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SSPM Pontiac, L.P., an affiliate of Green Investment Group Inc.
unveils long-term vision for Pontiac

PORTAGE-DU-FORT, QC – Monday, February 8, 2010

SSPM (Sustainable Site Planning and Management) Pontiac, L.P., an affiliate of Green Investment Group Inc., officially announced today the acquisition of the Smurfit Stone mill in Portage-du-Fort. The news was warmly welcomed by the MRC Pontiac leaders, local business owners and association representatives as well as provincial and federal officials present. “The arrival of SSPM Pontiac in our region is the result of a collaborative effort that represents a win-win situation for all parties. This is an important step that will lead to an economic and social revival of the MRC Pontiac,” said Honourable Lawrence Cannon, MP for Pontiac, minister of Foreign Affairs and minister responsible for the Outaouais region.

As a matter of fact, SSPM Pontiac is engaged to restoring, redeveloping and reviving the inactive site. The company has a vast experience in the revitalization of brownfield sites and plans to give a new vocation to the plant. A prior success story is the resurrection of a steel mill in Alton, Illinois. Previous owners had declared bankrupt and laid off all workers but thanks to a restoration and redevelopment project, the steel mill now employs over 300 people.

“This is precisely what we need for the region, a company that has a long term vision for Pontiac and who is willing to work in partnership with the community. Prior to the acquisition, SSPM Pontiac and its parent company made several trips to the site and consulted local Pontiac community and authorities. These actions clearly reflect their concern for the future of Pontiac and the relationship they want to build with our community,” said Mr. Michael McCrank, mayor of Litchfield and MRC Pontiac warden.

Phases of the restoration and redevelopment project in Pontiac

Now that SSPM Pontiac has closed the deal, the company will focus on cleaning, repairing, reconfiguring and reorganizing the site. Activities will begin by March 2010 and will continue through 2011.

This first phase will cost approximately $15 million and will create opportunities for local businesses specializing in construction, renovation and repair. Job openings are available for local workers. Green Investment Group has already hired five Pontiac workers. The company will also create a website within two weeks for recruitment purposes.

The second phase will consist of redeveloping and reviving the site in collaboration with municipal authorities, local community, associations and businesses as well as provincial and federal governments.

“We want to attract environmental companies that are developing projects in fields such as clean and renewable energy technologies or alternative fuels. The site has the full potential of becoming Pontiac’s industrial park. Consequently, we need to join forces with all stakeholders to attract companies, bring investments and create stability in the area. As well, by diversifying industrial activity, we prevent local dependence to a single industry. The establishment of companies in the future park will secure jobs for the community and bring prosperity,” said Mr. Raymond S. Stillwell, president for SSPM Pontiac and Green Investment Group.

Companies settling in the site will benefit from a strategic location near Ontario and other cities in North America. Other advantages are the infrastructure available, the option of renting/buying industrial condominiums and the intermodal transportation services. As well, the railway in the site itself will facilitate the export of products through nearby ports such as Montréal (for containers) and Trois-Rivières (in bulk).

Green Investment Group is currently in discussions with promoters of potential projects for the second phase. The site’s development potential represents several millions of dollars.

“For any potential project, we will make sure to consult and work closely with local Pontiac community and authorities. We are here to build a long-term cooperation with all parties involved,” said Mr. Stillwell.

Future announcements regarding the site’s restoration and redevelopment will be made in the following weeks and months.

Laura Reed
(618) 656-7333
(877) 497-3298 toll free