Over $1.8M in Government of Canada assistance for innovative projects by AMT Die Casting, Cotech/Xmetal and Technologie InovaWeld
LA POCATIÈRE, QC, Aug. 13, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Steel and aluminum companies are major players in our economy and supply chains because they provide good jobs for thousands of middle-class Canadians.
Today, the Honourable Diane Lebouthillier, Member of Parliament for Gaspésie–Les Îles-de-la-Madeleine and Minister of National Revenue, announced the awarding of a total of $1,849,102 in non‑repayable contributions to AMT Die Casting Inc., 9091-4532 Québec Inc. (Cotech/Xmetal) and Technologie InovaWeld Inc., three Bas-Saint-Laurent companies operating in the steel and aluminum sectors.
With $1,000,000 in financial support, AMT Die Casting Inc. will be able to acquire advanced technologies, including a new-generation casting cell, automated systems, protocols and high‑performance interfaces for the use of these new technologies, in order to improve its production capacity.
Cotech/Xmetal will receive $628,000 in financial assistance to optimize its production capacity and productivity through the acquisition of robotic cells for manufacturing mechanical excavation and wheel loader equipment, as well as specialized software.
Finally, with a financial contribution of $221,102, Technologie InovaWeld Inc. will be able to improve its productivity and optimize its production capacity by acquiring and installing a robotic cell for forming lids, as well as a packaging robot and an automated cutting system.
This funding is awarded under the Steel and Aluminum Initiative of the Regional Economic Growth through Innovation program, announced in March 2019.
Administered by the regional development agencies (RDAs), this initiative provides targeted support to Canada's small- and medium-sized enterprises in the steel and aluminum sectors. Non-repayable contributions will enable these SMEs to adopt innovative technologies for increasing their productivity or competitiveness and create highly skilled jobs.
"Through its strategy aimed at supporting companies in the steel and aluminum sectors, our government has chosen to assist innovative Canadian companies that are seeking to enter new markets. The funding awarded to these three Bas-Saint-Laurent companies is intended to provide concrete support for companies that have demonstrated their expertise and their willingness to ensure their growth and create well-paying jobs for the middle class."
The Honourable Diane Lebouthillier, Member of Parliament for Gaspésie–Les Îles-de-la-Madeleine and Minister of National Revenue
"Our government supports Canadian workers in the steel and aluminum sectors, as well as companies that play an important role in Canada's regional economies. Our investments support Canadian SMEs that produce or use these metals and help them innovate in order to increase their productivity, expand, enter new markets and create good middle-class jobs."
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED
- Today's announcement is made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which comprises 17 federal departments and agencies, including CED and the other five RDAs.
- The RDAs help support Canadian innovation, along with the Industrial Research Assistance Program, the Strategic Innovation Fund and the Canadian Trade Commissioner Service.
- The REGI 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 by helping enhance regional technology clusters and innovation ecosystems in all regions.
- In 2018, Canada's steel and aluminum industries employed more than 33,500 Canadians and contributed $8.9 billion to Canada's gross domestic product.
- To find out more about CED and its priorities, see the2019–2020 Departmental Plan or visit www.dec-ced.gc.ca.
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SOURCE Canada Economic Development for Quebec Regions
For further information: Dani Keenan, Press Secretary, Office of the Minister of Innovation, Science and Economic Development, 343-291-1710; Media Relations, Canada Economic Development for Quebec Regions, Tel.: 514-283-7443, Email: [email protected]