Mecfor, the Saguenay-based North American leader in specialized mobile equipment for the aluminium and rail industries, and Saint-Bruno-based Advanced Dynamics, a premier manufacturer of heavy-duty material handling equipment for the primary and secondary aluminium industries and the pulp and paper industry, announced today that they have fully merged their operations. The newly formed company will be known as EPIQ Machinery.
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Mecfor and Advanced Dynamics, two companies with shared values and complementary expertise have merged to seize a unique opportunity to make EPIQ Machinery a North American leader in mobile and heavy equipment for the aluminium, pulp and paper, and rail equipment industries. EPIQ Machinery now has the critical mass needed to accelerate international growth by focusing on innovation in addition to making investments and acquisitions. Diversification through its three lines of business will enable EPIQ Machinery to mitigate risks and ensure medium- and long-term business continuity.
Combined revenues for the two companies will exceed CAD55 million, 75% of which will come from sales outside Canada.
Once the merger is finalized, Éloïse Harvey, who was Mecfor’s President, will officially become CEO of EPIQ Machinery. SeaFort Capital, Mecfor’s majority shareholder for the past three years, will become the majority shareholder of EPIQ Machinery. The balance of shares is held by employees.
Strong presence in Saguenay and Saint-Bruno-de-Montarville
All current Mecfor and Advanced Dynamics employees will join the new company, which, between its offices and production facilities in Saguenay and Saint-Bruno (the future location of EPIQ Machinery’s head office), will have a staff of more than 200 in Quebec.
The two organizations will continue to show strong leadership in the development of their technologies and markets. The Saguenay facilities will be home to the Mobile Equipment and Autonomous Vehicle Center of Excellency as well as the Local Manufacturing Center of Excellency. The Fixed Equipment and Process Systems Centre of Excellency and the 4.0, Robotics and Automation Center of Excellency will be established in Saint-Bruno.
No jobs will be lost at either site. The company will also leverage its Advanced Dynamics–owned production facilities in India.
Éloïse Harvey, CEO, EPIQ Machinery, former President of Mecfor, said: “Today’s announcement is the culmination of several years of fruitful collaboration between our two companies. We’re pleased to be able to create a world-class equipment manufacturer based on shared values. Together, we’ll be able to invest in our growth, our projects, and, above all, our brilliant team to make Quebec’s industrial equipment expertise shine in the world’s biggest markets.”
Peter Hanna, General Sales Manager – Pulp and Paper, EPIQ Machinery, former President and Head of the pulp and paper division at Advanced Dynamics, said: “Today is the beginning of a new chapter for our two companies. Over the past few years, Advanced Dynamics and Mecfor have worked together on many projects and gotten to know one another. A natural bond quickly formed and it inspired us to start talking seriously about a merger. This merger positions us to achieve our ambitions by helping us attract and retain a qualified workforce that relishes challenges and innovation, as well as ensuring business continuity through sustained growth. I am delighted with this extremely promising alliance.”
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