DAVIE TO CREATE MONTREAL-BASED DIVISION TO INVEST IN CANADIAN FIRMS AND INNOVATION

• "Davie Capital" will manage major investments across Canada
• Focus on Davie's National Shipbuilding Strategy commitments
• Division will be based in Montréal with a Canada-wide focus

LÉVIS, QC, Dec. 14, 2021 /CNW Telbec/ - Davie Shipbuilding today announced that it will create an investment division called "Davie Capital" in Q1 2022.

Davie Capital will be based at the 1250 Rene-Levesque building in Montréal. It will identify, qualify and manage major investments across Canada as part of Davie's commitments under the National Shipbuilding Strategy (NSS) and other key programs.  Davie has already made multi-million dollar committments to key projects and over the next several years will, alongside its partners, deliver Canadian Content Value worth more than $8.5B.

James Davies, President & CEO, said: "Our vision and ambition to shape and lead the shipbuilding sector will see Davie Capital pursue a multitude of opportunities where we can deliver tangible, long-term value to Canada."

Mr Davies added: "As well as being a hub for our investment activity, the Montréal office will also act as a satellite office for Davie's core shipbuilding business. This will allow our growing number of Montréal-based staff engaged in a range of activities such as engineering, procurement and finance to work from either location."

With a strong emphasis on innovation, Davie will leverage contracts to benefit and ensure the economic sustainability of Canada's domestic shipbuilding and broader marine industry in three priority areas: human resources development; technology investment; and industrial development.

By partnering with leading academic institutions, established companies and startups, Davie's investments in Research and Development and the commercialization of new products and technologies will create significant economic and financial benefits for decades to come.

"Davie is now in a position of unprecedented strength and stability able to invest, grow and generate value. Our economic impact will increase exponentially, while supporting thousands of people employed directly and throughout our pan-Canadian supply chain," Mr Davies concluded. 

ABOUT DAVIE SHIPBUILDING

Based in Lévis, Québec, Davie is Canada's premier shipbuilder and a global leader in the delivery of specialist, mission-critical vessels to government and commercial customers. Founded in 1825, Davie is Canada's longest-established, largest and highest capacity shipbuilder. Our world-class workforce builds and sustains complex ships that enable our customers to protect national and economic security, or fulfill acute business needs. Find out more at davie.ca.

SOURCE Chantier Davie Canada Inc.

Denis Boucher, Public Affairs, Davie Shipbuilding, Tel: [phone] #2223, [email protected]