Laval business can count on Government of Canada support to kick-start its growth and seize new business opportunities
LAVAL, QC, Jan. 16, 2020 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Electro-Kut manufactures and assembles unique, complex components for the aerospace sector. Founded in 1986, the business has developed strong expertise in the machining of cast and forged parts as well as in exotic alloy materials used in landing gear components.
Expansion and enhanced competitiveness
The SME, which has been facing a growing shortage of technical and specialized labour, is no longer able to meet its clientele's requirements and take full opportunity of business opportunities. To meet the growing global demand for specialized parts, Electro-Kut is therefore undertaking an ambitious automation, robotization and digitization project.
In this context, Élisabeth Brière, Parliamentary Secretary to the Minister of Economic Development and Official Languages (Canada Economic Development Agency for Quebec Regions), today announced that CED is granting the business a repayable contribution of $825,000.
This support will enable the Laval SME to purchase next-generation equipment to produce parts autonomously and continuously. Electro-Kut will be able to kick-start its growth in export markets and take full advantage of market opportunities in this booming sector.
It is the Government of Canada's mission to accompany Quebec's SMEs and regions into the economy of tomorrow and to help them seize emerging business opportunities. The aerospace industry plays a key economic role in Quebec and in Canada. By helping Electro-Kut position itself on the international scene, CED is encouraging innovation, growth and exports.
"Electro-Kut is the perfect example of a business that has been able to innovate in how it operates to overcome the growing labour shortage in Quebec. This project will enhance current jobs, in addition to increasing the company's competitiveness by automating and digitizing its production to support growth."
Élisabeth Brière, Parliamentary Secretary to the Minister of Economic Development and Official Languages
"We are here to support workers and Canadian SMEs. We are helping businesses to equip themselves adequately to grow and be competitive. Thanks to financial assistance from the Government of Canada, Electro-Kut can invest in new processes to position itself on the international stage and strengthen the aerospace cluster in Greater Montréal."
The Honourable Mélanie Joly, Minister of Economic Development and Official Languages
"Automation in aeronautics is a complex challenge that takes time to implement before we can reap all the benefits. A patient financial partner such as CED is critical in helping us to modernize our operations."
Christian Delisle, President, Electro-Kut
- Today's announcement was made on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages.
- CED's support is provided under the Regional Economic Growth through Innovation program. This program targets entrepreneurs leveraging innovation to optimize their organization's performance and competitiveness, as well as regional economic stakeholders seeking growth and innovation for the benefit of the community.
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, Communications Director, Office of the Minister of Economic Development and Official Languages, [email protected]