Canada Economic Development

Canada Economic Development

March 12, 2010 10:30 ET

Equipe Fabconcept Inc. Receives $943,250 in Funding From Government of Canada

SAGUENAY, QUEBEC--(Marketwire - March 12, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced the awarding of $943,250 in funding from the Government of Canada to the firm Équipe Fabconcept Inc. This assistance package includes an $844,250 repayable contribution granted through the Innovation component of Canada Economic Development's Business and Regional Growth program, and $99,000 in non-repayable funding from Aboriginal Business Canada, a program of Indian and Northern Affairs Canada. Équipe Fabconcept will use this financial assistance to manufacture and market its new KASKOO-X04 amphibious all-terrain vehicle as well as to improve the company's existing manufacturing methods in order to better meet the growing demand for its products.

Équipe Fabconcept, a firm that has been operating in Saguenay for nearly 15 years, provides consulting and engineering services in the design and manufacture of specialized industrial equipment. The company's newest product, the KASKOO-XO4, stands out not only by virtue of its features, including the vehicle's lightweight design, speed, load capacity, buoyancy and versatility on inaccessible terrain, but also by the fact that aluminum is used in its manufacture. The development of this natural resource is highly advantageous for the Saguenay–Lac-Saint-Jean region, a world centre of excellence in aluminum production and processing.

"Équipe Fabconcept is yet another shining example of a Saguenay–Lac-Saint-Jean firm that is making a name for itself with its creativity and the quality of the products and services it offers. The KASKOO-XO4 it is in the process of developing is further evidence of this company's dynamism and innovativeness. This vehicle is sure to become another vector of regional pride. Canada Economic Development has decided to lend its financial assistance to the Équipe Fabconcept project because it promises not only to help maintain the firm's 12 existing jobs, but also to create at least three new positions, and possibly as many as six. Ultimately, up to 18 skilled workers will thus be able to practise their trade, in their field of specialization, right here in our region. We believe it is important in this period of economic slowdown to support an industry that contributes to the growth of the region," explained the Minister of State.

"With this announcement, our government is recognizing the impact that innovative companies like Équipe Fabconcept Inc. have on the local economy," added the Honourable Chuck Strahl, Minister of Indian and Northern Affairs Canada. "The Aboriginal Business Canada program is a concrete way of supporting Aboriginal enterprises that are offering quality products to Canadians."

Canada Economic Development's Business and Regional Growth program strengthens the conditions conducive to the sustainable growth of Quebec's regions and small and medium-sized enterprises. Its aims include, among other things, helping businesses improve their performance, become more competitive, engage more heavily in innovation and develop new markets.

Canada Economic Development is online at www.dec-ced.gc.ca. Subscribe to the Agency's press releases at
http://www.dec-ced.gc.ca/eng/media-room/mailing-list/list.html to keep up with the latest news.

Contact Information

  • Canada Economic Development
    Eleonore Cote
    Communications
    418-668-5928
    Cell.: 418-321-0295
    eleonore.cote@dec-ced.gc.ca
    or
    Canada Economic Development
    Office of the Honourable Denis Lebel
    Simon Bachand - Press Secretary
    613-996-6236
    simon.bachand@dec-ced.gc.ca
    or
    Indian and Northern Affairs Canada
    Media Relations
    819-953-1160