Soucy Group (Drummondville, Quebec, Canada) announced it was in the process of acquiring Laforo Foundry (Ste-Claire, Quebec, Canada).
Laforo specializes in the manufacture of high-volume gray and ductile cast iron small parts for industrial, railway, agricultural and automotive industries.
‘'For Soucy Group, there is a highly important potential linked to this acquisition,” said Eric Côté, president and chief operating officer, Soucy Group. “Some major investments in automation have been done in this foundry in recent years and its capacity is complimentary to the one of Soucy Belgen, our Drummondville foundry, which is specialising in the manufacture of large parts.”
Laforo employs about 40 people, the majority of whom had been laid off or put on a time-sharing program.