Economic News/Trends and Analysis — August 26, 2010

Fonds de solidarité FTQ invests $5.5 million in Foliot Furniture, a leading manufacturer of residence hall furniture

MONTREAL, Aug. 26 /CNW Telbec/ - Committed to helping Québec firms boost productivity and remain competitive, the Fonds de solidarité FTQ ("Fonds") has invested $5.5 million in Foliot Furniture ("Foliot"), a manufacturer of residence hall furniture headquartered in St-Jérôme.

Considered one of North America's five major players in this activity sector, Foliot is now making inroads into the hospitality market. This development strategy consolidates the roughly 150 jobs in Québec, particularly the strategic design, operations and marketing positions.

"We are proud to back Foliot's expansion in this fiercely competitive market, where it has succeeded in standing out thanks to dynamic management, flexibility, and innovative, quality products. Our capital will allow Foliot to not only conquer a new market but to boost its competitiveness by purchasing new equipment. The furniture industry is still one of the biggest provider of manufacturing jobs in Québec, and as an investor, the Fonds continues to play a strategic role in this regard," stated Gaétan Morin, the Fonds' executive vice-president of investments.

"Our expansion into the hospitality market will reduce the seasonality of our business. We're convinced that our shared vision with the Fonds, underpinned by team expertise and a customer and action driven approach, will take us even farther," said Foliot president Daniel Foliot.

Aside from its head office in the Laurentians, Foliot has a plant in Greenville, Tennessee, and recently opened another in Las Vegas. In peak periods, the company employs over 600 people.

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ helps drive our economy. With net assets of $7.3 billion as at May 31, 2010, the Fund is a development capital investment fund that channels the savings of Quebecers into investments in all sectors of the economy to help further Québec's economic growth. The Fund is a partner, either directly or through its network members, in 2,052 companies. With its 577,511 owner-shareholders, it has helped, on its own or with other financial partners, to create, maintain and protect 150,133 jobs. For more information, visit www.fondsftq.com.

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