Novolecs poised for growth in booming market after purchase of former GE plant in St-Augustin

SAINT-AUGUSTIN-DE-DESMAURES, QC, March 15, 2024 /PRNewswire/ - Novolecs Innovative Electrical Solutions ("Novolecs") is proud to announce the acquisition of the bus duct and auxiliary electrical equipment facility located in Saint-Augustin-de-Desmaures as well as the entire intellectual property of the Stace group. Established by GE Canada in 1977, the factory specializes in the design and the manufacturing of low and medium voltage auxiliary equipment, serving local and international clients. Novolecs' principal shareholders, Pascal Dupuis and Plant-E Corp., aim to bring the plant at its full potential to serve a booming market.

"We are very proud of this transaction, as it will preserve an expertise recognized here in Québec and internationally. As international markets are moving towards renewable electricity production and improvements to the transmission grid to decarbonize the economy, the auxiliary equipment fabricated at the Saint-Augustin-de-Desmaures plant is essential to their success. Together with our suppliers, we rely on a competitive and transparent approach, and in so doing we act with foresight and responsibility," said René Perreault and Pascal Dupuis, both chairs of the board of the main shareholders.

"The values of integrity, quality and excellence put forward by the new owners' culture is coherent with my own vision for the company. Our actions are consistently based on our strive towards innovation, resilience, productivity, quality and sustainability. We are a team of experts with ambition and complimentary skills, from engineering to fabrication, that will allow the plant to reach new heights." concluded Sébastien Arcand, CEO of Novolecs.

Pascal Dupuis is an engineer and entrepreneur active in the industrial mechanics, cogeneration, and other sectors. In business since 1987, Mr Dupuis is JR Mécanique's and MJR Industrial Solutions' president. He is also Agilis' Vice-President.

Plant-E Corp is an investor in the energy value chain. Its activities as a wholesaler in electricity amount to 6 TWh per year. Plant-E Corp also invests in strategic tangible assets, such as the Saint-Augustin -de-Desmaures plant.

SOURCE Novolecs, Innovative Electrical Solutions

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