Canada Economic Development

Canada Economic Development

November 12, 2013 10:30 ET

Government of Canada Grants Financial Support for Three Productivity Enhancement Projects in Val-d'Or

VAL-D'OR, QUEBEC--(Marketwired - Nov. 12, 2013) - The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, was in Abitibi-Témiscamingue today to announce financial assistance to the Northern Mining Transit Center Inc. and two Val d'Or enterprises, Fusion AlumInox Inc. and Les Œufs d'Or Inc., for the acquisition of equipment.

"The Government of Canada sees it as essential to support the growth of organizations and businesses whose projects will stimulate new job creationin Abitibi-Témiscamingue," said Minister Lebel.

The Northern Mining Transit Center, Les Œufs d'Or and Fusion AlumInox will use this assistance for the purchase of specialized equipment to improve their productivity, thus allowing them to offer high-quality products and services to their expanding customer base. These investments will generate multiple benefits in the region, notably in terms of business growth, job creation and economic diversification.

Information:

This support, totalling $375,355, has been awarded through Canada Economic Development's Quebec Economic Development Program in the form of $90,470 in non-repayable funding to the Northern Mining Transit Center and repayable contributions of $251,385 to Les Œufs d'Or and $33,500 to Fusion AlumInox.

Please see the related backgrounder for further details on these projects.

Keep up with the latest news from Canada Economic Development by visiting www.dec-ced.gc.ca or subscribing to Twitter @CanEconDev.

Financial assistance granted under the
Quebec Economic Development Program(QEDP)

Val-d'Or

Promoter Description - Investment - Contribution
Les Œufs d'Or Inc. Repayable contribution of $251,385 on a total investment of $662,769

The poultry producer Les Œufs d'Or Inc. supplies eggs to several large food distributors. Founded in 1946, the family-run business also manufactures an organic fertilizer that is sold in Quebec, Alberta and the United States under the brand name Écolo-Nature.

The project of the 10-employee firm involves acquiring specialized equipment in order to increase production of this organic fertilizer. This will allow Les Œufs d'Or Inc. to optimize its manufacturing operations, diversify its markets and thereby harness the growing demand for its product.

The enterprise expects this project will result in the creation of one full-time and two part-time jobs within the next two years.
Northern Mining Transit CenterInc. Non-repayable contribution of $90,470 on a total investment of $157,100

The Northern Mining Transit Center (CTMN) provides services to mining companies and suppliers for the transit of goods, the transportation of personnel to and from remote sites, and the handling and storage of cargo. The Center also offers office rental space for enterprises wanting to use its airport services in their logistical chain.

The CTMN's project will enable the Center to acquire equipment and reconfigure its storage areas to better meet customer needs, thus allowing it to offer new services, notably in the area of cargo loading.

Completion of this project is expected to lead to the creation of three jobs and produce positive benefits for all of the Center's clientele.
Fusion AlumInox Inc. Repayable contribution of $33,500 on a total investment of $93,000

Fusion AlumInox Inc. is a manufacturer of aluminum and stainless steel products. The firm specializes in the mass and custom design of architectural elements, furniture and all forms of mechanical products for the mining, transportation, building, food services and health industries.

The contribution will serve to finance the purchase of semi-automated equipment. This will enable Fusion AlumInox, which has been in operation in Val-d'Or since 2011, to increase its manufacturing capacity and provide high-quality products to its customers.

This project will generate positive spinoffs by helping to diversify the region's entrepreneurial fabric. The young firm, which currently employs two people, expects to create an additional part-time job as a result of this investment.

Summary

Total number of projects: 3

Total contribution from Canada Economic Development: $375,355

Total investment generated by these projects: $912,869

Contact Information