LTA Aerostructures invests $90 million in Greater Montréal

Farnborough, England, July 15, 2014 – LTA Aerostructures (LTA), a specialist in the design, development and production of a new category of airships intended for the delivery of heavy or oversized loads, has chosen the Greater Montréal region to develop its activities in Canada. The company plans to invest $90 million over three years, creating 180 new jobs.

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LTA Aerostructures (transportation by airships), from left to right: Christopher Roe, Managing Director of Tantallon Group; Dominique Anglade, President and CEO of Montréal International; Michael Dyment, President and CEO of LTA Aerostructures.

Creation of 180 jobs in the aerospace sector

The announcement was made at the 2014 Farnborough International Airshow, attended by Jacques Daoust, Québec’s Minister of the Economy, Innovation and Exports, Michael Dyment, President and CEO of LTA Aerostructures, John Goelet, founder and majority shareholder of the U.S. parent company LTA Corporation, and Dominique Anglade, President and CEO of Montréal International.

“We are very honoured that LTA is developing this very environmentally friendly and forward-looking technology in Québec,” Mr. Daoust stated. “This highly innovative company can count on a skilled workforce and a unique network of research centres and businesses to support it in its development.”

The use of airships in transportation provides a cost-effective alternative in cases where the delivery of materials presents major logistical challenges. This form of transportation reduces the need to build often intrusive and ecologically harmful infrastructures. The technology can be used in remote and inaccessible areas without altering the natural ecosystem.

“Canada in general and Québec in particular represent a major market for transportation by airships in remote northern areas where there is an abundance of natural resources,” Mr. Dyment stated. “We have received superb support and encouragement from the aerospace community and from local authorities. We are eagerly looking forward to collaborating with numerous Québec companies.”

Greater Montréal: a global reference

Montréal International guided and advised the company in its project. “LTA’s project will add to the industry’s competitiveness in a highly promising technological niche,” stated Ms. Anglade. “By creating new jobs and conveying advanced knowledge, this investment will have major benefits for Greater Montréal.”

Greater Montréal is a world reference in aerospace, among the top international centres alongside Seattle and Toulouse. The Québec industry ranks fifth worldwide in sales, behind the United States, France, the United Kingdom and Germany. With more than 43,500 jobs and sales exceeding $12 billion, the aerospace sector brings together prime contractors, leading equipment manufacturers and a network of 190 small and medium-sized enterprises.

About LTA

LTA Aerostructures is a subsidiary of LTA Corporation, a U.S. company that has made major investments in the field of lenticular airships. LTA holds a broad portfolio of airship patents. The first prototype designed by the company had its maiden flight in 2009. John Goelet and Goelet LLC are the beneficial owners of LTA Corporation.

About Montréal International

Created in 1996, Montréal International is the result of a private-public partnership. Its mission is to act as an economic driver for Greater Montréal to attract foreign wealth while accelerating the success of its partners and clients. Its mandates include attracting foreign direct investments, international organizations and international strategic workers as well as promoting the competitive and international environment of Greater Montréal. Montréal International, a non-profit organization, is funded by the private sector, the governments of Canada and Québec, the Communauté métropolitaine de Montréal (Montréal Metropolitan Community) and the City of Montréal.

Since its creation, Montréal International has helped attract $10.6 billion in foreign direct investments to Greater Montréal. And these investments have contributed to creating or maintaining close to 52,000 jobs. To date, Montréal International has also supported almost half of the city’s 60 international organizations in setting up their operations in the area, while helping attract and retain more than 9,000 highly skilled foreign workers.

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