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Solidarity Fund QFL Invests $8 million in Positron Technologies
6/28/05
MONTREAL, Jun 28, 2005 (Canada NewsWire via COMTEX) --

The Solidarity Fund QFL (the "Fund") is pleased to announce an $8 million investment in Positron Technologies Inc. ("PTI"), a leading high-tech equipment manufacturer in the electronics industry. The Fund's investment will allow PTI to position itself as a major player in the Québec industry and offer a new line of value-added products.

Located in Kirkland, Quebec, Positron Technologies specializes in printed circuit board and box build assembly for OEM (Original Equipment Manufacturers). PTI is the partner of choice for EMS (Electronic Manufacturing Services) in Québec.

"The Fund's participation will allow us to continue our rapid growth. Our development strategy is clear and simple: we want to become Canada's leading supplier and offer products that meet the requirements of the industry and electronic equipment manufacturers," stated Positron Technologies Chief Operating Officer, Luc St-Georges, whose ambitions are backed by a team of managers and electronics experts that has what it takes to meet the company's development objectives.

The Fund's financing along with other financing from the Quorum Investment Pool Limited Partnership, the Royal Bank and Canada Economic Development will be used to set up new facilities, purchase equipment and increase working capital.

For the Fund, this investment comes on the heels of the closure of the Celestica (formerly Primetech) plant. "We are quite excited about our participation in Positron Technologies, a local company that clearly has the wind in its sails right now. Although the electronic equipment industry is highly competitive, we believe Positron Technologies has what it takes to succeed," said Pierre Genest, the Fund's president and CEO. Last year, Positron Technologies hired an additional 55 people and expects to continue recruiting in 2005.

About the Solidarity Fund QFL

With assets of $5.5 billion, the Solidarity Fund QFL is a development capital fund that, through its RRSP, channels the savings of Quebecers to help create and maintain jobs in companies and contribute to the economic development of Québec. The Fund currently has over 555,000 shareholders and has helped, either on its own or with other financial partners, create maintain and support more than 96,000 jobs. For more information, visit www.fondsftq.com

Luc St-Georges, Chief Operating Officer, Positron Technologies inc., [phone], [e-mail] ; Alain Gauthier, Director, Institutional Communications and Marketing, Solidarity Fund QFL, [phone], ext. 271 (toll free: 1 800 361-5017), [e-mail]
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