BOISBRIAND, QUEBEC--(Marketwired - Aug. 17, 2016) - Canada Economic Development for Quebec Regions (CED)
Manufacturing companies must be able to rely on adequate resources in order to develop and commercialize their innovative products. The Government of Canada is committed to supporting Canadian businesses that are investing in innovation to sustain their growth and thereby generate positive spinoffs for Canadian communities and create well-paying jobs for the middle class.
Acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, Linda Lapointe, Member of Parliament for Rivière-des-Mille-Îles, today announced during the unveiling of the scale model for the Raufoss Automotive Components Canada plant expansion that the company received $2 million in financial assistance from the Government of Canada for the acquisition of modern high-performance equipment. This repayable contribution was granted through CED's Quebec Economic Development Program (QEDP).
The funding will enable Raufoss Canada, an enterprise constantly striving to innovate, to install a new forging line at its Boisbriand plant and thus bolster the facility's production capacity. This improvement will give the firm the means it needs to satisfy the demands of major manufacturers in the automotive industry.
An industry leader in the design, development and manufacture of aluminium chassis components for the automotive industry, Raufoss Canada is recognized for its use of innovative technologies in developing high-quality products. In addition to raising productivity, the project will contribute to job maintenance and creation at the Boisbriand plant.
"I am proud to highlight the success of Raufoss Canada, a company that provides quality jobs to citizens of the region and, in so doing, enables them to raise their standard of living. Congratulations on a fine project that will ensure the prosperity of this enterprise for years to come."
Linda Lapointe, Member of Parliament for Rivière-des-Mille-Îles
"By investing in innovation in manufacturing, the Government of Canada is staying true to its commitments and helping businesses expand, innovate and export their products in order to stimulate the growth of the Canadian economy."
The Honourable Navdeep Bains, Minister responsible for CED
"This investment in innovative technology is excellent news for Raufoss in Boisbriand. It will allow us to continue building our expertise in aluminium processing and make us more competitive in our market."
Jean Meredith, CEO, Raufoss Automotive Components Canada
CED is one of six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
To learn more about the QEDP: http://www.dec-ced.gc.ca/eng/programs/qedp/index.html
Raufoss Automotive Components Canada Website: www.neuman.at/gb/ExtruformHotForging
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