and distribution of motorized recreational vehicles. The financial assistance, planned to be provided in the near future, would be granted by Investissement Québec. Discussions with the company are now under way. The government support depends on an injection of capital by shareholders and the continuation of company's strategic operations in Québec.
"The proposed financial assistance would support BRP, a company that has worked for more than 50 years to build Québec's excellent reputation in recreational products, both at home and abroad, but that unfortunately has been hit hard by the economic situation. Our support would enable BRP to maintain its global leadership position," declared Minister Bachand.
BRP is a global leader in the design, development, manufacture, distribution and marketing of motorized recreational vehicles. Its portfolio of brands and products includes Ski-Doo® and Lynx® snowmobiles, Sea-Doo® personal watercraft and sport boats, Johnson® and Evinrude® outboard motors, direct injection technologies, including E-TEC® technology, all-terrain vehicles (VTT/Quad) and Can-AmTM roadsters as well as Rotax® motors and karts.
BRP employs 5,500 people around the world. Its manufacturing operations are located in six countries on three continents, and its products are sold in more than 80 countries. BRP uses the resources of three new centres dedicated to advanced research, including two in Québec, namely the Centre Design & Innovation Laurent Beaudoin and the Centre de technologies avancées ? a partnership between the Université de Sherbrooke and BRP.
"BRP's presence in Estrie contributes to the development of the region and the reputation of Québec worldwide. With more than 2,000 employees, BRP is the largest employer in Estrie. Supporting a leader like BRP is therefore crucially important to the Québec government for the sector, the region and the Québec economy. In 1959, BRP introduced its first Ski-Doo snowmobile. Since then, BRP has continued to innovate by expanding its line of motorized recreational vehicles and has been a source of pride for Quebecers," stated the Minister.
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Source:
Anne-Sophie Desmeules
Press Relations Officer
Office of the Minister of Economic Development, Innovation and Export Trade
418 691-5650 Information: Investissement Québec 1 866 870-0437 |