Specialized Packaging Group (SPG), a North American engineering and protective packaging firm with over 1,000 employees across 16 plants, announced that President and CEO Paul Gaulin has repurchased Investissement Québec's stake in the company.
Mr Gaulin is now SPG's only shareholder.
"In line with our North American growth strategy, we decided to realize the value of our European activities-which contributed to our repurchase of Investissement Québec's stake in the company-so that we can now focus our efforts squarely on North America and on innovation," stated Mr. Gaulin.
SPG will be more present in Canada and the U.S., and especially in Mexico. The company also plans to develop unique and innovative packaging systems from an exclusive portfolio of intellectual properties acquired in recent years. The launch of the new products is scheduled for the 1st quarter of 2017.
"I wish to sincerely thank all board members, including representatives from Investissement Québec, SPG's management team, our employees, our partners and all who have contributed to leading SPG to this promising moment in our evolution," added Mr. Gaulin.
