Canada Economic Development for Quebec Regions

Canada Economic Development for Quebec Regions

January 21, 2015 14:30 ET

Government of Canada Supports Growth of Alta Precision Inc.

MONTRÉAL, QUEBEC--(Marketwired - Jan. 21, 2015) - Canada Economic Development for Quebec Regions (CED)

Acting on behalf of 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, the Honourable Steven Blaney, Member of Parliament for Lévis, Bellechasse and des Etchemins and Minister of Public Safety and Emergency Preparedness Canada, today announced the awarding of financial assistance to Alta Precision Inc. to improve the firm's productivity and sustain its international growth.

This support has been granted in the form of a $1,100,000 repayable financial contribution through CED's Quebec Economic Development Program

Quick facts

  • The assistance will serve for the acquisition of manufacturing equipment and associated specialized tools, a project that will necessitate an overall investment of $7.4 million.
  • These acquisitions are in line with the firm's corporate strategy to bolster productivity and become a world-class supplier and number-one choice of international equipment manufacturers and builders in the aeronautics sector.
  • This project follows on last July's announcement at the Farnborough International Airshow that Alta Precision had been awarded a 20-year contract with the aircraft manufacturer Embraer.
  • Founded in 1979, Alta Precision Inc. is an innovative SME specializing in the manufacture of key landing gear components for civil and military aircraft. In 2014, over 90% of the firm's production went for export.

Quotes

"By assisting Alta Precision Inc. with the acquisition of manufacturing equipment, our government is showing once again that it is committed to supporting projects that help ensure the growth of our economy."

Steven Blaney, Member of Parliament for Lévis, Bellechasse and des Etchemins and Minister of Public Safety and Emergency Preparedness Canada

"The financial support of CED has been beneficial in allowing us to pursue our growth in recent years, and this project will help us further improve our sales and profitability, which will in turn allow us to create jobs and satisfy the requirements of our major clients."

Guillermo Alonso Jr, President, Alta Precision Inc.

Related link

Alta Precision Website: http://www.altaprecision.com/

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