The Maison régionale de l'industrie recently published an article entitled "Filspec...it's the story of Ronald Audet ensuring the durability of this Sherbrooke jewel!” which recounts the remarkable career of FilSpec's Chairman of the Board.
Indeed, Mr. Audet has believed in FilSpec™ since its very beginning, despite the crisis affecting the textile market, and above all, he knew how to preserve the shares of the company in Quebec the province by making FilSpec™ a true Quebec (French Canada) and Sherbrooke jewel today.
Focus on innovation and perseverance
In 2004, the takeover of Cavalier Textiles by a group of buyers, including Mr. Audet and employees, gave birth to FilSpec™. 2006 was a very difficult year, with losses of $1.4 million.
Today, the company holds an accepted patent (FireFil™) and another is pending for the development of revolutionary protective yarns, which compete with the market leaders. The Berry Amendment, adopted in the United States a few years ago and requiring 100% American manufacturing for military supplies, was an incentive for FilSpec™ to acquire Richmond Specialty Yarns, North Carolina. FilSpec™ settled down in the United States and it allowed to create FilSpec USA.
Ronald Audet is an outstanding manager who knew well how to surround himself to turn around a market in a crisis. Mr. Audet and the FilSpec™ team have chosen innovation and perseverance to allow our company to stand out and currently be present in the Canadian, American, Mexican and European markets. Despite this international presence, all of the company's shares remain the property of Sherbrooke residents and we are proud of it.
For more information, we invite you to consult the full article (in French only) on the Maison régionale de l'industrie website. We thank them for the initiative!