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Professional Services
July 2, 2008
Ontario Teachers’ Pension Plan backs Railpower expansion
BROSSARD, Que.
Railpower Technologies Corp. says that its shareholders have approved a $20-million investment in the company by Ontario Teachers’ Pension Plan to help finance construction of a manufacturing facility in Saint-Jean-sur-Richelieu, Que.
The plant, geared to production of hybrid locomotives, will have 55,000 square feet of production space and 4,000 square feet of offices, with plans for future growth.
The new investment by Teachers’, like a $35-million investment in the company earlier this year, is a five-year debenture paying five per cent annual interest.
Canadian Press
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