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Metal 7 Inc. from Sept-Îles, has acquired Les Équipements Mégatraction Inc., a manufacturer specialized in mining equipment, located in Quebec

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Metal 7 Inc. from Sept-Îles, has acquired Les Équipements Mégatraction Inc., a manufacturer specialized in mining equipment, located in Quebec

Canada NewsWire

SEPT-ÎLES, QC, Aug. 9, 2018 /CNW Telbec/ - To broaden its range of highly specialized products and solutions for the mining industry, Metal 7 Inc. announces the acquisition of the manufacturer «Les Équipements Megatraction Inc.», which is headquartered in Quebec City.

« Megatraction is a company that designs and manufactured a specialized range of lifting equipment for heavy electric shovels or hydraulic excavators used by the mining industry. Its patented technologies coupled with our expertise in international trade allow us to add a range of products that fit perfectly into our mission of delivering high performances solutions that increase our customer's productivity », to add Mr. Marc-André Gervais, President and Chief Executive Officer of Metal 7 Inc.

« Megatraction has the best technology of the industry but, because of its size, it was mainly limited to North American markets. With our commercial and financial capabilities this transaction will enable Megatraction to develop international markets and to accelerate the development of its range of solutions » to say Mr. Gervais. « The size of the global market is huge. The expertise and resources of Metal 7 7 will be catalysts to propel Megatraction » added Mr. Robin Belley, General Manager of Les Équipements Megatraction Inc.

Metal 7 is a manufacturing company serving the primary industry since 1974. It specializes in the design and manufacture of high performance equipment for the mining industries and aluminum smelters and it distinguishes itself from the competition by its expertise in engineering and its international sales network.  Metal 7 exports more than 75% of its production in over 20 countries and its exports are mainly outside of North America.

« The acquisition of «Les Équipement Megatraction Inc.» is part of our expansion and consolidation initiative aiming to create a leading Canadian based company offering high value products and services for the mining sector, a company whose expertise is internationally recognized » finally mentioned Mr. Bruno Fortin, Chairman of the Board of Directors of Metal 7 Inc.

Metal 7 Inc. is owed by a group of shareholders that includes Fonds de Solidarité FTQ, BDC Capital, Fondaction, Fonds régional de solidarité FTQ Côte-Nord, STAS Inc. and the senior top managers.

About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital fund that channels the savings of Quebecers. With net assets of 14,3 billion dollars as of May 31 2018, the Fonds helps create, maintain or protect over 170,000 jobs. The Fonds is a partner, either directly or through its network members, in 2 839 companies and with over 667 417 shareholders-savers.

About BDC Capital
BDC Capital is the investment arm of BDC, the only bank in Canada which is dedicated solely to entrepreneurs. With more than $3 billion under management, BDC Capital is a strategic partner to Canada's most innovative and high potential firms. It offers a range of equity, venture capital and flexible growth and transition capital solutions for start-ups as well as for transition companies. BDC Capital supports Canadian entrepreneurs scale their businesses into global champions. Visit bdc.ca/capital

About Fondaction
Fondaction invests in Québec SMEs in order to help maintain and create jobs in Québec, within a context of sustainable development. It manages over $1.9 billion in assets from retirement savings collected from 156,000 shareholders. Through its investments or commitments, either directly or by way of partner or specialized funds, Fondaction supports the development of more than 1200 Québec SMEs who contribute in a distinctive way to the economic, social and environmental development among which there are several social economies. Visit www.fondaction.com  

 

SOURCE Fonds de solidarité FTQ

View original content: http://www.newswire.ca/en/releases/archive/August2018/09/c6874.html

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