Groupe Meloche Invests $17.5 Million to Continue Its Growth - Fonds de solidarité FTQ invests $7.2 million

SALABERRY-DE-VALLEYFIELD, QC, Dec. 15, 2017 /CNW Telbec/ - In the years ahead, the growth of Groupe Meloche will be fuelled by delivery of several new aircraft, including Bombardier's Global 7000 and CSeries aircraft, the Airbus A320 Neo and Boeing's 737 Max. To support the company in this new stage of its development, which requires $17.5 million of investments, the Fonds de solidarité FTQ is investing $7.2 million.

Founded in 1974 in Salaberry-de-Valleyfield, Groupe Meloche provides Tier 1 suppliers and original equipment manufacturers (OEM) with aero structure and aero engine products using a vertical integration strategy that includes precision machining, surface treatment, painting, assembly and non-destructive testing. The company has four manufacturing sites near Montréal, including one in Bromont and a head office in Salaberry-de-Valleyfield. Groupe Meloche has 180 employees, more than 40 CNC turning and machining centres, and over $55 million in annual sales.

Quotes

"Groupe Meloche has spent the last 10 years positioning itself to seize opportunities in the field of next-generation aircraft. Our recent certification by Pratt & Whitney (PWA), Safran and Airbus speak to these efforts. With these new investments, we will continue to adopt the Industry 4.0 technology that manufacturers will need to be successful in the future."
Hugue Meloche, President and Chief Executive Officer, Groupe Meloche

"The Fonds de solidarité FTQ has been backing Groupe Meloche since 2011. This new investment is perfectly in line with our strategic planning, which calls for prioritizing innovation and the aerospace sector."
Gaétan Morin, President and Chief Executive Officer, Fonds de solidarité FTQ

SOURCE Fonds de solidarité FTQ