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Classified in: Business, Covid-19 virus
Subjects: JVN, SRI, ESG

Aerospace: The Fonds de solidarité FTQ and EDC Join Forces to Support Abipa's International Growth

The Fonds and EDC have been working together since fall 2020  to support business growth

BOISBRIAND, QC, Nov. 5, 2021 /CNW Telbec/ - The Fonds de solidarité FTQ (the "Fonds") and EDC are continuing the partnership formed in fall 2020 to support businesses during the pandemic. The two organizations have invested in ABIPA International, the new group formed by Abipa Canada and the French company Groupe ARM.

Together with institutional investors such as the Fonds, EDC is helping Canadian exporters through the Investment Matching Program, a new component of the Business Credit Availability Program (BCAP) created in April 2020.

"With its sector expertise in transportation and aerospace, the Fonds de solidarité FTQ is proud to contribute to the recovery of this industry, which has been hard hit by the pandemic. Having acquired Abipa Canada in 2012 in partnership with Jean Blondin and management, we are pleased to count on EDC to support the international growth of this flagship and thus participate in the long sought-after consolidation of this strategic industry for Québec. We plan to continue our close collaboration with EDC, in this and other key sectors, for the benefit of our partner companies," said Janie C. Béïque, President and CEO of the Fonds de solidarité FTQ.

"EDC is proud to partner with like-minded investors such as le Fonds de solidarité FTQ as we work together to support Canadian industry and the mid-market companies that power our economy," said Julie Pottier, Senior Vice-President, Channels and Marketing at EDC. "Partnering with the financial industry is key to supporting Canadian companies as they grow abroad and, in turn, generate benefits back to the Canadian economy. Through our joint investment via EDC's Investment Matching Program, we're pleased that Abipa received the capital they need to become a global leader in the aerospace industry and tap into even more international markets."

"Thanks to such flagship programs as the Accelerator 360°, supported by the Ministère de l'Économie et de l'Innovation and spearheaded by Aéro Montréal, we can support the internationalization and consolidation of Québec businesses. We are extremely proud to witness this new international success in large part due to the investments of the Fonds de solidarité FTQ and EDC. This transaction represents a true strategic merger of two companies with complementary expertise that will undoubtedly strengthen our Quebec aerospace cluster," concluded Suzanne M. Benoît, President and CEO of Aéro Montréal.

As part of the collaboration agreement between the two organizations, the Fonds and EDC have jointly invested in several companies in Québec since the beginning of the pandemic.

Since its creation in 1983, and as at May 31, 2021, the Fonds de solidarité FTQ network has invested $692 million in 36 companies in the aerospace sector, supporting 14,754 direct and indirect jobs.

About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ invests to build a better society by channelling the savings of its 723,501 shareholders into development and risk capital investments to help Québec transition to a green economy, to a human-centred world of work, and to a healthier society. The Fonds offers businesses unsecured financing and strategic support. With $17.2 billion in net assets as at May 31, 2021, the Fonds has supported 3,437 partner companies and 247,612 jobs.

About EDC
A financial Crown corporation, Export Development Canada (EDC) helps Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need?the trade knowledge, financing solutions, equity, insurance, and connections?to grow their business with confidence. Underlying all our support is a commitment to sustainable and responsible business. To help Canadian businesses facing extreme financial challenges brought on by the global response to COVID-19, the Government of Canada has expanded EDC's domestic capabilities until December 31, 2021. This broader mandate will enable EDC to expand its support to companies focused domestically.
For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca.   

SOURCE Fonds de solidarité FTQ

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