Stedfast Receives Multimillion Dollar Investment

Quebec-based Stedfast Inc., a developer and supplier of high-tech coated and laminated fabrics for use in protective clothing, has received $3.6 million in funding from The Solidarity Fund QFL, a Montreal-based development capital company that invests in all economic sectors to promote economic growth in Quebec. Stedfast plans to use the funds to research and develop new processes and products. Its product line already includes coated and laminated fabrics that offer flame-retardant and antibacterial characteristics to the civil, military, medical, maritime and industrial sectors.

“The Fund is very pleased to be associated with a company like Stedfast, which over the years has managed to be successful in a traditional sector like textiles,” said Gaétan Morin, executive vice president, investments, the Solidarity Fund QFL. “By creating innovative fabrics, the company found a way to stay in the game, and thanks to its highly specialized team, continuous investments in technology and R&D, and ability to develop new markets, including North America, the company has become an industry leader.”

October 23, 2007