Canada Economic Development

Canada Economic Development

May 08, 2014 16:10 ET

Government of Canada Supports Aluminium Valley Society's Market Development Efforts in Persian Gulf

ALMA, QUEBEC--(Marketwired - May 8, 2014) - Canada Economic Development

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, announces that the Aluminium Valley Society (AVS) has been granted funding to help position nine Saguenay-Lac-Saint-Jean equipment manufacturers in the Persian Gulf market. These enterprises possess internationally-recognized expertise in the design, manufacture and installation of equipment and systems for the primary aluminium industry.

The assistance announced today has been awarded in the form of $291,027 in total non-repayable funding through Canada Economic Development's Quebec Economic Development Program and is conditional on the signing of a contribution agreement between Canada Economic Development and the AVS.

Quick facts

  • The Aluminium Valley Society is coordinating the efforts to commercialize the nine participating equipment manufacturers' products and services to five aluminium smelters in the Persian Gulf.

  • The funding will be used to set up a place of business in a Persian Gulf country in order to forge lasting business relations in the region.

  • A study conducted in 2012 with the support of Canada Economic Development and other SVA partners found that Persian Gulf aluminium smelters represent a strong potential growth market for Saguenay-Lac-Saint-Jean equipment manufacturers.

  • An increased local presence will enable these enterprises to consolidate their activities in the region.

Quotes

"Our government is lending financial support to this project of the Aluminium Valley Society because it promises not only to help equipment manufacturers in the aluminium sector increase their share of export markets and become more competitive, but also to strengthen our national economy."

Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec

"The Aluminium Valley Society is always on the lookout for new business opportunities for Saguenay-Lac-Saint-Jean enterprises; export markets have a strong potential for spinoffs and we need to capitalize on that. This project will help us achieve that objective."

Arthur Gobeil, Chairman of the Aluminium Valley Society

Related link

Aluminium Valley Society Web site: http://www.valuminium.ca/index/index

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

Contact Information