$500,000 in financial assistance from the Government of Canada allowed this Laval-based company that manufactures fitness and strength equipment to go ahead with an acquisition project
LAVAL, QC, Nov. 6, 2017 /CNW/ - Canada Economic Development for Quebec Regions (CED)
To be able to create and market innovative products, businesses must be adequately resourced. To this end, the Government of Canada is committed to supporting innovative Canadian businesses. A driving force of the economy, innovation is the key to success, generating growth that benefits businesses and communities.
Angelo Iacono, MP for Alfred-Pellan, acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, announced that the Centre de conditionnement physique Atlantis inc. (Atlantis) has been granted $500,000, in the form of a repayable contribution, to enhance the company's productivity and support its expansion.
Created in 1986, Atlantis manufactures world-renowned fitness and strength equipment. The company's equipment integrates technological, biomechanical and ergonomic innovations for optimum use and safety by users and fitness specialists. The funding provided under CED's Quebec Economic Development Program (QEDP) allowed the company to acquire automated equipment. Being the only Canadian manufacturer in this field, Atlantis needs to enhance its competitiveness through process automation, which is exactly what this project allowed the company to do.
"I am proud of the Government of Canada's financial support for this company, which is known for its vitality, audacity and sense of innovation. The funding will allow Atlantis to pursue its development, thus generating economic growth and good-quality jobs."
Angelo Iacono, MP for Alfred-Pellan
"By helping businesses invest in equipment and devices that will enhance their performance, and by fostering product marketing and market development projects, the Government of Canada is standing by its commitment to promote expansion, innovation and exports."
The Honourable Navdeep Bains, Minister responsible for CED
"New production equipment has allowed us to achieve substantial productivity gains in recent months. This automation will make us more competitive and will permit us to pursue our global expansion."
Raymond Sansoucy, President and Founder, Centre de conditionnement physique Atlantis (Atlantis)
- 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.
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