SAINT-GERMAIN-DE-GRANTHAM, QC, Dec. 19, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Annexair is a leader in the industrial manufacturing of energy-efficient ventilation units. In response to global challenges, the business must integrate high-tech equipment to increase its production capabilities more quickly. To this end, Annexair will receive a repayable contribution of $3 million from CED.
This financial assistance will help the business integrate its manufacturing operations into a new ultra-modern 300,000-square-foot factory in order to establish a new Industry 4.0 manufacturing production concept. The new facility will also enable Annexair to manufacture new casings for ventilation units that replace traditional steel with biocomposites. This innovation will lead to a significant reduction in greenhouse gas (GHG) emissions and enable the recovery of 30 to 60 million plastic bottles annually.
This funding was announced today by Élisabeth Brière, Member of Parliament for Sherbrooke and Parliamentary Secretary to the Minister of Economic Development and Official Languages, the Honourable Mélanie Joly. Government of Canada support will focus more specifically on the acquisition and installation of digital equipment, enabling the creation of many jobs and attracting the next generation of high-tech workers.
Founded in 1998, Annexair specializes in manufacturing and designing high-quality energy-efficient air handling systems. The new biocomposite casings will enable the business to get a head start on its competitors by offering an environmentally friendly product that is twice as durable as traditional products. With 281 employees and $60M in sales this year, Annexair exports 99% of its products to the United States.
The Government of Canada is committed to supporting innovative Canadian businesses and fighting climate change. A veritable economic engine, innovation is the key to success as it generates growth to the benefit of businesses and communities, leading to sustainable economic development. That is why the Government is ensuring businesses have access to the resources they need to create innovative products and market them abroad.
"This project is very promising for the Centre-du-Québec region, supporting efforts to fight climate change. The investment announced today attests to the Government's will to boost economic development in Quebec's regions by supporting businesses that stand out as innovative and contribute to sustainable, greener economic growth."
Élisabeth Brière, Member of Parliament for Sherbrooke and Parliamentary Secretary to the Minister of Economic Development and Official Languages (CED)
"When we support a business in improving its productivity, we promote long-term economic development. The Government is providing Annexair with the means to become more competitive and to contribute to cleaner, greener economic growth. With this support, the Government of Canada is reiterating its will to create good jobs for the middle class and maintain a vigorous economy, all while fighting climate change."
The Honourable Mélanie Joly, Minister of Economic Development and Official Languages
"We are the first in the world to make such a major shift in the HVAC industry. And above all, we are proud to help reduce greenhouse gases (GHG) through our ecological production, new reinvented factory and new biocomposite product."
François Lemieux, President, Annexair
- Today's announcement was made on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages.
- The funds are provided under CED's Quebec Economic Development Program.
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, 514-283-7443, [email protected]; Jeremy Ghio, Press Secretary, Office of the Minister of Economic Development and Official Languages, Email: [email protected]