Press Releases

Montréal, June 28, 2012 - Sam Hamad, Minister of Economic Development, Innovation and Export Trade and Minister responsible for the Capitale-Nationale Region, and Jean-Marc Fournier, Minister of Justice, Government House Leader and Member for Saint-Laurent, today confirmed $15 million in funding for Aerolia Canada-a $5 million non-refundable contribution and a $10 million interest-free loan from Investissement Québec. This government financial support will enable Aerolia Canada, a subsidiary of French firm Aerolia SAS, to set up its headquarters and assembly plant in the greater Montréal area.

Aerolia Canada, which specializes in aeronautic structures, will build an assembly plant to supply the centre fuselage for Bombardier's Global 7000 and 8000 aircraft. The project, which includes designing the fuselage, building the plant, and acquiring specialized equipment, represents a total investment of $82.4 million in Québec.

"This is a major, strategically significant project for Québec's aerospace industry," said Sam Hamad. "We worked closely with our public sector prospecting partners and Montréal International Airport to bring in a top-caliber aerostructure integrator. The Québec aerospace industry is well served by a highly trained workforce and a network of leading universities and research centres ready to build bridges with players all across the industry. These factors combine to make Québec fertile ground for a company like Aerolia."

"This is great news for the region, because the project will strengthen an industry already thriving in Québec," added Jean-Marc Fournier, Member for Saint-Laurent. "In 2011 our aerospace industry alone accounted for over 42,000 jobs and $11.7 billion in sales. This new project could create over 150 direct jobs in the province-and that's not counting the indirect jobs we can expect with Aerolia Canada's suppliers. It will also strengthen Québec's position as a world aerospace leader."

In 2011, Aerolia SAS boasted 2,900 employees and sales of €864 million, i.e., $1.18 billion. The company is a subsidiary of the EADS Group, which employs some 130,000 people worldwide. EADS is a shareholder in Airbus, the largest civil aircraft manufacturer in the world (followed by the US firm Boeing and Canada's Bombardier). With this new plant in Québec, Aerolia aims to become the second-largest integrator in the world.

"Québec government support was decisive, along with the high quality of North American suppliers, in our decision to set up headquarters in Saint-Laurent, Québec. Greater Montréal has a large pool of aeronautics firms, making it a strategic location for our assembly plant: close to Bombardier, and a suitable base for developing our operations serving the North American market," said Christian Cornille, President of Aerolia SAS.

About Investissement Québec 

Investissement Québec's mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees, and equity investments, to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment.

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Source:

Myrianne Felteau

Assistant Press Officer

Office of the Minister of Economic Development, Innovation and Export Trade and Minister Responsible for the Capitale-Nationale Region

Tel.: 418-691-5650

For information:

Guy Berthiaume

Media Relations Manager

Ministère du Développement économique, de l'Innovation et de l'Exportation

Tel.: 514-499-2199, extension 5905

Investissement Québec

1 866 870-0437