Scierie Lapointe & Roy reopens sawmill
By Fonds de solidarité FTQ
Nov. 1, 2016 - A family business founded in 1980, Scierie Lapointe & Roy transforms small-size resinous wood into softwood lumber. In July 2014, a fire destroyed much of the plant, including the main building housing the sawmill.
Léopold Lapointe, the company's president since inception, wanted to reopen the plant as soon as possible. With the support of his son, daughter, son-in-law and grandson, Mr. Lapointe can now say "Mission Accomplished!" Following a $7.5 million project, of which a projected $1.5 million in preferred shares issued to the Fonds Valorisation Bois (FVB), Scierie Lapointe & Roy now boasts a plant on the cutting edge of technology.
"Thanks to the perseverance of Léopold Lapointe and his family, 18 people will be able to go back to work at Scierie Lapointe & Roy. With an experienced family at the helm and the investment of the Fonds Valorisation Bois, which was used to bring the plant to the cutting edge of technology, the future is bright for this regional SME," said Janie Béïque, Senior Vice-President, Industries, Entertainment and Consumer Goods, at the Fonds de solidarité FTQ, which manages the FVB.
"We're proud to see that our efforts to reopen the sawmill have paid off. Thanks to the support of our employees and partners like the Fonds Valorisation Bois, we've restarted operations and are optimistic about the future," said Mr. Lapointe.
Scierie Lapointe & Roy saws and transforms resinous wood into timber for the home construction and renovation markets. Its main products are 8', 9' and 10' 2x4s. The company specializes in small-diameter raw logs.
"Despite the many challenges facing the forest products sector, including the lumber negotiations with the United States, the Fonds de solidarité FTQ will always be there for Québec business owners like the Lapointe family. This is a key sector of the Québec economy and a priority in the Fonds' strategic plan," added Normand Chouinard, Executive Vice-President, Investments, at the Fonds de solidarité FTQ.
The Fonds de solidarité FTQ is a development capital investment fund that uses the saving of Quebecers. With net assets of $11.7 billion at May 31, 2016, the Fonds contributes to the creation and maintenance of 187,414 jobs. The Fonds is a partner of more than 2,600 companies and has 618,551 investors-shareholders. www.fondsftq.com
The Fonds Valorisation Bois is a $170 million fund created to financially support forest product companies with a good long-term economic potential looking to invest for the future. The Fonds de solidarité FTQ, which invested $75 million, is responsible for its management.