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Premier Tech Announces a $111.2-M Investment
Premier Tech announced the launch of its new program, FAIRE: Fabrication Avancée et Innovation pour Renforcer l'Excellence (advanced manufacturing and innovation to strengthen excellence).
Reproduced by kind permission of Premier Tech
This major investment is intended to step up the company's technological and commercial leadership on its various markets. The first phase will involve the development of new products, services and innovative business offerings. In the second phase, leading-edge manufacturing technologies will be implemented so the company can remain competitive on international markets. The announcement was made following the signing of a $19.7-million financial partnership agreement with Investissement Québec.
For close to 90 years now, Premier Tech has been building its know-how and reputation by highlighting the competencies and synergies of its three business groups: Horticulture and Agriculture, Industrial Equipment, and Environmental Technologies .
Over its five-year term, FAIRE represents an overall investment of $111.2 million. This major strategic initiative will have a significant impact on development in the regions where Premier Tech is active. By the end of the investment period, FAIRE will have created 100 jobs, consolidated 1,000 more, including 700 in Rivière-du-Loup, and launched more than 100 new technological products and platforms.
“This financing agreement for the FAIRE program will ensure the longevity of Premier Tech's manufacturing operations in Québec and its innovation activities; it'll enable us to enhance our level of excellence and support our growth on the different markets where we're active,” commented Bernard Bélanger, Premier Tech's Chairman of the Board and Chief Executive Officer.