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Canada's Magazine for Financing & Leasing Executives

April 29 , 2013

Baldor announces a capital investment in its Ste-Claire, Quebec facility

STE-CLAIRE--Baldor, a member of the ABB Group says Investissement Québec has agreed to support investments in the Baldor St-Claire facility. The investment is intended to increase production capacity and modernise its equipment in preparation for moving a production line from Mexico to Quebec.

The Ste-Claire management team successfully demonstrated to Baldor's headquarters in the U.S. the benefits of transferring four types of products from Baldor's facility in Mexico to Ste-Claire. "We appreciate the confidence that Investissement Québec has placed in Baldor," says Chris Poynter, Vice President of the Discrete Automation and Motion division for ABB in Canada. We are pleased to announce that those investments will result in new jobs to increase production and that we demonstrated that our Quebec base manufacturing can be as competitive as any of the other site that we consider.

"This financial assistance will enable us to upgrade our production equipment, gain access to a growing market, as well as help us develop expertise and increase sales," says Pierre Boutin, Plant Manager for the Ste-Claire facility, in the Bellechasse region.

On April 3, 2013, Baldor was recognized for its contribution to the regional economy at the 6e Gala des sociétés en Bourse 2013. It won the top prize in the category "Regional investment - Public company based outside the Québec City region and Chaudière-Appalache."The annual event recognizes and celebrates the strategic role head offices play in driving economic vitality, innovation and creativity in the regions surrounding Québec City.

Baldor's Ste-Claire facility has been in business for almost 50 years. It employs about 175 employees. It specializes in the design, production and marketing of top quality power transmission product components for a large range of industrial applications. Baldor is renowned for developing superior custom solutions and personalized customer service. In January 2011, Baldor was acquired by ABB and is now a proud member of the ABB Group.

ABB is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 145,000 people.

In Canada they employs about 3,000 people in more than 45 centers from coast to coast. We primarily serve customers in the utilities, mining and metals, oil, gas and petrochemicals, aerospace, life sciences and semiconductor markets. Our headquarters are based in Ville Saint-Laurent, Quebec.



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