Financial support for five Saguenay businesses to support their growth and market development
Government of Canada awards more than $2.5 million to PCP Aluminium, Microbrasserie du Saguenay, Industries DODEC, Noriske and Formothane Saguenay
SAGUENAY, QC, April 30, 2018 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Businesses need to be able to rely on adequate resources to create and commercialize innovative products. In 2017, the Government of Canada adopted an ambitious plan to support innovative Canadian enterprises. As a true economic driver, innovation is essential to Canada's success in that it generates growth that benefits businesses and communities.
Five Saguenay businesses - PCP Aluminium (6482066 Qc Inc.), Microbrasserie du Saguenay (9216-3146 Qc Inc.) [website in French only], Industries DODEC Inc., Noriske [formerly known as Équipement Saguenay (1982) Ltée] and Formothane Saguenay Inc. - will be able to rely on financial assistance from the Government of Canada to improve their production capacity, implement commercialization strategies and acquire strategic equipment. These projects will generate total investments of more than $7.6 million and create 38 new jobs in the area.
The repayable contributions totalling $2,654,172 were announced today by the Honourable Diane Lebouthillier, Minister of National Revenue, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED.
The funding awarded by the Government of Canada through CED's Quebec Economic Development Program will help the recipient businesses achieve their growth objectives.
Quotes
"Quebec and Canadian entrepreneurs are key players in our economy. To ensure the growth of their enterprises and foster the creation of good, well-paying jobs, they have to be able to rely on the best equipment and easily access international markets. I am very pleased about the assistance granted today to five dynamic businesses that will be able to contribute to economic growth in their region and in Canada."
The Honourable Diane Lebouthillier, Minister of National Revenue
"As the Minister of Innovation, Science and Economic Development, my goal is to help businesses grow and innovate so that they can become more competitive in the market and create good-quality jobs and wealth for Canadians. That is why we are supporting these five enterprises, whose successes benefit the region and the Canadian economy overall."
The Honourable Navdeep Bains, Minister responsible for CED
Quick facts
- CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
- For more information on CED's key directions until 2021, consult Strategic Plan 2021 or visit www.dec-ced.gc.ca.
- Budget 2018 proposes to provide an additional $511 million in funding over five years on a cash basis, starting in 2018–2019, for the regional development agencies to support the Innovation and Skills Plan across all regions of Canada.
- Of the $511 million, $99 million will be allocated to CED, of which $22 million will go toward supporting the new Women Entrepreneurship Strategy.
- For more information on these projects, please see the attached backgrounder.
Backgrounder
| Proponent |
Contribution – Investments – Project description |
| 6482066 Québec Inc. (PCP Aluminium) |
Three repayable contributions of $517,500, $440,500 and $240,000 out of a total investment of $3,206,000 CED's assistance covers two expansion and productivity improvement projects and a marketing and export project. With these contributions, the Saguenay SME can acquire leading-edge production equipment, including a plate saw and an aluminum chip management system, and cover the fees and expenses related to the plant layout. CED's assistance will also cover the cost of equipment needed to optimize the milling system, thus reducing the company's manufacturing lead time and helping it grow. With one of these contributions, CED is supporting PCP Aluminium's marketing strategy in Mexico and South America, which involves opening a sales office in Mexico, hiring two business representatives, making representations to potential clients, taking part in international trade shows and implementing a communications/marketing plan. PCP Aluminium has been in business since 2006 and operates in the aluminum processing sector, cutting and fabricating aluminum plates and blocks of various sizes and thicknesses to meet client needs (trade-marks: ALCA 5, MAX 5, ALCAMAX and BUSPLATE). Its products are used in the aerospace industry; the manufacture of industrial equipment, moulds and templates for the marine and automobile industries; plastic processing; precision machining; the construction of devices; and electricity transmission. The company has 55 employees and these three projects will create 10 additional jobs. |
| 9216-3146 Québec Inc. (Microbrasserie du Saguenay) [website in French only] |
Repayable contribution of $664,400 out of a total investment of $2,495,500 The purpose of the project is to grow the business and improve productivity through the acquisition of production equipment. CED's contribution will go toward the purchase of equipment needed for the canning process, namely a centrifuge and fermenters. Demand for beer produced by this young company has increased dramatically, so the microbrewery has to boost its production capacity accordingly. It plans to increase annual production from 12,000 to 28,000 hectolitres. It will then be able to develop other markets, including the United States and Japan.
