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The city is also home to the Sept-Îles International Film Festival, which takes place every year in August. The town of Sept-Îles was founded by John Jacob Astor IV and his American Fur Company in 1869 as a wintering station for their ships on the St. Lawrence River. The company built a wharf and warehouses at what became known as Port de l'Aigle (Port of the Eagle). In 1870, it established an agency there with two partners: George Fournier from Quebec City and James White from Saint John, New Brunswick who had been trading furs since 1867 under contract with Astor's American Fur Company based in New York City; they were now to be paid directly by that firm instead of through its Montreal agents J & T Ross Co..