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Simons takes on outside investors as it looks to build new distribution centre

QUEBEC — Department store operator Simons is taking on outside investors for the first time as it looks to build a new distribution centre in Quebec City.

The Caisse de depot et placement du Quebec is investing 27 million, while Investissement Quebec is putting $17 million in the privately held company.

The Quebec government is also providing an $81-million term loan, while Fonds immobilier de solidarite FTQ is contributing $20 million through a real estate partnership for purchasing the land and building the new centre.

The new facility is expected to use automated equipment and technologies that will allow Simons to increase its productivity and order fulfillment capacity, helping it remain competitive in the retail market.

The new centre, which is expected to open in 2020, will cover about 53,000 square metres and be able to process 15,000 customer orders per hour.

Based in Quebec, Simons has been expanding across Canada in recent years and now has 15 stores including locations in Ontario, Alberta and B.C.

The Canadian Press

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