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Victoriaville, November 18, 2013 – Nicolas Marceau, Minister of Finance and the Economy, announced today that Investissement Québec has granted a $16.5-million loan to Sural Québec, a subsidiary of Sural Group, for construction of a new, modern aluminum alloy rod manufacturing facility. The start-up project, which will require a total investment in excess of $45 million, will help strengthen the Québec aluminum industry and is expected to create more than 50 direct jobs once the plant is fully operational.
“Sural Québec’s project is perfectly aligned with the launch of the new Québec aluminum industrial cluster, which is designed to double Québec’s aluminum processing capacity over a period of 10 years,” Nicolas Marceau said, adding: “Québec’s aluminum industry expertise and the availability of raw materials here have played a key role in making Québec a favourable location for investing in this new plant. I am certain this project will help attract other aluminum processing companies to Québec.”
Sural Group, headquartered in Caracas, Venezuela, is a leading manufacturer of aluminum-based value-added products. Established over 35 years ago, the company has two subsidiaries in Québec: Intral, which specializes in aluminum wire and other products, and Sural Québec, which is in the process of opening a facility in the Victoriaville industrial park.
“The significant contribution from Investissement Québec has enabled us to make this expansion project a reality,” explained Dr. Alfredo Riviere, President, Sural Group. “Our new plant, scheduled to be officially opened in 2015, will feature state-of-the-art technology that will help us produce 45,000 metric tonnes per year and increase our market competitiveness. We are very proud indeed to have solid financial partners like Investissement Québec, which believed in our start-up project and provided guidance and support while we put together our financing package.”
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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