The Fonds de solidarité FTQ is pleased to announce a $2 million investment in PG Hardwood Flooring, a family business in Chaudière-Appalaches that manufactures high-grade prefinished hardwood flooring.
PG obtains all its hardwood from Scierie Dion et Fils, a company in which the Fonds invested in 2010. The quality hardwood comes from forest land belonging to Perthuis, a company owned by the Fonds (through its subsidiary Solifor) and Gestion Dion. This is therefore a singular vertical integration model in Québec, where all three parties are experts in their respective fields (harvesting, lumber milling and flooring).
Founded in 1979, PG is the largest employer in Saint-Édouard-de-Lotbinière with 130 workers in an almost fully automated plant. The company has a processing plant, a varnishing plant, a lathing plant (straightening), kilns and outside warehouses for unprocessed wood.
“After investing heavily in equipment and partnering with Scierie Dion et Fils, making it the only company in its industry with guaranteed supply, PG Hardwood Flooring is poised to become a key player on the Québec market. We are proud to back the company’s growth strategy, which includes successful vertical integration that begins with Solifor’s forests, continues with primary processing by Dion and ends with secondary and tertiary processing by PG,” said Janie Béïque, Senior Vice President, Natural Resources, Industries and Consumer Goods at the Fonds de solidarité FTQ.
“Our partnership with the Fonds de solidarité FTQ, which has tremendous knowledge of the forestry sector, will allow us to consolidate our leadership and capitalize on business opportunities that may arise. We are also counting on their expertise to help us with our succession plan and facilitate the company’s transfer in the medium term,” added Claude Garneau, President of PG Hardwood Flooring.
Fonds de solidarité FTQ Invests $2 Million in PG Hardwood
June 18, 2012