Que. wood flooring manufacturer receives $7M for robotics

A wood flooring manufacturer in Quebec is receiving $7 million in investments to purchase robotics and improve its automated processes.

Capital investment funds Fonds de solidarité FTQ and the Fonds régionaux de solidarité FTQ Québec (FRS) made the joint investment in Preverco, a manufacturer of solid and engineered wood flooring.

Founded in 1988, Preverco has fared well during the COVID-19 pandemic, thanks to major technology investments made in the past two years in its equipment and plants in Saint-Augustin-de-Desmaures, Daveluyville and Boisbriand.

The company also operates its own sawmill, ensuring it has a constant supply of wood.

“Technology transition allows Quebec manufacturers to better face increasingly stiff global competition and take their rightful place on the international stage,” says Frédéric Bernard, regional vice-president, Fonds régionaux de solidarité FTQ, Québec City and Chaudière-Appalaches regions, in a statement.

“Our investment in Preverco is consistent with our mission to actively contribute to the growth of SMEs that play a key role in the prosperity of our regions.”