MERGER: Metal 7 acquires maker of shovel lifting equipment

[caption id="attachment_1003724328" align="aligncenter" width="514"] The Megalifter from Megatraction can lift the world’s heaviest mine shovels.[/caption] SEPT-ILES, Que. – To broaden its range of highly specialized products and solutions for the mining industry, Metal 7 Inc. announces the acquisition of the manufacturer Megatraction Equipment, which is headquartered in Quebec City. Megatraction designs and builds the Megalifter, a specialized range of patented lifting equipment for heavy electric shovels or hydraulic excavators used by the mining industry. “Megatraction has the best technology in the industry but, because of its size, it was mainly limited to North American markets. With our commercial and financial capabilities this transaction will enable Megatraction to develop international markets and to accelerate the development of its range of solutions,” said Marc-André Gervais, president and CEO of Metal 7. Metal 7 is a manufacturing company serving the primary industry since 1974. It specializes in the design and manufacture of high performance equipment for the mining industries and aluminum smelters and it distinguishes itself from the competition by its expertise in engineering and its international sales network. Metal 7 exports more than 75% of its production in over 20 countries and its exports are mainly outside of North America. “The acquisition of Les Équipement Megatraction Inc. is part of our expansion and consolidation initiative aiming to create a leading Canadian based company offering high value products and services for the mining sector, a company whose expertise is internationally recognized,” mentioned Bruno Fortin, Metal 7 chairman. Metal 7 Inc. is owed by a group of shareholders that includes Fonds de Solidarité FTQ, BDC Capital, Fondaction, Fonds régional de solidarité FTQ Côte-Nord, STAS Inc. and the senior top managers. Find the full range of Metal 7’s expertise at www.Metal7.com.