A sum of $383,000 from the Government of Canada will help Ingenio Aerospace and Raffinalla to carry out their initiatives
MONTREAL, Dec. 19, 2017 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Developing new markets undoubtedly helps to stimulate Canada's economic growth and also ensures the survival of Canadian businesses. The financial contribution announced today by the Government of Canada will help two innovative companies to market their products abroad.
The announcement was made by the Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville and Minister of Canadian Heritage, Minister of Canadian Heritage, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED.
Already active on foreign markets, Ingenio Aerospace will receive a repayable contribution of $198,000, which will help it identify new opportunities for its various electronic and mechanical components for corporate aircraft cabins and cockpits. Its innovative technology solutions, like its tablet holders for portable electronic devices, are custom-made to fit its clients' needs and specifications. Headquartered in Montreal, the company has been able to leverage the attributes of the Montreal region's aerospace technology hub to carve out a spot in the industry, and it intends to pursue its marketing efforts on the North American, European and Asian markets, notably by hiring specialists.
Specializing in the production of ready-made garments for women that are entirely designed and manufactured in Montreal, Raffinalla will receive $185,000 so it can diversify and expand its export markets in the United States and Europe. Raffinalla will also acquire a digital cutting robot to improve its productivity so it can remain competitive on the global market and solidify its choice to keep its product production in Montreal. It will also add specialized personnel to increase the visibility of its products and its share of foreign markets.
This funding is granted under CED's Quebec Economic Development Program, which supports initiatives that maintain and create quality jobs.
"The Government of Canada has implemented an ambitious approach to support businesses that invest in developing new markets. The financial contribution provided to Ingenio Aerospace and Raffinalla is concrete support to companies that have demonstrated their skills and, moreover, are ready to navigate new markets."
The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville and Minister of Canadian Heritage
"The Government of Canada is standing by its commitments and is helping businesses that pursue innovation to expand and export their products and services so they can create quality jobs, ensuring the success of the Canadian economy."
The Honourable Navdeep Bains, Minister responsible for CED
"The funding from CED will allow us to step up our foreign market penetration and showcase the expertise that we have developed in cutting-edge products with significant commercial potential in the aerospace industry."
James Edward Bell, President and CEO, Ingenio Aerospace
"The Raffinalla brand has earned an excellent reputation throughout its history by maintaining fashion trends, quality and fit of its products that help it compete on the international stage. Every product is designed, cut, sewn, tested and inspected in our Montreal workshops. The assistance provided will enable us to expand our exports, build our brand and remain on the leading edge of the market."
Steven Salpeter, President, Raffinalla
- CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
- For more information on CED's key directions until 2021, consult Strategic Plan 2021 or visit www.dec-ced.gc.ca.
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, 514-283-7443, firstname.lastname@example.org