Premier Tech announces an investment of 111.2 million dollars

RIVIÈRE-DU-LOUP, QC, May 7, 2012 /CNW Telbec/ - Premier Tech has announced today, in the presence of Québec's Premier and Member for Sherbrooke, Mr. Jean Charest, the launch of its program FAIRE - Fabrication Avancée et Innovation pour Renforcer l'Excellence (advanced manufacturing and innovation to strengthen excellence), which aims to accelerate the company's technological and commercial leadership in its markets. The objectives of this major investment are to develop new products, services and innovative commercial offers, and to implement leading-edge manufacturing technologies in order to remain competitive on international markets. The announcement is made following the signing of a financial partnership agreement totaling CA $19.7M with Investissement Québec.

FAIRE represents a global investment of CA $111.2M, and will be deployed over a period of five years. This important strategic initiative will have considerable impacts on the development of the regions in which Premier Tech is active. At the end of the investment period, FAIRE will have led to the creation of 100 new jobs, the consolidation of 1000 others, including 700 in Rivière-du-Loup, and the launch of over 100 new products and technological platforms.

This program reasserts Premier Tech's long-term commitment towards mastering its manufacturing activities and innovation process. It also solidifies the company's current foundation, and lays the direction of Premier Tech's growth and expansion for the next ten years.

"This financing agreement for the program FAIRE will secure the perennity of Premier Tech's manufacturing activities in Québec and its Innovation activities, thus increasing the company's level of excellence. Altogether, it will support the company's growth in the various markets where it is present," explained Bernard Bélanger, Premier Tech's Chairman of the Board and Chief Executive Officer.

Corporate profile
For close to 90 years, Premier Tech has been building its know-how and reputation on the expertise and synergy of its three groups - Horticulture and Agriculture, Industrial Equipment and Environmental Technologies. They have one mission: to become technological and commercial leaders in their respective industries. Driven by a multidisciplinary team of over 2 300 people located in the Americas, Europe and Asia, Premier Tech focuses on the development of its team members, on Innovation, and on the introduction of value-added products and services to support its long-term growth.