NEWS

In sustained growth since last fall, thanks to the economic recovery and to the development of new markets, Fonderie Laforo Inc will progress over the coming months to the next phase of its installations improvement, in line with its strategic plan.

 As mentioned in our previous press release, we have invested over one million dollars over the last six months on the acquisition of a new Simpson sand cooling system (100 tons). The project includes cooling equipment installation and building expansion as well as optimization of the dust recuperation system. All work was completed by end of July and was followed by a successful start-up.

 Laforo now moves on to addition of a SCADA (Supervisory Control and Data Acquisition System) telemetry system. The system will perform data monitoring of the foundry operations. This will allow operations surveillance and control from one single screen either locally or at a remote location. This will also enable automation of various operations activities.

 The real-time data acquisition will generate continuous process management reports which will eventually be integrated with a new compatible ERP system.

 As an integral part of our strategic plan this investment will position Fonderie Laforo at the cutting edge of technology and maintain our long term competitiveness in the global market.

Laforo has seen sustained growth since last fall due to economic recovery and new markets penetration. In the coming months, we will be investing into new equipment and process, so that our productivity is increased and our lead times are improved.

 Yvon Fortier, CEO, has made a statement this Friday March 18^th 2011, in the presence of  Steven Blaney MP For Lévis-Bellechasse, confirming a financial grant of $330,000. This money will be fully reimbursable under the Business Growth Program and Regional Economic Development Canada guidelines.

 These funds will be allocated towards the purchase of a brand new sand cooling system. This investment will greatly improve the quality of Laforo’s products, as well as help increase its productivity.

 In order to accommodate this new apparatus, Laforo will undertake, in the coming weeks, the erection of a new structure, improving its production space and area. This venue will be completed by may 31st 2011.

 Looking ahead to address new potential markets, thus increasing its revenues, this project will consolidate more than 103 jobs and go as far as creating 10 new ones.

 This substantial investment is a part of our strategic plan that will bring Laforo to the cutting edge of its technology, therefore allowing the organization to remain competitive on a long term basis, in a globalized market.