Scott Bader ATC, Soucy Plastiques and Chrome Drummond, as well as CAE Drummond, will share over $3.1 million
DRUMMONDVILLE, QC, Aug. 9, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Scott Bader ATC, Soucy Plastiques and Chrome Drummond, three highly innovative companies that employ over 150 people in the Centre-du-Québec region, will be able to pursue their growth with the help of a total of $1,350,000 in repayable contributions from Canada Economic Development for Quebec Regions. In addition, the Fonds de développement économique Laprade-Drummond (CAE Drummond) has been awarded a non-repayable contribution of $1,779,109 over five years (2019–2024) to provide coaching services and funding for small businesses and young entrepreneurs and to carry out local economic development activities in the area it serves.
The funding was announced today by the Honourable François-Philippe Champagne, Member of Parliament for Saint‑Maurice–Champlain and Minister of Infrastructure and Communities. This Government of Canada assistance will spur economic development in the Centre-du-Québec region and foster the creation of good‑quality jobs for the middle class.
A driving force of the economy, innovation is key to success because it generates growth that benefits both businesses and communities. This is why the Government of Canada aims to ensure that businesses are able to rely on adequate resources to create and market innovative products.
The Government of Canada is also committed to creating close partnerships with Quebec businesses and organizations to support their efforts to innovate and increase their productivity and competitiveness, and to contribute to the economic vitality of the regions and the improvement of citizens' quality of life.
"The Government of Canada is determined to support the economic growth of Quebec and its regions. By investing in the growth of businesses and organizations like those targeted by today's announcement, we are helping to make our regions more prosperous. Our government stands by its commitment to foster expansion and innovation and grow exports. I applaud the hard work of the Centre-du-Québec entrepreneurs who are contributing to our country's economic success."
The Honourable François-Philippe Champagne, Minister of Infrastructure and Communities
"As Minister of Innovation, Science and Economic Development, my goal is to help businesses grow and innovate so that they can enhance their competitiveness and make a name for themselves in new markets, thus creating good-quality jobs and wealth for Canadians. The funding awarded today provides tangible evidence of this commitment through support for businesses and organizations whose success and vitality reflects on the region and on the Canadian economy as a whole."
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 awarded to Scott Bader ATC, Soucy Plastiques and Chrome Drummond was provided under CED's Regional Economic Growth through Innovation program. This 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.
- The financial support for CAE Drummond was awarded under the Community Futures Program (CFP). This program funds the operations of Canada's 269 Community Futures Development Corporations (CFDCs) and Business Development Corporations (BDCs). The CFP recognizes the expertise of local decision-makers and the autonomy of decision-making, with a view to encouraging communities to become involved in taking charge of their futures. CED is responsible for implementing the CFP in Quebec.
- To find out more about CED and its priorities, see the 2019–2020 Departmental Plan or visit www.dec-ced.gc.ca.
- For more information about the projects, please refer to the related backgrounder.
Contribution – Investment – Project Description
Non-repayable contribution of $1,779,109
The Fonds de développement économique Laprade-Drummond Inc. (CAE Drummond) is a non-profit organization whose mission is to stimulate economic development in its local communities.
The project aims to ensure the operation of the fund over a five-year period so that it can provide financing and support services to small businesses and young entrepreneurs, and carry out local economic development activities in its area.
CED's contribution will cover all of the organization's operating costs.
The project will maintain 4 jobs.
Repayable contribution of $800,000
Founded in 1987, Soucy Plastiques Inc. is an independent subsidiary of Soucy Group, a manufacturing company specializing in the moulding of ultra-high molecular density polyethylene parts for industrial markets, motor sports, the agricultural, defence and various other sectors. This SME primarily manufactures wheels and sprockets used in track traction systems found on certain vehicles.
The project aims to ensure the company's growth by improving its productivity and optimizing its production capacity.
CED's contribution will focus more specifically on the acquisition of new presses and quality control equipment, as well as the costs of robotization and automation for the handling and finishing of large parts.
The project will create 10 specialized jobs.
Repayable contribution of $350,000
Founded in 1988 in Drummondville, Scott Bader ATC Inc. specializes in the manufacturing of polyester and vinylester adhesives for the composites industry. Since 2013, the SME has been a subsidiary of the British multinational Scott Bader Company Limited, which acquired all its share capital. The multinational's only Canadian factory markets more than 80 different adhesive formulations through a network of distributors as well as with a few customers who are primarily in the marine industry.
The project aims to support the company's growth through the purchase of digital equipment. The investments will be used to renovate the plant, automate the supply and dosing of the resin and powders as well as implement an integrated production management system.
CED's contribution will focus on automating the supply and dosing of resin and powders.
The project will help consolidate 26 jobs.
Repayable contribution of $200,000
Founded in 1987, Chrome Drummond (1987) Inc., also known as Placage CrD, is a manufacturing company specialized in zinc plating. Electro galvanizing is a process used to protect metal parts from corrosion. Although the company does not export directly, it is integrated into the value chain of several large exporting companies.
The project aims to ensure the company's growth by improving its productivity and optimizing its production capacity. It involves building a new plant, acquiring new equipment and implementing an integrated production management system.
CED's contribution will focus on the integrated management system and the acquisition of production equipment, which includes tanks for the plating line, a bridge crane and ventilation systems.
The project will create 4 jobs.
- Follow CED on Twitter, LinkedIn and YouTube
- Follow Groupe Soucy on Facebook, LinkedIn, Twitter and YouTube
- Follow Scott Bader on Facebook, LinkedIn and Twitter
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, 514-283-7443, firstname.lastname@example.org