An SME in the Montérégie region will be able to enhance its productivity with the help of funding from Canada Economic Development for Quebec Regions

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An SME in the Montérégie region will be able to enhance its productivity with the help of funding from Canada Economic Development for Quebec Regions

Canada NewsWire

$396,000 in Government of Canada assistance for innovative investments by the Compagnie canadienne de tableaux noirs (CCTN/CBBC)

SAINT-CONSTANT, QC, Aug. 14, 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, Jean-Claude Poissant, Member of Parliament for La Prairie, announced a $396,000 non-repayable contribution for the Compagnie canadienne de tableaux noirs (CCTN/CBBC), a business in the Montérégie region.

This financial support from the Government of Canada will allow CCTN/CBBC to increase its productivity and production capacity by acquiring and implementing robotic equipment to digitize production processes.

The funding was awarded under the Regional Economic Growth through Innovation 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.

Quotes

"Through its strategy aimed at supporting companies in the steel and aluminum sector, the Government of Canada has chosen to assist innovative Canadian companies that come up with new ways of creating value, and which are seeking to penetrate new markets. The funding awarded to CCTN/CBBC aims to provide concrete support for a company that has demonstrated both its know-how and its commitment to growth and the creation of well-paid jobs for the middle class."

Jean-Claude Poissant, Member of Parliament for La Prairie

"Our government supports Canadian steel and aluminum sector workers, as well as businesses that play a key role in regional economies. Our funding assists Canadian SMEs that produce or use these metals, and helps them innovate in order to increase their productivity, grow, 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

"This is a much appreciated sign of confidence that will allow us to increase our production volume and ultimately create some 25 new jobs, most of which will be value-added. The automated laminator will be used to assemble different types of panels for use in various industries and markets in both Canada and the United States. It will have unique capabilities in terms of lamination compositions, dimensions and flexibility, and will also improve the environmental benefits."

Frédéric Tremblay, CEO, CCTN/CBBC

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 more than 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

View original content: http://www.newswire.ca/en/releases/archive/August2019/14/c4450.html

Copyright CNW Group 2019

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