ADF Group Secures Financing for Expansion Projects in Quebec

📅 2 weeks ago

ADF Group Inc. plans to enhance its facilities in Quebec with significant financial backing from Investissement Québec and the federal government.

TERREBONNE, QUE. – ADF Group Inc., a key player in the production of steel structures for both building and infrastructure projects, has announced intentions to finalize a financing agreement with Investissement Québec. This deal could provide the company with a loan of up to $10 million aimed at supporting its Métabetchouan project. The initiative, which will be executed through ADF’s subsidiary, Groupe LAR Inc., encompasses enhancements to its existing plant located in the Saguenay-Lac-Saint-Jean region of Quebec, in addition to the construction of a new extension adjacent to the current facility and the acquisition of modern equipment.
The undertaking in Métabetchouan will run concurrently with a modernization project at ADF’s facilities in Terrebonne, Quebec. As part of its growth strategy, the company has also secured a loan agreement under Quebec’s ESSOR program, which is managed by Investissement Québec. This agreement totals $5 million, which includes $4 million allocated interest-free specifically for the Métabetchouan project and $1 million that will incur a fixed interest rate of 4.1 percent for the Terrebonne project.
Further supporting its expansion plans, ADF Group has reached an agreement with the federal government through its strategic response fund. The federal funding could amount to as much as $12.5 million, with half of this amount being non-repayable and the remaining half available as a repayable loan without interest. This comprehensive financial support signifies a robust commitment to enhancing ADF's operational capabilities and expanding its production capacity in Quebec.
The proposed financing marks a significant step for ADF Group as it seeks to bolster its market position in the competitive steel structure manufacturing sector. By modernizing its facilities and acquiring new equipment, ADF aims to improve efficiency and productivity, ultimately positioning itself for future growth in both domestic and international markets.

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