Canada Economic Development

Canada Economic Development

April 16, 2012 13:51 ET

Government of Canada Lends Financial Support to Chaudiere-Appalaches Flagship Metal Manufacturer

SAINT-FRANÇOIS-DE-LA-RIVIÈRE-DU-SUD, QUEBEC--(Marketwire - April 16, 2012) - The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that Roy Metal Products Inc. has received financial assistance that will allow the family business to acquire specialized equipment that will help improve its productivity and diversify its service offering.

"The Government of Canada's support to Roy Metal Products is a concrete example of its determination to foster the creation of jobs and economic growth," said Minister Lebel.

The enterprise is a subcontractor operating in the metal manufacturing sector. It works with steel, stainless steel, aluminium and brass to custom manufacture various products, including commercial and urban furniture. It boasts an international clientele, primarily of firms specializing in the manufacture of commercial furniture or consultants in interior design and decoration.

This regional flagship company has used the funding awarded to purchase a laser cutter. This project was part of a capital investment plan the firm adopted to modernize its machinery pool and thereby better integrate into the contracting value chain.

For further information on Roy Metal Products, visit Anglais www.roymetalinc.com/en

About the Temporary Initiative for the Strengthening of Quebec's Forest Economies (TISQFE)

This $240,000 in repayable funding has been awarded through Canada Economic Development's Temporary Initiative for the Strengthening of Quebec's Forest Economies (TISQFE).

The TISQFE was brought into force in June 2010 to help communities affected by the forestry crisis diversify their economies in order to ensure their growth and create and maintain employment. The initiative's goal is also to support secondary and tertiary wood processing projects in these communities.

This measure is one of several put in place by the Government of Canada in the past 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 $1 billion granted to the Pulp and Paper Green Transformation Program to help enterprises carry out environmentally-friendly projects and the $238 million invested, in collaboration with the Government of Quebec, for silvicultural work and the maintenance of multi-use forest roads. Workers have also received their fair share of support, considering the many measures the government has introduced to help them through the economic crisis.

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

Contact Information