MONTREAL – The Caisse de depot et placement du Quebec is investing $7 million into CAD Railway Industries Ltd., a Lachine, Que.-based provider of rail car and locomotive repairs.
The Caisse said Monday it is acquiring a stake in CAD Railway and providing a loan as part of the purchase of the company by its president and chief executive Fausto Levy.
Get weekly money news
The Quebec-based pension fund manager said the investment in CAD Railway “is fully in line with the Caisse’s strategy to invest in promising and successful Quebec companies.”
- Alberta referendum costs climbing with another $365K in promotion, says Nenshi
- Edmonton city council faces urgent call to address downtown business closures
- Oil prices spike, global stock markets mixed as Iran war escalates
- ‘Death by a thousand cuts’: Half a dozen downtown Edmonton restaurants closing
“The management team’s expertise and vision, combined with the favourable long-term context of the rail industry, make this investment a concrete example of opportunities sought to generate a return for our depositors,” said Normand Provost, the Caisse’s chief operating officer.
CAD Railway is a 43-year-old company that repairs, remanufactures and upgrades freight, tank, locomotive and passenger rail cars.
Comments
Want to discuss? Please read our Commenting Policy first.