Montréal, June 1, 2015 – To mark its 10th anniversary, LISI Aerospace Canada, a subsidiary of French group LISI Aerospace, announced an investment of more than $12 million in a new production line that will make titanium assembly components for the global aerospace industry. The investment will allow the company to hire 116 skilled workers over the next three years and maintain some 60 jobs in Dorval in Greater Montréal.
On hand for the announcement made by Mr. Jean-Louis Colders, CEO of LISI Aerospace, were Mr. Jacques Daoust, Minister of the Economy, Innovation and Exports, and Mr. Jean Laurin, Vice President of the Board of Directors of Montréal International and President and CEO of NKF Devencore.
Using an innovative fastener technology, LISI Aerospace Canada will be able to meet increasing demand from aircraft manufacturers for titanium or titanium alloy parts and strengthen the competitiveness of the entire Canadian aerospace industry. “The new plant will help LISI Aerospace Canada increase its production capacity by around 40% and position itself as the group’s main integration centre,” said Mr. Jean-Louis Colders, CEO of LISI Aerospace. “Thanks to our globally recognized cutting-edge expertise, we can design and produce top-quality, highprecision parts used to hold plane or engine components together, by protecting them from contamination with oxygen, nitrogen, hydrogen or carbon during the forging process,” he added.
Mr. Colders also took this opportunity to thank the governments of Québec and Canada for their respective financial contributions.
Montréal International, the economic driver of Greater Montréal, is confident that the company’s offer will enhance and complete the value chain of Greater Montréal’s aerospace industry. “By creating new jobs and fostering the transfer of expert knowledge, this investment will strengthen the competitiveness of Canada’s aerospace industry in an extremely promising technology niche,” said Ms. Dominique Anglade, President and CEO of Montréal International. “LISI Aerospace will find everything it needs in Greater Montréal: a highly skilled workforce, competitive costs and a very supportive environment for R&D,” she added.
“Working with our investment development partners, we made every effort to help LISI Aerospace Canada expand its Québec operations and stand out in the LISI Aerospace group. LISI leveraged its expertise and Québec’s competitive advantages to show what it had to offer and successfully complete its project,” concluded Mr. Pierre Gabriel Côté, President and CEO of Investissement Québec.
Greater Montréal is a world leader in aerospace alongside global centres like Seattle and Toulouse. Québec’s aerospace industry ranks fifth in the world for number of jobs, behind the United States, France, Great Britain and Germany. Accounting for more than 43,500 jobs and over $12 billion in sales, the province’s industry is a network of prime contractors, top-rated equipment manufacturers and close to 200 small businesses.
About LISI Aerospace Canada
Created in 2005, LISI Aerospace Canada is the Canadian subsidiary of French group LISI Aerospace. The Dorval-based company produces high-performance aerospace fasteners used to hold plane or engine components together.
LISI Group is a global leader focusing on designing and manufacturing high-value-added assembly solutions. The Group’s three divisions, LISI Aerospace, LISI Automotive and LISI Medical, develop solutions for complex issues in innovative, value-added areas.
About Investissement Québec
Investissement Québec’s mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments, to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment.
About Montréal International
Montréal International (MI) acts as an economic driver for Greater Montréal to attract foreign wealth while accelerating the success of its partners and clients. Its role is to attract foreign investment, international organizations and skilled workers to Greater Montréal, and promote the region’s competitive environment. MI also works to find the best ways to position the region as an attractive investment destination, and make recommendations to various levels of government to support Québec’s job-creating, high-value-added industries.
Created in 1996, Montréal International is a non-profit organization financed by the private sector, the governments of Canada and Québec, the Communauté métropolitaine de Montréal (Montréal Metropolitan Community) and the City of Montréal.