Microbrasserie du Saguenay is an industrial microbrewery and is part of the Voie Maltée group. It has been producing some 20 beer varieties since 2015. Its original, innovative products are sold in cans and kegs at many supermarkets, including Métro, IGA, Super C, Costco and Sobey's, and at specialty shops. Beer lovers can also sample these products at establishments across Quebec. La Voie Maltée currently employs 14 people, and the project will add seven new jobs. |
| Two repayable contributions of $391,500 and $105,990 out of a total investment of $1,136,299 CED's assistance covers an expansion and productivity improvement project and a marketing and export project. With CED's assistance, the company was able to acquire and install equipment, including a robotic welder and hydraulic plate rollers. With this high-precision equipment, the business has improved its productivity and can take on another project, that of diversifying its markets. The enterprise has launched a marketing project in the northeastern United States and in West Africa, which involves hiring an international business development expert; developing or updating communications tools, including a Web strategy; making representations to potential clients; and participating in trade shows and exhibitions. With the expertise of its 80 employees, the business has been manufacturing and repairing industrial parts since 1975, including various components such as lifting appliances, dam gates, hydro-mechanical parts, gears, crucibles, buckets and mechanically welded parts. The company is part of prime contractor value chains in the renewable energy, aluminum, forestry and mining sectors. DODEC offers a fully integrated service line to its clients, from design to installation. The SME sets itself apart because it is the only certified Hardox Wearparts company in Saguenay–Lac-St-Jean. It is also the only authorized Sumitomo repair outlet in the region and is authorized by FLSmidth for the repair of heavy equipment. The enterprise is also the only Quebec distributor of Toolox engineering steel. The projects will help create seven jobs. |
|
| [Équipement Saguenay (1982) Ltée] |
Repayable contribution of $217,282 out of a total investment of $434,564 CED's assistance covers a marketing, export, productivity and expansion project. With CED's assistance, the enterprise was able to boost its production capacity and start implementing a marketing strategy in the United States to grow the business on the international scene. The project activities, all of which are covered by CED's assistance, include the acquisition of production equipment, the development of communications tools, advertising, promotion and representation. Founded in 1982, Noriske [also known as Équipement Saguenay (1982) Ltée.] designs and manufactures protective equipment to ensure the safety of workers in industrial environments that present difficult conditions and where there is a risk of injury and death. The Saguenay enterprise is the main supplier for the aluminum industry in Canada and also supplies paper mills, foundries and municipalities in Quebec. Owned by the Savard family since 1982 and transferred to the second generation in 2004, Noriske employs 58 people. The project will help create 10 jobs. |
| Repayable contribution of $77,000 out of a total investment of $355,000 CED's assistance covers an enterprise creation and start-up project. The various project costs are related to the acquisition of production and storage equipment, a computer system and raw materials; leasehold improvements; and working capital injection. CED's contribution will cover the acquisition of the equipment and computer system and leasehold improvements. Founded in Saguenay in 2017, Formothane Saguenay specializes in the distribution and processing of all types of plastic and the moulding of urethane parts. This innovative SME welds all types of polymers, making the products resistant to corrosion, abrasion, UV rays, mould and chemicals. The company will be part of two prime contractor value chains in the Saguenay–Lac-Saint-Jean region (Rio Tinto Alcan and Resolute Forest Products). This business start-up will create four jobs in the region. |
|
| Summary |
|
Stay connected
Follow CED on Twitter, LinkedIn, YouTube
Follow PCP Aluminium on Facebook, YouTube
Follow Microbrasserie du Saguenay on Facebook
Follow Industries DODEC on Facebook, LinkedIn
Follow Formothane on Facebook
SOURCE Canada Economic Development for Quebec Regions
Media Relations, Canada Economic Development for Quebec Regions, Tel.: 514-283-7443, Email: [email protected]
Share this article