IPL wins two big contracts

Saint-Damien, Que.-based IPL Inc. has announced that it has won two new contracts for a total of up to $12 million.

The first calls for IPL to produce nearly ten different plastic components to be used in the assembly of waste collection containers, which will be placed along the City of Toronto’s main arteries. Production is expected to begin in December 2008, and IPL anticipates sales of $6 million from this contract over the next six years.

IPL has also received a contract to produce the parts to be used in the manufacture of the new generation of Frigidaire-brand electric and gas ranged by Electrolux. The company will begin to produce control and service panels to be supplied to the Electrolux plant in l’Assomption, Que. in February 2009. The new line of appliances is expected to be in production for at least three years, and should generate annual revenues of $1.5 to $2 million for IPL.

“These contracts are an invigorating development for IPL, and attest to our ability to stand out and offer a range of high-quality solutions to a diversified clientele,” said IPL president and CEO Serge Bragdon. “These agreements open the way to renewed growth for our Engineered Products sector in the industrial segment, and will help strengthen IPL’s leadership and our penetration within a highly competitive market.”