Government of Canada awards nearly $1,000,000 to Régitex, Métal Labonté, PJB Industries and Composantes Lab-Co
SAINT-HONORÉ-DE-SHENLEY, QC, April 5, 2018 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
In 2017, the Government of Canada adopted an ambitious plan to support entrepreneurial drive through concrete initiatives. As a true economic driver, innovation is the key to success because it generates growth that benefits businesses and communities.
Thanks to financial support totalling $994,535 from the Government of Canada, Régitex Inc., Métal Labonté Inc. (website under construction), PJB Industries Inc. and Composantes Lab-Co Inc. will be able to move ahead with investment projects evaluated at more than $4.1 million. These include the installation of state-of-the-art equipment that will improve their production capacity and create 12 steady jobs in the region.
The announcement was made by David Lametti, Member of Parliament for LaSalle–Émard–Verdun and Parliamentary Secretary to the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Canada Economic Development for Quebec Regions.
The funding granted in the form of repayable contributions through CED's Quebec Economic Development Program will help the recipient businesses meet their growth objectives.
Quotes
"I am very pleased about the Government of Canada's financial support for these businesses, which set themselves apart by their drive, boldness and innovative spirit. The contributions will help them continue to develop and generate economic benefits for the entire community."
David Lametti, Member of Parliament for LaSalle–Émard–Verdun and Parliamentary Secretary to the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"In line with our commitment to foster growth for the Canadian economy, the Government of Canada's goal is to provide better support for businesses that are making investments to improve their productivity and ensure their growth and that of the Canadian economy."
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED
Quick facts
- 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.
- For more information on these projects, please see the attached backgrounder.
Backgrounder
| Proponent |
Contribution – Investments – Project description |
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Repayable contribution of $341,332 out of a total investment of $1,838,500
The project involves the acquisition of new specialized equipment that will help the manufacturer optimize production and continue to expand.
Founded in 1998, Régitex produces high tech yarn for the following markets: apparel, medical, industrial, protection of individuals and the environment, home furnishings and transportation. The company exports a large portion of its production and focuses on developing innovative products using leading-edge technology. It currently has 86 employees.
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(website under construction) |
Repayable contribution of $300,000 out of a total investment of $1,650,000
The financial support for this project is going toward the acquisition of a laser cutting machine. The new equipment will help the business improve its productivity and diversify its market share.
Métal Labonté has been in business since 1984, but under a new administration since 2012, and specializes in metal processing for the farm equipment, transportation equipment and steel frame sectors. The company currently has 21 employees. The project is expected to create five jobs.
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Repayable contribution of $188,000 out of a total investment of $470,000
The enterprise will be able to improve its productivity and increase its market share with the acquisition of a CNC hydraulic press brake and hoists, and the installation of three overhead cranes.
Founded in 1988, PJB Industries specializes in metal processing for the heavy machinery industry, especially machinery used in forestry, mining, construction and public works. It designs and manufactures excavator and loader accessories and tools, such as quick couplers, buckets, forks, grappling hooks and snow scrapers. The company currently has 29 employees. The project is expected to create three jobs.
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Repayable contribution of $106,535 out of a total investment of $273,070
The project involves improving the company's productivity and increasing its production capacity through the acquisition and installation of a sander and a dust collector.
Incorporated in 1986, Composantes Lab-Co is an SME that manufactures standard and custom stair components using a variety of wood species, as well as hardwood panels. Its clientele consists of specialty shops, large hardware stores, cabinetmakers and furniture manufacturers. It sells most of its products in Quebec and Ontario. The company currently has 21 employees. The project is expected to create four jobs.
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Summary |
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Stay connected
- Follow CED on Twitter, LinkedIn and YouTube
- Visit CED's Media Room
- Follow Régitex on Facebook, Twitter, LinkedIn, You Tube
- Follow Métal Labonté on Facebook, LinkedIn
- Follow PJB Industries on Facebook
SOURCE Canada Economic Development for Quebec Regions
Media Relations, Canada Economic Development for Quebec Regions, 514-283-7443, [email protected]
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