28 June 2018
$128.4 Million in Investments and Major Job Creation at TEKNA in Sherbrooke
PRESS RELEASE – Sherbrooke company TEKNA today announced key investments of up to $128.4 million as well as the creation of 170 new job opportunities. As a part of their business plan, the project will enable the company to reinforce its position as a worldwide leader in metal powder manufacturing produced for the 3D printing and microelectronics markets.
TEKNA announced its project this afternoon in the presence of the Honourable Navdeep Bains, Minister of Innovation, Science, and Economic Development, the Honourable Marie-Claude Bibeau, Minister of International Development and La Francophonie and MP for Compton-Stanstead, and Luc Fortin, Minister responsible for the Estrie region and MNA for Sherbrooke, whose respective administrations have provided financial support.
» More details on government investments
Steve Lussier, Mayor of Sherbrooke, Josée Fortin, General Director of Sherbrooke Innopole, Luc Fortin, Quebec Minister of Families and Minister responsible for the Estrie region, Luc Dionne, CEO of TEKNA, The Honourable Marie-Claude Bibeau, Minister of International Development and La Francophonie and Member of Parliament for Compton–Stanstead, The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Maher Boulos, cofounder of TEKNA.
The implementation of this strategy includes, among other plans, the expansion of the powder manufacturing plant, which will allow TEKNA to diversify its range of metal powders for the global market and greatly boost its production capacity eventually producing over 1000 tons per year. The project will consolidate 150 current positions in Sherbrooke with 50 new positions created in the last year. Ultimately, the new hires will bring the total number of employees working at TEKNA to over 270, while simultaneously strengthening the company’s foundation.
Projected expansion of TEKNA’s powder manufacturing plant
“TEKNA is contributing to the manufacturing revolution led by 3D printing and connected devices, in turn enabling the fabrication of products that have never been seen before. We are currently creating the content for tomorrow’s history books. This groundbreaking investment project is supported by 28 years of commitment to excellence and is of great strategic relevance to the company’s development, growth, and prosperity. We are particularly proud that our shareholder Arendals Fossekompani ASA chose Sherbrooke, the city where TEKNA was founded, to deliver on this truly promising plan,” stated Luc Dionne, Chief Executive Officer of Tekna Group.
The mayor was also present at the press conference to celebrate the company: “We are always happy to acknowledge new job creation in Sherbrooke, and even more so for such quality positions as is today’s case. These investments for TEKNA show the vitality of our economic sector and the strength of the Université de Sherbrooke in developing high‑tech innovations,” said Steve Lussier, Mayor of Sherbrooke.
The Sherbrooke Innopole team has closely supported this company in its efforts with the City and in the development of its financial planning: “TEKNA undeniably represents a flagship of the knowledge economy in Sherbooke,” emphasized Josée Fortin, Director General of Sherbrooke Innopole. “This spin off from the Université de Sherbrooke’s laboratories has become a pillar of the key Micro-nanotechnologies sector. With its exceptional position in a multitude of growing markets across the world, TEKNA’s reputation has nothing left to prove, and we are certain that such a project will produce significant overall benefits for the region. ”
TEKNA is a subsidary of Arendals Fossekompani ASA (AFK: NO) with its headquarters located in Sherbrooke, Quebec. The company operates manufacturing centres in Québec and France, as well as sales and distribution offices in China, India, and South Korea.
As a leader in the advanced materials industry, TEKNA develops and produces high-purity metal powders for sophisticated applications, such as 3D printing and microelectronics, as well as optimized induction plasma systems for industrial research and production.
Building on more than 28 years of delivering excellence, TEKNA is a global player recognized for its quality products and commitment to a multinational client base, who are leaders in their respective markets.
Sources: TEKNA and Sherbrooke Innopole
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