Québec manufacturer PCM Innovation has acquired the U.S. company Lucas Industries, which will operate under the name PCM Innovation USA as an American division of the group.
PCM Innovation Group is a leader and integrator in the engineering, designing and manufacturing of tooling solutions for the aerospace industry. Lucas Industries specializes in precision aerospace tooling and has unique expertise in the machining of composite parts for helicopters. The new division, which has a plant in Vermont, will strengthen PCM Innovation’s position within North America.
"The synergies and the great complementarity between the two companies will allow us to respond effectively to the growing demand from American and Mexican markets, in addition to enhancing our know-how in the manufacturing of advanced composite tooling," said Jean-Francois Hamel, President and CEO of PCM Innovation. "Furthermore, having more direct access to the American market will make it possible to carry out large-scale projects by including the capacity of the Group's Canadian entities."
"Investissement Québec is carrying out its role by backing PCM Innovation Group’s acquisition of Lucas Industries, a strategic transaction that will allow a Québec company to put down lasting roots in the U.S. This move will bring PCM Innovation Group closer to its customers, particularly the aerospace industry in the northeastern U.S., and strengthen its position as a North American leader in composite tooling. It’s also a wonderful illustration of the globalization of our companies," noted Pierre Gabriel Côté, President and CEO of Investissement Québec.