Government of Canada provided financial support for major expansion project
COATICOOK, QC, May 2, 2017 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, the Honourable Marie-Claude Bibeau, Member of Parliament for Compton-Stanstead, announced at the grand opening of Niedner Inc.'s plant that a repayable contribution of $2 million has been granted to the enterprise to support its plant renovation and expansion project.
Businesses have to be able to rely on resources to obtain adequate facilities in order to create and commercialize innovative products. The Government of Canada is committed to supporting innovative Canadian enterprises like Niedner to help them grow and continue to provide quality jobs for the middle class. As a true economic driver, innovation is the key to success because it generates growth that benefits Canadian enterprises and communities.
Niedner has been manufacturing woven fire hose in its Coaticook plant since 1914 and is building on innovation to produce high quality, lightweight, extremely flexible, compact, resistant large diameter hoses. Its cutting-edge products are currently used in the forestry, industrial, automotive, oil and gas sectors, and by governments and municipal services around the world. More specifically, its hoses are used for aqueduct rehabilitation, fire protection, forest fire suppression, snowmaking and the transportation of fluids.
The funding awarded through CED's Quebec Economic Development Program (QEDP) has supported a variety of Niedner's renovation and expansion projects since 2014. This project, which is estimated at over $12 million, is helping the business boost its production capacity to meet the increase in orders and thus expand sales.
CED is one of six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
"I commend the Niedner team's efforts over the past few years to ensure business growth. By carrying out this major expansion project, the business is consolidating over 130 quality jobs and will create around 20 new ones right here in Coaticook. Congratulations and long live the enterprise!"
The Honourable Marie-Claude Bibeau, Minister of International Development and La Francophonie and Member of Parliament for Compton-Stanstead
"By providing financial assistance for manufacturing innovation, the Government of Canada is helping enterprises invest in their future and expand. Key investments like the one made by Niedner help grow the Canadian economy."
The Honourable Navdeep Bains, Minister responsible for CED
"The collaboration of our partners, including Canada Economic Development for Quebec Regions, was a determining factor for this major project. CED's financial assistance made it possible for us to start the work in a timely manner to ensure our growth."
Alain Sauriol, President of Niedner Inc.
Follow CED on Twitter @CanEconDev
Follow Niedner on LinkedIn @niedner-inc.
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, Tel.: 514-283-7443, Email: email@example.com