Federal investment helps Alberta owned and operated business diversify its products, improve productivity, and reduce costs
LEDUC, AB, July 3, 2019 /CNW/ - Canada's steel and aluminum sector is a key contributor to the Canadian economy, providing well-paying jobs in regions across Canada.
Today, the Honourable Amarjeet Sohi, Minister of Natural Resources and Member of Parliament for Edmonton Mill Woods, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada, announced $447,480 in funding for Apollo Machine and Welding Ltd.
The funding is provided under the Regional Economic Growth through Innovation (REGI) Steel and Aluminum Initiative, announced in March 2019 and delivered by Canada's regional development agencies. Investments under REGI provide support to Canadian small- and medium-sized businesses in the steel, aluminum, and manufacturing sectors for projects that enhance productivity, increase competitiveness through new technologies, and create new jobs.
With this funding, Apollo-Clad Laser Cladding, a division of Apollo Machine and Welding Ltd. will purchase, modify, and install equipment for large-scale 3D printing to increase productivity and capacity.
Canada's steel and aluminum sector is an important contributor to our economy and to our manufacturing supply chains, providing thousands of Canadians with good middle-class jobs. Funding allocated under the Steel and Aluminum Initiative provides small- and medium-sized businesses with consistent support across all regions of Canada, while allowing for support to be tailored to meet regional needs.
"Our government supports the hard-working steel and aluminum workers and companies that are important to regional economies across Canada. Investments like this one support small- and medium-sized producers and users of steel and aluminum, and will help these businesses innovate to drive productivity, scale up, and expand into new markets to create good middle-class jobs."
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada
"Alberta's steel and aluminum sector is critical to the success of other industries across Alberta, Canada, and globally, including oil and gas, manufacturing, and advanced manufacturing. Our investment in innovative businesses, like Apollo Machine and Welding Ltd., promote productivity and competitiveness, while introducing innovations to drive business and create jobs."
- The Honourable Amarjeet Sohi, Minister of Natural Resources and Member of Parliament for Edmonton Mill Woods
"As an advanced manufacturing organization in Alberta, Apollo Machine and Welding Ltd. is excited to combine years of laser manufacturing know-how with university and industrial research to make large-scale 3D printing a reality in Alberta. Different from conventional 3D printing, this innovation will allow for large features to be printed on existing parts, while maintaining the quality requirements our customers have come to expect. The capabilities this system will bring to Apollo, will allow us to be competitive internationally in a number of industries."
- Dr. Douglas J. Hamre P.Eng., Research & Development Manager, Apollo Machine & Welding
- Regional development agencies, such as Western Economic Diversification Canada, are one of Canada's four flagship platforms supporting innovation, along with the Industrial Research Assistance Program, the Strategic Innovation Fund and the Canadian Trade Commissioner Service.
- The Regional Economic Growth through Innovation program builds on the objectives of the Innovation and Skills Plan by providing regionally tailored, nationally consistent support for business productivity and scale-up, and helping to enhance regional technology clusters and innovation ecosystems.
- In 2018, Canada's steel and aluminum industry employed more than 33,500 Canadians and contributed $8.9 billion to Canada's gross domestic product.
IF THERE IS A DISCREPANCY BETWEEN ANY PRINTED VERSION AND THE ELECTRONIC VERSION OF THIS NEWS RELEASE, THE ELECTRONIC VERSION WILL PREVAIL.
SOURCE Western Economic Diversification Canada
For further information: Narmin Hassam-Clark, Communications Advisor, Alberta Region, Western Economic Diversification Canada, Edmonton, Alberta, 780-399-1058, email@example.com; Doug Hamre, Ph.D., P.Eng., Research and Development Manager, Apollo-Clad Laser Cladding, Leduc, Alberta, 780-980-5231, firstname.lastname@example.org