Investissement Québec is a company established in 1998 under an act passed by the National Assembly of Quebec to favour investment in Quebec by Quebec-based and international companies.[1] Its registered office is located in Quebec City. In December 2010 it took over the Société générale de financement.[2]
Investissement Québec initially held a 19% stake in the Airbus A220 (formerly Bombardier CSeries) programme.[3] This was increased to 25% in February 2020, at no cash cost to Investissement Québec, as part of a deal that saw Bombardier sell its share to Airbus.[4]
The Société générale de financement (SGF) was a holding company owned by the Government of Quebec. Its mission was to attract investment to Quebec by investing in other companies. Another mission was to promote new small businesses. In December 2010, Bill 123 that planned the merger of the SGF into Investissement Québec received royal assent. The SGF ceased activities on 31 March 2011.[5]
Investments
Airbus Canada
In July 2016, Investissement Québec took a stake in C Series Aircraft Limited Partnership (CSALP), a joint venture with Bombardier Aerospace to develop its CSeries aircraft.[6] In October 2017, Airbus and Bombardier announced that Airbus would acquire a 50.01% majority stake in CSALP, with Bombardier keeping 31% and Investissement Québec 19%.[7] This deal closed in July 2018, and the aircraft was rebranded as the Airbus A220.[8] Bombardier exited the A220 programme in February 2020, selling its share to Airbus; Investissement Québec kept a 25% share.[9] In February 2022, a further $1.2b investment in Airbus Canada was agreed ($900m from Airbus, $300m from Investissement Québec) to support an acceleration of the A220's production rate.[10]
Flying Whales
In 2019, Investissement Québec acquired a stake in Flying Whales, a start-up specializing in the construction and operation of rigid-structure airships. The state-owned company holds 24.99% of Flying Whales SAS, which corresponds to 15 million euros. An additional 5 million euros are planned for the Canadian subsidiary, bringing the total investment to 30 million Canadian dollars (20 million euros). Future aerostats are intended for transporting heavy or indivisible loads and could serve the northern regions of Quebec.[11][12]
In Ottawa in July 2020, the Ministry of Innovation, Science and Industry has not yet given its operating authorization to the Quebec subsidiary. The investment in the start-up, arouses controversy. The usual examination procedure seems to be lengthening. The federal government (Ottawa) would wonder about the risk of industrial espionage or the loss of intellectual property due to the presence of the "Chinese state-owned company AVIC" in the shareholding of Flying Whales SAS (with 24.99%). However, this only concerns the Quebec subsidiary (the 5 million euros).[13]
References
^"Act respecting Investissement Québec and La Financière du Québec" (PDF). Retrieved 14 December 2017.
^"Investissement Québec officially in operation - A New, More Efficient and Powerful Corporation | News". international.gouv.qc.ca. Retrieved 14 December 2017.
^"Airbus and Bombardier Announce C Series Partnership - Bombardier". www.bombardier.com. Retrieved 14 December 2017.
^Kaminski-Morrow, David (13 February 2020). "Airbus takes 75% of A220 programme as Bombardier exits". Flight Global.
^"An Act respecting the amalgamation of the Société générale de financement du Québec and Investissement Québec", 10 December 2010, L.Q. 2010, c. 37.
^"Working on A220 – Overview". Bombardier. from the original on 3 June 2019. Retrieved 3 June 2019.
^"Airbus and Bombardier Announce C Series Partnership" (Press release). 16 October 2017. Airbus 17 October 2017 at the Wayback Machine, Bombardier 17 October 2017 at the Wayback Machine
^"Airbus, Bombardier and Investissement Québec agree C Series Partnership closing effective July 1, 2018". Airbus (Press release). 8 June 2018.
^David Kaminski-Morrow (13 February 2020). "Airbus takes 75% of A220 programme as Bombardier exits". Flightglobal. from the original on 26 October 2020. Retrieved 13 February 2020.
^Allison Lampert (4 February 2022). "Airbus, Quebec reach $1.2 bln investment deal for A220 jet program". Reuters. Retrieved 17 February 2022.
^"Flying Whales va produire ses dirigeables au Québec". Les Echos (in French). 2019-11-15. Retrieved 2022-08-05.
^"Flying Whales ouvre son capital à ADP, Bouygues et Air Liquide". Les Echos (in French). 2019-12-11. Retrieved 2022-08-05.
^Robillard, Alexandre. "Flying Whales : Ottawa craint que la Chine espionne". Le Journal de Québec. Retrieved 2022-07-22.
