Nearly $1.9 million to stimulate the development of four Val-d'Or businesses

Government of Canada supports innovative projects by CIMDAT, Usinage X-Spec, Atelier Val-d'Or and Les Entreprises Parlec

VAL-D'OR, QC, March 27, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

Four innovative Val-d'Or businesses, whose main clients are major prime manufacturers in the mining and forestry sectors, will be able to continue their growth more effectively with the help of a total of $1,897,810 in repayable contributions from Canada Economic Development for Quebec Regions.

With this financial assistance, CIMDAT (37000763 Canada Inc.), Usinage X-Spec Inc., Atelier d'usinage et de soudure Val d'Or Inc. (Atelier Val-d'Or) and Les Entreprises Parlec Ltd. will be able to optimize their operations and improve their productivity, including through the purchase of state-of-the-art digital equipment.

The funding was announced today by Rémi Massé, Member of Parliament for Avignon–La Mitis–Matane–Matapédia and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development. The Government of Canada's assistance will help the recipient businesses achieve their set objectives. Their respective projects will generate total investments of nearly $5 million and create eight new jobs in Val-d'Or, in the Abitibi-Témiscamingue region.

The Government of Canada is committed to creating close partnerships with Quebec businesses to support their efforts to innovate, increase their productivity and competitiveness, and contribute to the economic vitality of the regions, the creation of jobs and the improvement of citizens' quality of life.

Quotes
"I am very pleased about this support from the Government of Canada, which has decided to build on the innovation capacity and commitment to progress of these businesses that are setting themselves apart in a constantly changing market. Their drive, boldness and innovative spirit are contributing to the economic vitality of Val-d'Or and the Abitibi-Témiscamingue region."

Rémi Massé, Parliamentary Secretary to the Minister of Innovation, Science and Economic Development

"By helping businesses invest in equipment and devices that will improve their performance and in marketing strategies that will assist their entry into new markets, the Government of Canada is standing by its commitments to drive expansion, innovation and exports."

The Honourable Navdeep Bains, 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 regional development agencies.

The funding was awarded under CED's Quebec Economic Development Program. For more information on CED and its priorities, consult the 2018-2019 Departmental Plan or visit www.dec-ced.gc.ca.

For 50 years now, the Government of Canada has been actively participating in regional economic development in Quebec: half a century of concrete action dedicated to the development of the regions and local businesses.

Related product
For more information about the projects, please refer to the related backgrounder.

Related backgrounder

Proponent	Contribution – Investment – Description of the project
CIMDAT (3700763 Canada Inc.)	Repayable contribution of $703,475 out of a total investment of $2,125,000 Founded in 2001, CIMDAT specializes in cutting large-sized panels for major prime manufacturers in the forestry sector. The company also offers auxiliary painting, stamping, strapping and packaging services. The project, which will create three jobs, is aimed at improving the business's productivity and growth. To achieve this, CIMDAT will be purchasing state-of-the-art digital equipment, expanding and fitting up its plant, and building a warehouse. CED's contribution will be used to expand and fit up the building, as well as to purchase and install new equipment: a paint room, automated strapping machines, conveyors, rollers, a mill, and other equipment to optimize its manufacturing operations.
Usinage X-Spec Inc.	Repayable contribution of $473,535 out of a total investment of $1,172,070 Usinage X-Spec Inc. specializes in the manufacturing of parts for the drilling industry. Established in 2006, the company has a mobile machining unit that it uses to work on heavy machinery directly on the premises of its clients, major prime manufacturers in the mining industry. In addition to serving clients in Abitibi-Témiscamingue and northeastern Ontario, Usinage X-Spec exports its parts to Mexico, the United States, Russia, Germany and New Zealand. The goal of the project is to improve the company's productivity and growth through the optimization of its operations to manufacture parts for the mining industry. The acquisition of state-of-the-art digital equipment and the fit-up work at the plant will also help increase the business's productivity. CED's assistance will go toward the purchase and installation of technological equipment and its component parts. The project will create two jobs.
Atelier d'usinage et de soudure Val d'Or Inc.	Repayable contribution of $362,900 out of a total investment of $888,050 Atelier d'usinage et de soudure Val d'Or Inc. (Atelier Val-d'Or) has been in operation since 1976 and is part of the value chain of major prime manufacturers in the mining industry. The business mainly manufactures hydraulic drills for diamond drilling. Its products stand out for their low noise emissions, reliability, hydraulic tube handling and ability to drill at great depths. Although its clients are located primarily in the Abitibi-Témiscamingue and northeastern Ontario regions, Atelier Val-d'Or also exports its parts to the United States, South America and Asia. The purpose of the project is to improve the company's productivity and growth through optimizing its operations to manufacture hydraulic drills for diamond drilling and increasing its services to businesses requiring the machining of large, heavy and complex parts. It involves purchasing state-of-the-art digital equipment and completing fit-up work at the plant. CED's financial contribution will be used to purchase and install a digitally controlled boring machine and its component parts.  This project will create two jobs.
Les Entreprises Parlec Ltd.	Repayable contribution of $357,900 out of a total investment of $715,000  Established in 1976, Les Entreprises Parlec Ltd. is an SME specialized in the machining of parts for the mining and forestry sectors. It has been led by two young entrepreneurs since 2006. As part of a value chain of major prime manufacturers, Parlec sub-contracts for global distributors and manufacturers of diamond products and sells its products to regional businesses. The project, which will add one resource to the existing team of about twenty employees, involves purchasing state-of-the-art digital equipment. The business also intends to ensure its growth by increasing its productivity and production capacity, as well as to improve its innovation capacity. CED's assistance will go toward the purchase and installation of digitally controlled production equipment, namely a new-generation machining centre and tools.
Summary	Number of projects: 4 Number of jobs created: 8 CED's contributions: $1,897,810 Total investments generated by these projects: $4,900,120

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SOURCE Canada Economic Development for Quebec Regions

Media Relations, Canada Economic Development for Quebec Regions, Tel.: [phone], Email: [email protected]