The parent company of Penticton’s Peerless Limited has secured significant financing to grow its operations.
Manac, which is North America’s largest manufacturer of custom-built and specialized commercial trailers, has secured $170 million in financing from Investissement Québec, BDC and Desjardins.
The money will enable the manufacturing company to accelerate the innovative technological shift at its Saint-Georges, Que., plant “to consolidate its appeal as an employer of choice in the Chaudière-Appalaches region and maintain its position as the Canadian leader in the manufacture of commercial semi-trailers,” according to a press release.
Manac manufactures its trailers at plants in Penticton, where Peerless has been in operation since 1944, Saint-Georges, Laurier-Station, Que., and Val-des-Sources, Que., and Oran, Mo.
“We are grateful to all our partners for their continued confidence in our company,” Manac CEO Charles Dutil said in a press release. “Our team is guided by an ambitious vision and a strong focus on continuous improvement. This new financing is an important element in supporting our objectives. It will enable us to adapt our St-Georges plant to the changes in semi-trailer dimensions permitted by regulation, improve our productivity by integrating innovative technologies, and broaden the scope of our offering by setting up new sales and service centres in Quebec and Canada.
“Maintaining an efficient, competitive manufacturing site for over 55 years in a highly cyclical industry is quite a challenge and requires the commitment of many partners.”
