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June 29, 2009
 
Double christening of Groupe Desgagnés' new vessels - M/V Zélada Desgagnés and M/V Sedna Desgagnés

Desgagnés pursues its $300 million investment plan

Groupe Desgagnés marked a première in Quebec today by proceeding to the double christening ceremony of new vessels acquired by its subsidiary Transport Desgagnés Inc. last winter. These vessels, built in Shanghai, China, just berthed at the Port of Quebec.

"With each a length of over 138 meters, a total carrying capacity of 20,000 cubic meters in their holds and on their main deck, two cranes of 180 mt which may be twinned to lift 360 mt, with their ice class equivalent to Lloyd's 1A and their engine of 5,400 kW (7,344 BHP), enabling them to achieve a speed of 15.5 knots, these two new vessels, from the Beluga F-360 series, mark the history of Desgagnés and the shipping industry; and thus, their names must measure up to the occasion", declared Mr. Louis-Marie Beaulieu, Chairman of the Board and CEO of Groupe Desgagnés.

It is thus with great pride, before dignitaries and partners, that these vessels, sister ships to the M/V Rosaire A. Desgagnés acquired in 2007, were christened M/V Zélada Desgagnés and M/V Sedna Desgagnés. The Zélada was named in honour of Mr. Zélada Desgagnés, younger brother of Captain Rosaire Desgagnés. Mr. Beaulieu highlighted that "it goes without saying that two close-knit brothers, industry pioneers who have worked and contributed together to Desgagnés' success, and recognized by their peers for their competence, their integrity, their sense of duty, dedication and determination to succeed, will each see their names sail on the seas and oceans of the world."

As for the Sedna Desgagnés, her first name means "mermaid" in Inuktitut. According to Inuit legends, Sedna is a sea goddess worshipped by the Inuit people, as it is she who provides the food necessary for their survival. The name is therefore quite suited for this vessel, as she was purchased in the objective to handle the extra transportation requirements of the Canadian Arctic, and thus improve the marine supply service to the Northern communities.

These recent acquisitions of $40 million each are respectively the fourth and fifth steps of an investment plan close to $300 million. In addition to the jobs created and the ensuing economic spin-offs, Mr. Beaulieu declared that he was "quite pleased that, despite the financial crisis and the very difficult economic situation, Groupe Desgagnés was able to realize these transactions that are in line with our expansion and fleet renewal plan, with $300 million in investments already engaged by the company. This fleet renewal plan will improve Sealift services to the Northern Communities and contribute to Desgagnés remaining the leader in Northern Sealift services, which we have been offering for more than 40 years."

Desgagnés, through its subsidiary Desgagnés Transarctik, is the leading marine carrier of general cargo to the communities of Nunavik and Nunavut. Desgagnés also works in partnership with Arctic Co-operatives Limited by way of Nunavut Sealink and Supply Inc. (NSSI), a company providing sealift services out of Montreal and Churchill, to communities in the five Nunavut regions. Arctic Co-operatives (ACL) is an organization comprising some 19,000 Inuit members. Amongst the activities and services it provides to its members, ACL undertakes and coordinates procurement activities and related logistics for the co-op stores located in the great majority of the Nunavut Communities. Desgagnés is also in partnership with the Fédération des coopératives du Nouveau-Québec (FCNQ) through Taqramut Transport Inc. (TTI), a corporation providing sealift transportation and related services to all the communities in Nunavik. FCNQ boasts more than 7,500 Inuit members, thus representing the near totality of Inuit adults in Nunavik. Beyond being very active in different fields of service activities, FCNQ owns and develops the co-op stores in all of the 14  communities in Nunavik and plays an important role in the region's economic development.

With its head office in Quebec, Desgagnés is a conglomerate that has, since the 19th  Century, specialized in marine carriage and transportation of general cargo, solid and liquid bulk, and also passengers. With gross receipts of over $200 million and more than 875 employees in peak season, its activities also extend to marine vessel repairs and maintenance, as well as to rental and operation of heavy machinery. In addition to having two ships under construction, the company owns and operates a fleet of 18 vessels, with an overall deadweight of almost 190,000 mt; they cover the St. Lawrence River Network & the Great Lakes, the Canadian Eastern Arctic, the East coasts of Canada and the United States, as well as the seas worldwide.
 
Québec, June 29, 2009 
Groupe Desgagnés