Premier Tech Announces a $251.2M Investment in Québec

RIVIÈRE-DU-LOUP, QC, Nov. 26, 2020 /CNW Telbec/ - Premier Tech is pleased to announce a $251.2M investment in the presence of Mr. Pierre Fitzgibbon, Minister of Economy and Innovation, Ms. Marie-Eve Proulx, Minister for Regional Economic Development and Minister responsible for the Chaudière-Appalaches, Bas-Saint-Laurent and Gaspésie-Îles-de-la-Madeleine regions, and Mr. Denis Tardif, Member for Rivière-du-Loup–Témiscouata. This announcement follows the signing of a contribution agreement in the form of a $45 million repayable, interest-free loan between Premier Tech and Investissement Québec.

This major investment by Premier Tech is part of a substantial acceleration of the company's investments in manufacturing and Innovation, Research and Development (IR&D). This will take place over a five-year period and will allow Premier Tech to increase its IR&D activities, accelerate its digital transformation and intensify its manufacturing operations in Québec through the deployment of innovative manufacturing tools. This investment program also intends to develop new markets and accelerate the company's international outreach by developing and perfecting several of its software and business platforms.

In addition to consolidating the operations and strengthening the teams working at the Premier Tech World Headquarters, located at its Rivière-du-Loup Campus, this investment will lead to the creation of some 500 new jobs in Québec, allowing the company to reaffirm its ongoing commitment to reinforce its presence in Québec and support its international development.

"Over the years, Premier Tech has been able to identify promising development and growth opportunities and implemented a unique and unparallelled innovation force within its various businesses around the world. Our significant growth directly reflects our sustained and ongoing investments in Innovation, Research and Development, and in the continuous improvement of our business processes," says Jean Bélanger, president and chief executive officer of Premier Tech.

About Premier Tech
Making a difference, this is what we are all about at Premier Tech. One team driven by a shared passion to deliver solutions that will better the lives of people, businesses and communities. At Premier Tech, People and Technologies connect in lasting, transformative ways, giving life to products and services that help feed, protect and improve our world. We are committed to creating sustainable solutions that help bring beautiful gardens to life, increase crop yields, improve the efficiency of manufacturing facilities, treat and recycle water, and much more as we keep innovating.

For more than 95 years, Premier Tech has been growing internationally, driven by the collective power of its 4 600 team members in 27 countries, of which over 1 000 are based in Québec, mainly in Rivière-du-Loup. Backed by a quarter-century-long track record of solid growth, Premier Tech today records sales of one billion dollars.

People and Technologies making a difference
To learn more about Premier Tech, visit www.premiertech.com and follow twitter.com/_PremierTech.

SOURCE Premier Tech ltée