Press Releases

MONTRÉAL, July 12, 2012 - Jean-Marc Fournier, Minister of Justice, Government House Leader and Member for Saint-Laurent, announced today that Pfizer Canada will be awarded a non-refundable financial contribution of $2,670,000, through Investissement Québec, for an investment project estimated at $31.7 million. The announcement was made on behalf of Sam Hamad, Minister of Economic Development, Innovation and Export Trade and Minister responsible for the Capitale-Nationale region.

"Pfizer is a major economic player in the Montréal area, and this project is a clear sign the company plans to maintain its operations in our community," Fournier said. "With this investment, the Saint-Laurent plant can stay at the cutting edge of technology and be even better positioned to win new manufacturing contracts. By supporting this project, our government is reiterating its commitment to make Québec a creative, innovative, enterprising and welcoming place."

The project is aimed at increasing the production capacity of Pfizer Canada's plant in the borough of Saint-Laurent in Montréal. It involves enlarging and upgrading the manufacturing facility that will be used to produce more than 4.4 billion multivitamin tablets each year. The new equipment and facilities include a high-speed automated bottle packaging line, a compression machine, two more blenders and coating machines, two new dispensing rooms and additional storage space.

"Québec is considered a leader in the biopharmaceutical sector, and this project will bolster that reputation," said Yolande James, MNA for Nelligan and Minister of Families. "We have to help our companies maintain and strengthen their international position through practical, innovative measures for dealing with global economic turbulence and the challenges of competition. Today's announcement strengthens Pfizer Canada's presence and employment base in Montréal, specifically on the West Island where its head office is located."

Pfizer Inc. is one of the world's largest pharmaceutical companies, with revenues of more than $67 billion. Its subsidiary, Pfizer Canada, which is headquartered in Kirkland, employs close to 2,700 people, including about 1,800 in Québec. It is considered one of Québec's major employers.

"This investment is another example of Pfizer's commitment to maintaining a very strong presence in Québec," said John Helou, President of Pfizer Canada. "It also reflects the success of our colleagues at the Montréal facility, who meet the high quality and performance standards that enable the site to win and maintain global manufacturing contracts."

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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Sources:

Daria Hobeika

Directrice de cabinet

Cabinet du ministre de la Justice

418 643-4210

Olivier Duchesneau

Attaché de presse

Cabinet de la ministre de la Famille

418 643-2181

Information:

Jean-Pierre D'Auteuil
Media Relations Officer
Service des affaires publiques
Ministère du Développement économique, de l'Innovation et de l'Exportation
418 691-5698, ext. 4868

Investissement Québec

1 866 870-0437