Manac gears up for growth

North American OEM, Manac, has closed a major financing deal to expand and modernise its operations.

The close of $170 million in financing with Investissement Québec, BDC and Desjardins will catalyse the company’s growth strategy.

Specifically, the expansion of its largest manufacturing plant, established since 1967 in Saint-Georges, Quebec, as well as the deployment of new sales and service centres in Quebec and elsewhere in Canada.

“Maintaining an efficient, competitive manufacturing site for over 55 years in a highly cyclical industry is quite a challenge and requires the commitment of many partners,” said Manac President and CEO, Charles Dutil.

“The project we have just initiated is designed to enhance our competitiveness and maintain the trust of our customers and partners for many years to come.”

In other news, FedEx has reportedly ended the financial year in a strong position.

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