MONTREAL, May 1, 2012 /CNW Telbec/ - The Caisse de dépôt et placement du Québec announced today that it is increasing its stake in the Québec company Camoplast Solideal by buying back a portion of units from another shareholder. The Caisse's interest is therefore increasing from 23.8% to 28.3%.
"By increasing its interest in Camoplast Solideal, the Caisse is reaffirming its commitment to support this Eastern-Townships-based company that has carved out an enviable place both in the industry and globally," said Luc Houle, Senior Vice-President, Investments, Private Equity. "This buyback of a share of units demonstrates the confidence we have in the company and its management team."
The Caisse has been a partner in the company for more than 12 years; its first investment dates back to June 2000.
We recall that in November 2010, Camoplast acquired Solideal, a leader in the manufacturing of rubber tires for the construction and material handling industries. The Québec company, made up today of two entities, has more than 8,200 employees throughout North America, Europe and Asia.
ABOUT CAMOPLAST SOLIDEAL
Camoplast Solideal is a world leader in the design, manufacturing and distribution of off-road tires, rubber tracks, undercarriage systems and wheels for the construction, agricultural, industrial, powersports and defense markets. It also specializes in the design and manufacturing of body dressing parts, under-the-hood plastic components and assemblies, molded skis, engine covers, thermal and air induction systems for the powersports and automotive industries. As a strategic supplier to leading Original Equipment Manufacturers (OEMs), Camoplast Solideal delivers its products directly to their assembly lines. Most products are also distributed in the replacement market through a worldwide proprietary distribution network. www.camoplastsolideal.com
ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2011, it held $159.0 billion in net assets. As one of Canada's leading institutional fund managers, the Caisse invests in major financial markets, private equity and real estate. For more information: www.lacaisse.com.
Sarah-Émilie Bouchard
Senior Advisor and Writer, Media and Public Relations
514 847-5493
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