LTA Aerostructures invests $90 million in Greater Montreal

Montreal International Press Release | July 15, 2014

Estimated reading time 1 minute, 49 seconds.

LTA Aerostructures (LTA), a specialist in the design, development and production of a new category of airships intended for the delivery of heavy or oversized loads, has chosen the Greater Montréal region to develop its activities in Canada. The company plans to invest $90 million over three years, creating 180 new jobs.

The announcement was made at the 2014 Farnborough International Airshow, attended by Jacques Daoust, Québec’s Minister of the Economy, Innovation and Exports, Michael Dyment, President and CEO of LTA Aerostructures, John Goelet, founder and majority shareholder of the U.S. parent company LTA Corporation, and Dominique Anglade, President and CEO of Montréal International.

“We are very honoured that LTA is developing this very environmentally friendly and forward-looking technology in Québec,” Daoust stated. “This highly innovative company can count on a skilled workforce and a unique network of research centres and businesses to support it in its development.”

The use of airships in transportation provides a cost-effective alternative in cases where the delivery of materials presents major logistical challenges. This form of transportation reduces the need to build often intrusive and ecologically harmful infrastructures. The technology can be used in remote and inaccessible areas without altering the natural ecosystem.

“Canada in general and Québec in particular represent a major market for transportation by airships in remote northern areas where there is an abundance of natural resources,” Dyment stated. “We have received superb support and encouragement from the aerospace community and from local authorities. We are eagerly looking forward to collaborating with numerous Québec companies.”

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