The Government of Canada is awarding financial assistance of over $900,000 to Metal 7 and Envirolik to carry out projects worth over $2.3 million.
SEPT-ÎLES, QC, July 18, 2018 /CNW Telbec/ - Canada Economic Development for the Regions of Quebec (CED)
In order to remain competitive and sustain growth, businesses must regularly improve and modernize their production facilities and their capacity to gain new market share. This explains why two enterprises based on the North Shore may receive CED backing for their expansion plans.
Thanks to financial support from the Government of Canada totalling $914,083, Metal 7 Inc. and Envirolik will be able to proceed with planned investments rated at over $2.3 million.
This announcement was made today by Stéphane Lauzon, Member of Parliament for Argenteuil–La Petite-Nation and Parliamentary Secretary for Sports and Persons with Disabilities, on behalf of the Minister of Innovation, Science and Economic Development and Minister responsible for CED, the Honourable Navdeep Bains.
The funds, allocated by the Government of Canada under CED's Quebec Economic Development Program, will enable the recipient firms to meet their growth objectives.
Metal 7 Inc. specializes in designing and making highly specialized equipment for the mining and aluminum smelting industries, exporting its solutions to more than 20 countries. Based in Sept-Îles, the company employs more than 85 people and is pursuing its expansion by adding leading-edge technologies. Valued at $740,000, CED's repayable contribution rounds out total investment exceeding $1.9 million.
Located in the Innu community of Uashat mak Mani-Utenam in Sept-Îles, Envirolik has gained a reputation for its traditional products such as boots, moccasins, tuques and mittens, marketed under the Attikus brand. The enterprise offers piece work to some 30 local craftspeople. The repayable contribution of $174,083 granted by CED on total investment of over $435,000 has allowed it to penetrate new markets.
"I am delighted with this financial support from CED, which brings to fruition major investments in the region. These two highly effective and future-oriented enterprises can serve as a source of inspiration through their contribution to the economic growth of their region and of Canada."
Stéphane Lauzon, MP for Argenteuil–La Petite-Nation and Parliamentary Secretary for Sports and Persons with Disabilities
"As Minister of Innovation, Science and Economic Development, my objective is to help businesses to grow and innovate so that they can become more competitive and create quality jobs and wealth for Canadians. This is why we are supporting these two enterprises, whose success redounds to the credit of the North Shore and the Canadian economy as a whole."
The Honourable Navdeep Bains, Minister responsible for CED
- CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
- The year 2018 marks the 50th anniversary of federal regional economic development in Quebec: half a century of concrete action targeting the growth of Quebec's regions and businesses.
- To find out more about CED and its priorities, see the 2018-2019 Departmental Plan 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