ACTON VALE, QC, March 5, 2020 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Two regional manufacturing businesses in the metal products industry—ABM Précision and Métallitech—will acquire specialized production equipment thanks to Government of Canada investments. The funds being injected, aimed at better meeting the evolving needs of their respective clienteles, will enable them to enhance their productivity and optimize their production capacity.
ABM Précision Inc. a rapidly expanding business
The fruit of a structured family succession, ABM Précision Inc. specializes in the manufacture of punch die sets, moulds and templates and the computer-assisted design of parts in series. Held and managed by two brothers, the family-run business—the result of a merger of the family's two former complementary businesses—is making their parents' wish to enhance productivity, innovation and growth a reality.
To succeed in this, the young entrepreneurs put forward an audacious investment plan: thanks to the support of the Government of Canada ($480,000), the start-up will be able to acquire and install automated production equipment with new technologies, including a digital machining centre, which will greatly reduce internal manufacturing costs and increase production capacity.
Métallitech Inc. acquiring new equipment
For its part, Métallitech Inc., founded in 1995, is a manufacturing business in transition working in metallic and non-metallic processing. It specializes in thermal spray coating, a special technique to treat dry surfaces used to improve the primary properties of the treated material. Thermal spray coating, which requires specialized expertise, brings additional protective features to the base material, including anti-wear, anti-corrosion, anti-sticking and conductivity properties.
To remain competitive and enhance its performance, Métallitech has developed a strategy to improve its fleet of equipment; CED has thus granted the business $317,400 to acquire, among other things, robotic production equipment integrating new technologies.
Thanks to this support, the business will be able to ensure world-class quality when processing products, as required by its major prime contractors, large-scale clients in the areas of pulp and paper, forestry, mining, steelworks and hydroelectricity.
This funding, consisting of repayable contributions totalling $797,400, was announced today by Élisabeth Brière, Parliamentary Secretary to the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for the six regional development agencies (RDAs), including CED.
"We are supporting the growth of homegrown businesses bringing Canadian know-how to the world, as ABM Précision and Métallitech are doing so brilliantly. We must leverage our competitiveness and maximize our knowledge by boosting innovation. If our entrepreneurs are among the first to adopt certain technologies and the solutions they offer, this will enhance the competitiveness of our industries and economic growth."
Élisabeth Brière, Parliamentary Secretary to the Minister of Economic Development and Official Languages (Economic Development Agency of Canada for the Regions of Quebec)
"Supporting the growth of our family-run businesses is at the heart of our priorities. We are here to boost projects that drive start-ups, help our youth take on the working world and enhance the competitiveness of our industries on the international scene."
The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED
- Funds have been granted under CED's Regional Economic Growth through Innovation program. This program targets entrepreneurs leveraging innovation to grow their businesses and enhance their competitiveness, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all.
- CED is a key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED is accompanying Quebec businesses, supporting organizations and regions into tomorrow's economy.
SOURCE Canada Economic Development for Quebec Regions
Renseignements: Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Alexander Cohen, Press Secretary, Office of the Minister of Economic Development and Official Languages, [email protected]