06/28/2022 | Press release | Distributed by Public on 06/27/2022 15:09
June 28, 2022
MONTREAL - Preformed Line Products Company (NASDAQ: PLPC) announced today that its Canadian subsidiary PLP Canada has acquired Fonderie Richelieu Inc.
Based in Delson, Québec, Fonderie Richelieu has been a critical supplier of cast aluminum components used in PLP Canada's products over the past ten years. As a result of the acquisition, Fonderie Richelieu's operations will be transferred to PLP Canada's facility in Montreal. Fonderie Richelieu's founder and president, Gilles Asselin, and his team will join PLP Canada.
PLP Canada's Managing Director, Jean-Philippe Paradis, commented, "This acquisition demonstrates PLP's commitment to the Canadian energy and communications markets. By expanding our local manufacturing presence and combining it with PLP's 19 specialized manufacturing facilities worldwide, PLP Canada can respond to urgent maintenance needs while also having the flexibility to scale up production to meet critical project demands and adapt to today's dynamic supply chain constraints. The addition of aluminum casting to our research and engineering center in Montreal will also further advance PLP Canada's product development capabilities."
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