Press Releases

Québec, the Main Gateway for Companies Seeking to Grow and Prosper in North America

Victoriaville, June 12, 2014 –Jacques Daoust, Minister of the Economy, Innovation and Exports, is proud to announce, on the occasion of the Rendez-vous du transport 2014, organized by the Pôle d'excellence québécois en transport terrestre, that Leroy Automation, Garos Avionique and NEOTEC are establishing operations in Québec. These three new subsidiaries of French companies were guided in their expansion by Investissement Québec, which helped promote the advantages of Québec as an excellent place to invest to ensure the growth of their North American operations.

“With its advanced expertise and vigorous industrial base, Québec is a global hub for the aerospace and land transportation sectors,” Minister Daoust stated. “These new start-ups are the result of close collaboration with the key players in economic development, with the aim of increasing the competitiveness of Québec’s manufacturing sector. In addition to contributing to creating direct jobs, these companies will help stimulate economic activity throughout the value chain.”

LEROY AUTOMATION

With an established reputation going back more than 30 years, French company Leroy Automation specializes in the design and manufacturing of embedded electronic products for the railway and energy sectors. Based near Toulouse, it has 45 employees and a prestigious client list that includes Alstom, Siemens, Thales and SNCF. Leroy Automation recently signed manufacturing agreements with Québec company M2S, leading firm in the electronic design and manufacturing services industry. This investment will enable Leroy Automation to enter the supply chain and create eight new high-quality jobs. Support from Investissement Québec, the Pôle d'excellence québécois en transport terrestre and Kassar International consultants was essential in making this start-up a reality.

GAROS AVIONIQUE

Garos, founded in 1988, specializes in the design and installation of force sensors for high-value-added niche markets such as aerospace, shipping, energy, nuclear power and land transportation. Its expertise in extensometry enabled it to win an initial contract in Québec and launch its plans to set up a business here. The Québec subsidiary, Garos Avionique, will manufacture force sensors for the U.S. and Chinese markets and create 10 new jobs in the Dorval area.

NEOTEC

NEOTEC is a maker of road-rail vehicles and motorized vehicles for the rail and land transportation sectors. Created in 1991, the company develops innovative patented technologies, particularly vehicle transmission systems, axles and rail bogies, and construction machinery. NEOTEC’s clients include major prime contractors, among them Airbus, Alstom TGS, Balfour Beatty, Colas Rail and Caterpillar. With support from Investissement Québec, the Québec subsidiary, which is located in Beloeil with local partner F. Drapeau consultants, is building a facility to design and manufacture railway machinery and axles for the North American market. The project is expected to create 12 new jobs in the next three years.

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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