When international subsidiaries are given operational autonomy by their parent companies, they can either sit in the nest or fly. Ultra Electronics chose to soar.
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Funcom opens a studio in Montréal
The Norwegian firm Funcom recently announced the opening of a Montréal studio specializing in the development and publishing of massively multiplayer online (MMO) games.
A Korean company sets up shop in Gatineau
MtekVision relocated its Canadian subsidiary to Gatineau this past spring.
Beenox pursues its growth in Québec City
The Québec subsidiary of the US company Activision has just moved into a new studio in Québec City.
Expansion at Soprema
Soprema, a company specializing in the manufacture of waterproofing membranes and products, inaugurated its new Drummondville plant this past July.
Seminar for businesses in the Estrie
Investissment Québec will be holding a seminar on October 14, 2009, in cooperation with its regional partners, for heads of subsidiaries located in the Estrie.
According to a survey by the United Nations Conference on Trade and Development (UNCTAD), 2010 will see a gradual resumption of foreign direct investment (FDI), a trend expected to gain momentum in 2011. The organization’s World Investment Prospects Survey 2009–2011, which is based on responses from some 240 companies, revealed that the worldwide economic and financial crisis had a devastating effect on the FDI programs of multinationals in 2009.
Fully 85% of the companies surveyed in 2009—compared to just 40% in 2008—reported that they had been severely affected by the economic slowdown, compromising their investment plans. In addition, 58% of the multinationals that responded to the survey said they intended to reduce their FDI in 2009.
Like a dozen of her colleagues at Investissement Québec’s International Affairs Division, Nathalie Rivard works exclusively with subsidiaries of foreign companies located in Québec. As a result, she has a keen understanding of their concerns and a detailed knowledge of the services available to ensure their growth. "I’m here to help my clients distinguish themselves from their sister subsidiaries and to support them when they present investment proposals to their parent company," explains Rivard.