Thermotech to increase its productivity and continue its expansion

Government of Canada awards $450,000 in financial assistance to Thermotech in the Hautes-Laurentides region

MONT-LAURIER, QC, Aug. 22, 2017 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

By investing in the production capacity of businesses, the Government of Canada is staying true to its commitments and helping businesses expand, innovate and export their products to create high-quality jobs and ensure the prosperity of our national and regional economies.

Acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, David Graham, Member of Parliament for Laurentides–Labelle, announced that Thermotech would receive $450,000 in financial assistance, in the form of a repayable contribution, to improve the company's productivity and increase its production capacity by purchasing new equipment.

Thermotech is a thermal glass manufacturer that began its operations in 2002. Thermotech's products are used in door and window manufacturing. The company markets its range of products under the brand name Fenomax.

The funding awarded under CED's Quebec Economic Development Program (QEDP) will enable the company to purchase and install new equipment required to set up an automated thermal glass production line.

QUOTES

"The Government of Canada helps businesses and sectors of the Canadian economy by making investments that encourage their productivity and support their competitiveness. We are proud to invest in Thermotech, whose partnership aligns closely with the measures we have taken to meet our commitment. The economies of the Hautes-Laurentides region and Quebec as a whole will benefit from this assistance."

David Graham, Member of Parliament for Laurentides–Labelle

"As Minister of Innovation, Science and Economic Development, my goal is to help businesses grow, innovate and export so they can create good quality jobs and wealth for Canadians. That is why we support regional economic development partners like Thermotech."

The Honourable Navdeep Bains, Minister responsible for CED

"Thermotech has expanded rapidly over the past few years with the opening of a number of FENOMAX locations across Quebec and Ontario. CED's financial assistance will enable us to further increase our thermal glass production and better meet demand, while developing new markets."

François Poudrier, President, Thermotech

Quick facts

• CED is one of six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
• To learn more about CED's key directions up to 2021, consult Strategic Plan 2021 or visit www.dec-ced.gc.ca.

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SOURCE Canada Economic Development for Quebec Regions

Media Relations, Canada Economic Development for Quebec Regions, Tel.: [phone], Email: [email protected]