Business specializing in industrial machining receives a total of $700,000 in financial assistance from CED.
LES ÎLES-DE-LA-MADELEINE, QC, Aug. 12, 2026 /CNW/ -- Canada Economic Development for Quebec Regions (CED)
The world is rapidly evolving, and the Government of Canada is investing to build a stronger, more independent, more resilient Canadian economy. By supporting businesses that manufacture, process and innovate right here in Canada, the government is contributing to economic development in Quebec's regions. That is why the Honourable Mélanie Joly, Minister of Industry and Minister responsible for CED, today announced two repayable contributions totalling $700,000 for OSM Atlantic to pursue its growth.
Established in 2015, OSM Atlantic is an industrial machining business specializing in the maintenance and high-precision restoration of large-scale diesel engines. More precisely, it inspects and restores oversized components in order to prolong their lifespan. The SME offers high value‑added specialized services with lasting benefits for the region and the strategic sectors it serves.
The business is receiving initial financial support of $450,000 to acquire and install specialized machining equipment in order to increase its production capacity and improve its productivity to meet the growing demand among its clients, including in the defence sector. A second funding amount of $250,000 aims, among other things, to boost the business's growth through the acquisition, refitting and expansion of a building for its operations. Through this CED assistance, OSM Atlantic will be able to increase its productivity, optimize its machining workshop and help strengthen the defence sector's capabilities.
The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. Canada's economic growth relies on organizations with strong roots in the regional economy; they are key assets in building a sustainable, inclusive economy.
Quotes
"By assisting OSM Atlantic with its projects, the Government of Canada is proudly investing in a promising Îles-de-la-Madeleine business. This support to expand its manufacturing operations will give it the tools it needs to strengthen its capacity to grow in the defence sector, directly in line with Canada's Defence Industrial Strategy. Its expertise will help to consolidate this vital sector, and its projects' spin-offs will benefit the entire region."
The Honourable Mélanie Joly, Member of Parliament for Ahuntsic–Cartierville, Minister of Industry and Minister responsible for CED
"In our industry, an unplanned engine stoppage clearly costs more than maintaining the equipment. We are proud to have seen OSM Atlantic grow since 2015 and develop specialized services that enable our clients to anticipate rather than react. CED's support acts as leverage for all our financial partners, allowing us to push this predictive maintenance approach further along--an adapted building, high-precision machining equipment--right here in Les Îles-de-la-Madeleine, for the maritime, energy and defence sectors."
Jean-Sébastien Aucoin, Chief Executive Officer, OSM Atlantic
Quick facts
- Funding has been granted under CED's Regional Economic Growth through Innovation program. This program targets entrepreneurs leveraging innovation to grow their businesses and enhance their competitiveness, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions.
- In Quebec, SMEs account for 99.7% of the province's businesses and 50% of its GDP.
- CED is a key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow's economy.
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SOURCE Canada Economic Development for Quebec Regions
Information: Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Isabella Orozco-Madison, Director of Communications, Office of the Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions, [email protected]
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