An SME in Sorel-Tracy and an SME in Saint-Léonard-d'Aston will be able to enhance their productivity with the help of funding from Canada Economic Development for Quebec regions

Over $650,000 in Government of Canada assistance for innovative projects by Groupe P.N.F. and Aciers Richelieu

SOREL-TRACY, QC, Aug. 12, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

Steel and aluminum companies are key players in our economy and our supply chains, providing 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 that the Government of Canada would be awarding a total of $651,831 in non-repayable contributions to Saint-Léonard-d'Aston–based company Groupe P.N.F., and to Aciers Richelieu, based in Sorel-Tracy.

With the help of $475,632 in financial assistance, Le Groupe P.N.F. Inc. will be able to increase its productivity and production capacity by acquiring automated production equipment, including a frame production line, a robotic framing line and filter manufacturing machines. The contribution will also allow the company to update its management software and retrofit its plant.

Les Aciers Richelieu Inc. will use the $176,199 awarded by CED to purchase a CNC cutting machine and welding machines, and to refurbish its welding and cutting areas.

The funding was awarded under the Regional Economic Growth through Innovation (REGI) Steel and Aluminum Initiative announced in March 2019.

Delivered by the regional development agencies (RDAs), the initiative provides targeted support for Canadian small and medium-sized businesses in the steel and aluminum sector. Non-repayable contributions will allow these SMEs to adopt innovative technologies in order to enhance their productivity or competitiveness and create highly skilled jobs.

Citations

"By adopting a strategy aimed at supporting companies in the steel and aluminum sector, our government has chosen to assist Canadian companies that innovate to create value and capture new markets. The funding awarded to Groupe P.N.F. and Aciers Richelieu is a concrete support for companies that have demonstrated both their know-how and their commitment to growth and the creation of well-paid jobs for the middle class."

The Honourable Diane Lebouthillier, MP for Gaspésie–Les Îles-de-la-Madeleine and Minister of National Revenue

"Our government supports Canadian steel and aluminum sector workers, as well as businesses that play a key role in the economy of the regions. Our funding assists Canadian SMEs that produce or use these metals, and helps them innovate in order to increase their productivity, ensure their growth, capture new markets and create good jobs for the middle class."

The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED

Quick facts

• Today's announcement was made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which is made up of 17 federal departments and agencies, including CED and the other five RDAs.
• The RDAs help support Canadian innovation, as do 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 businesses with regionally tailored yet nationally consistent support to foster their productivity and scale-up and enhance regional technology clusters and innovation ecosystems in all regions.
• In 2018, Canada's steel and aluminum industry employed over 33,500 Canadians and contributed $8.9 billion to Canada's gross domestic product.
• To find out more about CED and its priorities, see the 2019–2020 Departmental Plan or visit www.dec-ced.gc.ca.

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SOURCE Canada Economic Development for Quebec Regions

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, 514-283-7443, [email protected]