External links
Official website
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investissement, québec, company, established, 1998, under, passed, national, assembly, quebec, favour, investment, quebec, quebec, based, international, companies, registered, office, located, quebec, city, december, 2010, took, over, société, générale, financ. Investissement Quebec is a company established in 1998 under an act passed by the National Assembly of Quebec to favour investment in Quebec by Quebec based and international companies 1 Its registered office is located in Quebec City In December 2010 it took over the Societe generale de financement 2 Investissement Quebec initially held a 19 stake in the Airbus A220 formerly Bombardier CSeries programme 3 This was increased to 25 in February 2020 at no cash cost to Investissement Quebec as part of a deal that saw Bombardier sell its share to Airbus 4 Contents 1 Societe generale de financement 2 Investments 2 1 Airbus Canada 2 2 Flying Whales 3 References 4 External linksSociete generale de financement EditThis article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Investissement Quebec news newspapers books scholar JSTOR May 2014 Learn how and when to remove this template message Societe generale de financementTypeProvincially owned holding companyFounded1962HeadquartersMontreal Quebec CanadaProductsfinancial investmentOwnerGovernment of QuebecNumber of employees1 022 2021 The Societe generale de financement SGF was a holding company owned by the Government of Quebec Its mission was to attract investment to Quebec by investing in other companies Another mission was to promote new small businesses In December 2010 Bill 123 that planned the merger of the SGF into Investissement Quebec received royal assent The SGF ceased activities on 31 March 2011 5 Investments EditAirbus Canada Edit In July 2016 Investissement Quebec took a stake in C Series Aircraft Limited Partnership CSALP a joint venture with Bombardier Aerospace to develop its CSeries aircraft 6 In October 2017 Airbus and Bombardier announced that Airbus would acquire a 50 01 majority stake in CSALP with Bombardier keeping 31 and Investissement Quebec 19 7 This deal closed in July 2018 and the aircraft was rebranded as the Airbus A220 8 Bombardier exited the A220 programme in February 2020 selling its share to Airbus Investissement Quebec kept a 25 share 9 In February 2022 a further 1 2b investment in Airbus Canada was agreed 900m from Airbus 300m from Investissement Quebec to support an acceleration of the A220 s production rate 10 Flying Whales Edit In 2019 Investissement Quebec acquired a stake in Flying Whales a start up specializing in the construction and operation of rigid structure airships The state owned company holds 24 99 of Flying Whales SAS which corresponds to 15 million euros An additional 5 million euros are planned for the Canadian subsidiary bringing the total investment to 30 million Canadian dollars 20 million euros Future aerostats are intended for transporting heavy or indivisible loads and could serve the northern regions of Quebec 11 12 In Ottawa in July 2020 the Ministry of Innovation Science and Industry has not yet given its operating authorization to the Quebec subsidiary The investment in the start up arouses controversy The usual examination procedure seems to be lengthening The federal government Ottawa would wonder about the risk of industrial espionage or the loss of intellectual property due to the presence of the Chinese state owned company AVIC in the shareholding of Flying Whales SAS with 24 99 However this only concerns the Quebec subsidiary the 5 million euros 13 References Edit Act respecting Investissement Quebec and La Financiere du Quebec PDF Retrieved 14 December 2017 Investissement Quebec officially in operation A New More Efficient and Powerful Corporation News international gouv qc ca Retrieved 14 December 2017 Airbus and Bombardier Announce C Series Partnership Bombardier www bombardier com Retrieved 14 December 2017 Kaminski Morrow David 13 February 2020 Airbus takes 75 of A220 programme as Bombardier exits Flight Global An Act respecting the amalgamation of the Societe generale de financement du Quebec and Investissement Quebec 10 December 2010 L Q 2010 c 37 Working on A220 Overview Bombardier Archived from the original on 3 June 2019 Retrieved 3 June 2019 Airbus and Bombardier Announce C Series Partnership Press release 16 October 2017 Airbus Archived 17 October 2017 at the Wayback Machine Bombardier Archived 17 October 2017 at the Wayback Machine Airbus Bombardier and Investissement Quebec agree C Series Partnership closing effective July 1 2018 Airbus Press release 8 June 2018 David Kaminski Morrow 13 February 2020 Airbus takes 75 of A220 programme as Bombardier exits Flightglobal Archived from the original on 26 October 2020 Retrieved 13 February 2020 Allison Lampert 4 February 2022 Airbus Quebec reach 1 2 bln investment deal for A220 jet program Reuters Retrieved 17 February 2022 Flying Whales va produire ses dirigeables au Quebec Les Echos in French 2019 11 15 Retrieved 2022 08 05 Flying Whales ouvre son capital a ADP Bouygues et Air Liquide Les Echos in French 2019 12 11 Retrieved 2022 08 05 Robillard Alexandre Flying Whales Ottawa craint que la Chine espionne Le Journal de Quebec Retrieved 2022 07 22 External links EditOfficial website This Quebec related article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Investissement Quebec amp oldid 1102480739 Societe generale de financement, wikipedia, wiki, book, books, library,
