Prefinished flooring maker PG Hardwood Flooring Inc. (St-Edouard-de-Lotbiniere, Quebec) recently announced it has secured $2 million in financing from The Fonds de solidarité FTQ, a development capital fund that works to contribute to Québec's economic growth.
In addition to PG, The Fonds holds investments in other wood products companies, including Scierie Dion et Fils (hardwood supplier for PG) and Perthuis (a forest landowner with which Scierie Dion operates). The investment will be made at PG's plant in Saint-Édouard-de-Lotbinière, which employs 130 workers in processing, varnishing, drying and warehousing.
In addition to relying on The Fonds' vertical integration, PG will look to the investment company for future planning. "We are also counting on their expertise to help us with our succession plan," said Claude Garneau, president of PG.
