Government of Canada Announces Funding for Job-Creating Project

LAVAL, QUEBEC--(Marketwire - Feb. 22, 2012) - Acting on behalf of the Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, Jacques Gourde, Member of Parliament for Lotbinière-Chutes-de-la-Chaudière, today announced that the firm Électro-Kut Inc. has been granted financial assistance from the Government of Canada. The enterprise will use this support to acquire high-precision, state-of-the-art equipment for the manufacture of innovative parts and components for the aerospace industry.

"Our government is determined to stimulate economic growth and job creation," commented Mr. Gourde. "This investment will enable Électro-Kut to improve its competitiveness and, according to the company's management, create as many as 15 new jobs within the next three years."

This iniative is expected to generate major spinoffs, notably in terms of the transfer of technology and research outputs and the development of new markets. The project, which necessitated an overall investment of more than $2.5 million, has allowed Électro-Kut to implement a better method of operating and boost its production capabilities in order to meet the increasingly stringent demands of major contractors in the aerospace industry.

Founded in 1986, Électro-Kut specializes in the manufacture of complex, one-off metal parts using computer numerical control and electro-discharge machining processes. Since 2007, this innovative and dynamic enterprise has invested heavily in research and development and the modernization of its technological equipment to gain a solid foothold in the aerospace market.

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This $800,000 in repayable funding has been granted through Canada Economic Development's Business and Regional Growth program.

To learn more about Électro-Kut Inc., visit www.electro-kut.com.

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