The Government of Canada supports projects by Plastiques G Plus, Géliko and Innovscan
ROUYN-NORANDA, QC, March 27, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Plastiques G Plus Inc., Géliko Inc. and Innovscan Inc. will be better placed to pursue their growth thanks to a total of $579,400 in repayable contributions from Canada Economic Development for Quebec Regions.
The funding will allow Plastiques G Plus Inc. to support its growth and improve its productivity, and Géliko Inc. to acquire and install specialized equipment in a plant in Nunavut. The contribution awarded to Innovscan Inc. will enable this startup business to acquire state-of-the-art equipment.
The financial assistance was announced today by Rémi Massé, MP for Avignon–La Mitis–Matane–Matapédia and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development. The Government of Canada funding will enable the recipient businesses to achieve their established objectives. Their respective projects will generate a total investment of over $1.5 million.
The Government of Canada is committed to creating close partnerships with Quebec businesses to support their efforts to innovate and increase their productivity and competitiveness, and contribute to the economic vitality of the regions, job creation and the improvement of citizens' quality of life.
"These three businesses have demonstrated an exceptional ability to develop niche products in promising markets. Their drive, boldness and sense of innovation are invaluable sources of progress. CED's financial assistance will help them take full advantage of the business opportunities available to them, and to further contribute to the economic vitality of Rouyn-Noranda and Nunavut."
Rémi Massé, MP for Avignon–La Mitis–Matane–Matapédia and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development
"By helping businesses invest in equipment and devices to enhance their performance, and supporting them in their efforts to seek out new markets, the Government of Canada is standing by its commitments. Our objectives are to foster expansion, innovation and exports. I am pleased to learn that these projects will lead to the creation of 10 high-quality jobs."
The Honourable Navdeep Bains, Minister responsible for CED
Today's announcement was made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which is made up of 17 federal departments and agencies, including CED and the other five regional development agencies.
The funding for Plastiques G Plus was provided under CED's Quebec Economic Development Program, whereas the contributions for Géliko Inc. and Innovscan Inc. come from the Regional Economic Growth through Innovation (REGI) program.
The Regional Economic Growth through Innovation (REGI) program targets entrepreneurs who leverage innovation to grow their businesses and make them more competitive, and regional economic stakeholders who help create an entrepreneurial environment conducive to innovation and inclusive growth in all regions.
For 50 years now, the Government of Canada has been actively involved in regional economic development in Quebec: half a century of concrete action targeting the growth of Quebec's regions and businesses.
For more information about the projects, please refer to the related backgrounder.
Contribution – Investment – Description of the project
Repayable contribution of $389,400 out of a total investment of $1,016,675
G Plus Plastics Inc. is a corporation incorporated in May 1995. It has 55 employees. This business is led by a team of young entrepreneurs and manufactures industrial plastic products, primarily for the mining sector. Advancement of knowledge in the field of plastics has helped develop light, corrosion-free products that are resistant to chemicals, impact and abrasion.
The goal of the project is to enhance the company's performance to support its growth and improve its productivity. The contribution will be used to purchase and install specialized equipment, including an extruder, automated fusion equipment, automated fusion templates and fusion tables.
The project will create two jobs.
Repayable contribution of $145,000 out of a total investment of $350,000
Géliko Inc. is a corporation that was incorporated in 1998 and underwent a merger in 2010. It has 31 employees. Géliko manufactures and repairs hydraulic cylinders and specialized metal parts for the mining industry. Hydraulic cylinders are found mainly in heavy machinery, nacelles, and mining, logging and farming equipment. Géliko Inc. also does various types of parts welding and machining.
The purpose of the project is to enhance the company's performance to support its growth and improve its productivity. The contribution will go toward the purchase and installation of specialized equipment for the Géliko shop floor in Nunavut, including a tower, a welder, saws, a hydraulic cylinder manufacturing table, a drill press, a milling machine, a compressor, a hydraulic press, and containers for transporting equipment.
Six jobs will be created in Rankin Inlet, Nunavut, where this project will be completed.
Repayable contribution of $45,000 out of a total investment of $159,000
Incorporated in September 2018, Innovscan Inc. is a corporation held by a young entrepreneur who is academically trained in mechanical engineering and a member of the Ordre des ingénieurs du Québec. The company specializes in the reverse engineering of parts and in 3D printing using a continuous fibre technology. Its mission is to assist businesses in developing their innovation potential and achieving their growth targets.
The purpose of the project is to start up Innovscan. Available services include 3D scanning, template conversion, technical plan creation, and fibre-reinforced plastic parts printing. The contribution will go toward the purchase of state-of-the-art equipment, namely a 3D printer and scanner, software and digital hardware.
The project will create two jobs.
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, Tel.: 514-283-7443, Email: firstname.lastname@example.org