Quebec blow molder Plastique Micron bought by investment firm

Quebec provincial financing agency Investissement Quebec and capital development fund Fonds de Solidarité have acquired 60 per cent of Quebec-based blow molding container maker Plastique Micron Inc.

The terms of the deal have not been announced.

“Plastique Micron will have to make significant investments in the coming years in order to continue to grow and to support its customers in their procurement objectives,” said Plastique Micron president Bernard Poitras in a statement. “These investments will be achieved through the addition of production lines at both plants as well as through an acquisitions strategy. In this regard, we expect to acquire two to three plants within the next five years. With Investissement Québec and the Fonds de solidarité FTQ as partners, the company will have access to capital to enable it to achieve its strategic objectives.”

Plastique Micron is headquartered in Sainte-Claire, Que. The firm specializes in molding plastic containers for the pharmaceutical, cosmetics, food, and industrial industries.

“For Investissement Québec, this acquisition is of particular importance as it contributes to maintaining the headquarters of an innovative manufacturer, a North American leader in its sector,” said Pierre Gabriel Côté, Investissement Quebec. “In addition, this transaction, carried out in partnership with the Fonds de solidarité FTQ, will facilitate the growth of an exporting SME that has developed cutting-edge expertise for more than 45 years.”