Les Industries BRP Mégatech Inc. in Shawinigan announces major investments
Les Industries BRP Mégatech Inc. (« BRP Megatech »), a subsidiary of BRP Inc. (TSX: DOO) (NASDAQ: DOOO), invited representatives from Shawinigan's economic and community-based organizations to its official inauguration this morning. BRP Megatech took the opportunity to announce major investments totalling more than $12 million for technological improvements to production lines, testing equipment and R&D laboratories, as well as the optimization of its facility.
The subsidiary was established in October 2022 as a result of BRP's acquisition of substantially all the assets related to the powersports business of Kongsberg Inc. in Shawinigan. The name pays tribute to the business founded in 1988 under the name Megatech Electro. BRP Megatech specializes in the development and manufacturing of electronic and mechatronic products, thus enhancing BRP's renowned innovation capabilities. BRP Megatech will play a leading role in the global electrification strategy of BRP's various product lines.
"With this acquisition and the upcoming investments, BRP Megatech is proud to become one of the largest private employers in Shawinigan. We want to put down more roots in the community in the months and years to come and, thanks to the know-how and excellence of the people from here, contribute to the economic vitality of the region," says Michael Long, Vice-President, Global Manufacturing Systems, Technology and Quality Strategy at BRP.
Approximately 360 highly qualified individuals are employed by BRP Megatech, including more than 150 employees who joined the team in the last year. BRP Megatech is looking to hire at least 50 more professionals, including electrical engineers. It also plans to hire more people this year to support its growth.
"Our government is proud to collaborate with local companies to strengthen our position as a world leader in electric vehicle manufacturing, while maintaining and creating quality jobs. BRP Megatech's investment is an important part of our efforts to ensure that the Mauricie region participates fully in the new green economy by capitalizing on the talent of local people. With this announcement, the Mauricie region continues to consolidate its reputation as the valley of green energy and batteries!" declared François-Philippe Champagne, Member of Parliament for St-Maurice‒Champlain, and Minister of Innovation, Science and Industry, present this morning at the inauguration.
Marie-Louise Tardif, Member of the National Assembly for Laviolette‒Saint-Maurice, paid homage to the work of BRP Megatech: "On my behalf and that of the Quebec government, I am delighted to see that the Grand-Mère plant is once again owned by a company from the province. Furthermore, BRP has been working with Megatech for more than 30 years. I am convinced that BRP Megatech will reach new heights. I would also like to recognize the professionalism and dedication of its 360 employees."
"The official inauguration of BRP Megatech, as well as the investment announced, and the creation of new jobs is excellent news to kick off the new year. We are proud to see that major companies are choosing Shawinigan to develop their activities. Shawinigan has also made a significant contribution to Quebec's energy development. We have the firm intention to be a major player in the province's energy transition," mentioned Michel Angers, Mayor of Shawinigan.
BRP Megatech will continue to work collaboratively with local social, political and economic actors.