Tariff response: Government of Canada invests close to $778,000 in Verbom to help it face current challenges

CED will enable aluminum industry business affected by U.S. tariffs to remain competitive in uncertain and changing market conditions.

VALCOURT, QC, May 13, 2026 /CNW/ - Canada Economic Development for Quebec Regions (CED)

Louis Villeneuve, Member of Parliament for Brome–Missisquoi, today announced, on behalf of the Honourable Mélanie Joly, Minister of Industry and Minister responsible for CED, a non‑repayable contribution of $777,751 for Verbom, a tariff-impacted business in the aluminum industry. This support is being granted under the Government of Canada's Regional Tariff Response Initiative (RTRI), delivered by Canada's regional development agencies.

Through this action, CED is helping the Cantons-de-l'Est business, which specializes in the design and manufacture of moulds and stamping dies and the production of complex aluminum parts, to acquire equipment and diversify its markets in order to improve its competitiveness. Implementing this project will also make it possible to consolidate over 200 well-paying jobs in the region.

Louis Villeneuve also took the opportunity to highlight the $1.5 billion in new measures announced on May 4, 2026, by Minister Joly. These measures aim to counter the tariff pressures resulting from the adjustment as of April 6, 2026, of U.S. tariffs on Canadian products containing steel, aluminum and copper. These measures include an additional $500 million through the RTRI and a new $1 billion financing program through the Business Development Bank of Canada. This program will enable SMEs to meet their urgent liquidity needs, maintain their operations and adapt to this unprecedented trade climate.

In the current economic context, the Government of Canada is focusing on structural measures to strengthen the Canadian economy. This involves supporting businesses as they diversify their markets in order to reinforce their economic resilience and consolidate their competitiveness to help them face tariff pressures. By investing in workers and businesses in strategic sectors such as the aluminum industry, the Government of Canada is helping to build a more resilient economy that is better able to adapt to market fluctuations, to the benefit of the entire country.

Quotes

"The aluminum industry is central to Quebec's manufacturing ecosystem and is an essential contributor to the economic vitality of several regions. In a climate where tariffs are placing increased pressure on this pillar of our economy, it is crucial to support businesses in this industry. Through CED, our government is helping SMEs so they can strengthen their competitiveness, evolve their business models and seize new market opportunities. This funding is a direct investment to ensure that the aluminum industry continues to play a key role in the Canadian economy."

The Honourable Mélanie Joly, Member of Parliament for Ahuntsic–Cartierville, Minister of Industry and Minister responsible for CED

"In today's economic climate and despite the uncertainty caused by the tariff environment, our businesses are demonstrating a remarkable ability to adapt and persevere. The support CED has announced for Verbom will enable the business to improve its production capacity and diversify its markets, thereby strengthening its competitiveness. By boosting the growth of this business specializing in aluminum moulding, we are helping to make the Cantons-de-l'Est economy more dynamic."

Louis Villeneuve, Member of Parliament for Brome–Missisquoi

"In an extremely competitive business environment undergoing constant change, Verbom salutes the federal government's initiative, which will benefit several businesses that are greatly in need of this assistance. The funding granted to Verbom will support several investments in equipment that will enable us to increase productivity at our three plants, while also guaranteeing the higher quality levels needed for the automotive and defence markets. Furthermore, a portion of the funding received will make it possible for us to multiply our efforts at market diversification in Europe, which are already bearing tangible, promising fruit."

Alexandre Gosselin, CEO, Verbom

Quick facts

• CED is taking action to support aluminum processors. Quebec has over 1700 aluminum processing businesses, representing 30,000 jobs. These businesses generate a total of $11.6B in sales annually.
• The funds have been provided under the Regional Tariff Response Initiative (RTRI), which is part of CED's Regional Economic Growth through Innovation (REGI) program.
• With a budget of $1.5 billion, this national initiative aims primarily to help SMEs negatively affected by tariffs to overcome their challenges to commercialization and to transform in order to remain competitive in the long term.
• The RTRI aligns with a broader Government of Canada tariff response plan, which includes over $6.5 billion in new measures to protect Canadian businesses and workers, including an expansion of the Strategic Innovation Fund, labour market development agreements, and the Large Enterprise Tariff Loan facility.
• CED is a key federal partner in Quebec's regional economic development. With its 12 business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow's economy.

Associated links

• Verbom
• Government of Canada announces a new $1 billion Business Development Bank of Canada program and $500 million in additional funding for the Regional Tariff Response Initiative, delivered by the regional development agencies - Canada.ca
• Regional Tariff Response Initiative
• CED financing and services

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SOURCE Canada Economic Development for Quebec Regions

Information: Media Relations: Canada Economic Development for Quebec Regions, [email protected]; Gabrielle Landry, Deputy Director, Media Relations, Office of the Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions, [email protected]