The proposed funding represents a pillar of a broader capital program intended to modernize the manufacturer's operations. By enlarging the plant and integrating specialized machinery, Groupe LAR aims to bolster its output in machining, welding, and industrial mechanics. This initiative runs parallel to separate modernization efforts currently underway at the company's Terrebonne site.
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ADF Group Secures C$10 Million Loan for Quebec Plant Expansion
ADF Group is set to secure a C$10 million loan from Investissement Quebec to bankroll a significant facility expansion for its subsidiary, Groupe LAR. The investment targets a C$40 million project in Metabetchouan-Lac-a-la-Croix, focused on scaling up steel-fabrication capacity to meet growing demand from the provincial hydroelectric market.
ADF Group is actively assembling a comprehensive financing package to cover these developments. Beyond the new loan from the provincial economic development agency, the company has secured a C$4 million agreement for the Metabetchouan project and C$1 million for the Terrebonne site through provincial programs. Furthermore, the firm expects a C$12.5 million contribution from Canada's Strategic Response Fund to finalize the capital requirements for its fabrication bay upgrades.
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