Acier Fortin Inc. Receives $300,300 in Funding from Government of Canada for Specialized Equipment

MONTMAGNY, QUEBEC--(Marketwire - Feb. 18, 2011) - Acting on behalf of the Honourable Denis Lebel, Minister of State for Canada Economic Development, Bernard Généreux, Member of Parliament for Montmagny–L'Islet–Kamouraska–Rivière-du-Loup, today announced the awarding of $300,300 in repayable funding to Acier Fortin Inc. Granted through the Temporary Initiative for the Strengthening of Quebec's Forest Economies, this financial assistance will enable the firm to acquire leading-edge equipment. 

"Canada Economic Development is pleased to lend its support to Acier Fortin, a company that is seeking to improve its strategic capabilities and productivity so that it will be ready to make the most of the economic recovery once it gets under way," explained Bernard Généreux.

Acier Fortin specializes in the manufacture of a variety of metal structures, bridge assemblies and steel frames for commercial, institutional and industrial buildings. The company is subcontracted to manufacture these products by a clientele consisting mainly of enterprises operating in the industrial construction sector in Canada and the United States. The dynamism and strategic vision of the company's president, Richard Gagné, are behind the project being announced today. Indeed, the acquisition of a latest-generation plasma cutting table and fully-automated multi-head angle punch will allow Acier Fortin to not only add certain services and enhance its bridge structure manufacturing capabilities, but also to preserve and create jobs, make considerable gains in productivity and increase sales.

A feather in the cap of the Chaudière-Appalaches metal manufacturing sector, Acier Fortin is squarely on the path to competitiveness. The company's project is part of a larger productivity enhancement strategy initiated several years ago and toward which Canada Economic Development granted $325,000 in repayable financial assistance in 2009 through the Community Adjustment Fund. This strategy involved the establishment of a fully-automated chain for the cutting, punching and trimming of various shapes and dimensions of steel.

About the TISQFE

Brought into force last June, the Temporary Initiative for the Strengthening of Quebec's Forest Economies was established to help communities affected by the forestry crisis diversify their economies in order to secure their development and create and maintain employment. The measure's aim is also to support the viability and sustainable growth of the small and medium-sized enterprises (SMEs) in these communities.

"The TISQFE is working very well. I am delighted that we are well on our way to reaching our goal of investing $50 million in Quebec in the first year of this initiative," Mr. Généreux added.

This measure is one of many put in place by the Government of Canada in recent months to counteract the effects of the forest crisis. Others include, for example, the Community Adjustment Fund, with its $1 billion budget over two years to mitigate the impacts of the crisis, the Pulp and Paper Green Transformation Program, toward which $1 billion has been granted to help enterprises carry out environmentally-friendly projects, and the investment of $230 million in collaboration with the Government of Quebec for silvicultural work and the restoration of bridges and culverts on multi-use forest roads. Workers have also benefited from their fair share of support, with the Government of Canada introducing some of the most generous measures in history to help them through the economic crisis.

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