Drummondville, March 11, 2013-Nicolas Marceau, Minister of Finance and the Economy, and Yves-François Blanchet, Minister of Sustainable Development, Environment, Wildlife and Parks, have confirmed that the Québec government will contribute to the financing of a $43 million Soprema project in Drummondville. Soprema specializes in the manufacture of elastomeric bitumen waterproofing products for residential and non-residential buildings.
A subsidiary of the French multinational Soprema S.A., the Québec company will build the first plant in Québec to manufacture polyisocyanurate insulation boards for roofs. The Québec government is providing a $7.5 million loan and a non refundable $1 million contribution through Investissement Québec for this project. Some 56 direct jobs will be created over the next three years.
"If Québec businesses want to set themselves apart, they have to be bold and creative. That's why our government believes in supporting companies that invest to create jobs and export our know-how. We're continuing our efforts to offer them conditions that are even more conducive to private investment, which is a cornerstone of our economic vision. To ensure that all Quebecers benefit, we're committed to maintaining and enhancing a competitive tax system that stimulates businesses and encourages them to invest more," said Nicolas Marceau.
"Soprema is an international leader with operations in Asia, obviously Europe, Latin America, the Middle East, and here in North America. We should be delighted with Soprema's commitment to Drummondville, where it plays a leading role in the economy and community. Messrs. Voyer and Marceau are not just announcing an investment today-they're highlighting roots that indicate the unique relationship between the Centre-du-Québec region and Soprema is a long term one," declared Yves-François Blanchet.
Soprema owns four plants in Canada, including three in Québec, in addition to its R&D center in Drummondville. The company, which has over 280 employees in Québec alone, also manages sales offices in Asia, the Middle East, Australia, and Brazil.
"Our company has always stood apart for its new product development initiatives. We've experienced strong growth over the past ten years. Once we've set up this first major plant for this type of insulation in Québec, we'll be able to offer customers a complete roofing system. The Québec government's support for this project will help Soprema break through both the domestic and export markets," pointed out Richard Voyer, Vice President and General Manager of Soprema North America.
Soprema is also a major player in the Centre-du-Québec niche of excellence for technical textiles, which includes some 20 businesses that produce or integrate advanced textiles with added value. This niche stands apart for its varied range of manufactured products and growth markets, particularly for complex industrial processes, the protection of people, construction, and the environment. Technical textiles show good development prospects.
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Deputy Director and Press Officer
Office of the Minister of Finance and the Economy
Office of the Minister of Sustainable Development, Environment, Wildlife and Parks
Media Relations Manager - Mission Économie
Service des affaires publiques
Ministère des Finances et de l'Économie
418-691-5698, ext. 4868