Metal 7 Acquires Equipment Manufacturer Enduride, Quebec
Sept-Îles, March 1, 2017 – To better serve its customers, Metal 7 Inc, has acquired Enduride (Enduride Canada-USA Inc and Technologies Enduride Inc), a specialized manufacturer of a wide range of rollers and idlers for power-driven or gravity conveyors located in Quebec City, Quebec.
"Enduride is a dynamic young company that designs and manufactures a specialized range of conveyor rollers and idlers for the primary industry. Enduride's patented technologies coupled with our expertise in surface engineering allow us to add product lines that fit perfectly into our mission to deliver high performance solutions and to increase our customers' productivity "said Mr. Marc-André Gervais, President and Chief Executive Officer of Metal 7 Inc.
"This transaction will allow Enduride to access a well-established local and international sales network. Metal 7 equips more than 50% of the iron ore pellet plants around the world, excluding China. This will give us access to a very large market. In addition, Metal 7 is recognized for its innovative capabilities for both, its products and its processes. The combination of our respective expertise will allow us to accelerate the development and commercialization of new solutions and to increase our own productivity" added M Simon Douville, General Manager of Enduride Inc.
Metal 7 is a manufacturing company located in Sept-Iles serving primary industry since 1974. It specializes in the design and manufacture of high performance equipment for the iron ore and aluminum industries and it distinguishes itself from the competition by its expertise in surface engineering (coating). Metal 7 exports more than 75% of its production in over 20 countries and its exports are mainly outside of North America.
Enduride is the first acquisition of a comprehensive expansion and consolidation plan to create a flagship high value-added products and services business dedicated to the primary industry, an internationally recognized company," finally mentioned Mr. Bruno Fortin, Chairman of the Board of Directors of Metal 7 Inc.
Metal 7 Inc. was acquired in April 2014 by a consortium of shareholders which includes Fonds de Solidarité FTQ, BDC Capital, Fondaction CSN, Fonds régional de solidarité FTQ Côte-Nord, NCP Investment Management Inc. and the senior top managers.
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