$5-million Investment in Polyplan Technologies
Montreal, May 20, 2003 - Desjardins Venture Capital, through Capital régional et coopératif Desjardins, ID société en commandite and the Fonds d'investissement Desjardins de Montréal, announces an investment of $2.5-million as part of a $5 million financing agreement to support the growth of Polyplan Technologies. The Montreal-based company specializes in the development of Manufacturing Process Management (MPM) software. The other participating financial partners are RBC Capital Partners, contributing $1.5-million, and GTI Capital, contributing $1-million. The financing will support the marketing efforts of the company in Canada, the United States and Germany.
Polyplan Technologies is a thought leader in the field of Manufacturing Process Management (MPM). Polyplan provides software solutions enabling leading discrete manufacturers seeking to gain major improvements in time-to-market, time-to-quality and product innovation, while reducing product development costs. The Polyplan collaborative MPMTM (cMPMTM) solution provides a digital manufacturing working environment for manufacturing engineers to develop more accurate and timely manufacturing strategies and documentation. Polyplan drives the "Concurrent Development" of manufacturing processes and products, reducing the number of errors between engineering and manufacturing.
"We are very proud to associate with Polyplan Technologies, a business run by a seasoned and experienced management team," says André Petitclerc, Vice President, Information Technology, Desjardins Venture Capital. "This company offers a well-developed technological solution geared toward a growing market which presents a great potential for growth," he concludes.
"The information technology market has been hard hit over the past few years. Only those companies offering their customers products with a solid added value will rise to the top. Polyplan possesses the skills for success," adds Bernard Hamel, Chairman and Senior General Partner of GTI Capital.
"Our partnership with Desjardins Venture Capital, RBC Capital Partners and GTI Capital represents an important stage in our development," adds Robert Beauchemin, President and CEO of Polyplan. "It allows us to be more aggressive in our market and fuel our expansion in the US and Europe," he says.
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