Canada Economic Development

Canada Economic Development

July 16, 2014 06:45 ET

Government of Canada Supports Growth of Two Aerospace Companies

MONTRÉAL, QUEBEC--(Marketwired - July 16, 2014) - Canada Economic Development for the Regions of Quebec

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, took the opportunity while attending the Farnborough International Airshow today to announce funding to two Quebec aerospace companies.

The assistance has been awarded in the form of two repayable financial contributions totalling $1,375,000 through Canada Economic Development's Quebec Economic Development Program (QEDP).

Quick facts

  • Avior Integrated Products Inc. will thus receive $1 million for renovation work and specialized equipment to help increase the firm's production capacity.
  • Avior manufactures airplane and helicopter wing structure and fuselage assemblies as well as cockpit panels.
  • The firm Techniprodec Ltd, for its part, will receive $375,000 for strategic equipment to help improve its productivity.
  • Techniprodec specializes in the machining, manufacture and precision assembly of complex mechanical components for aircraft landing gear.

Quote

"By investing in the development of these two enterprises, our government is proving once again that it is committed to taking the necessary measures to raise the aerospace sector's potential for growth."

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

Related document

See the associated backgrounder for further details on these two projects.

Related link

For more information on the QEDP: http://www.dec-ced.gc.ca/eng/programs/qedp/index.html

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 through the Quebec Economic Development Program (QEDP)

Promoter Contribution / Investment / Description / Spinoffs
Avior Integrated Products Inc.
Repayable contribution of $1,000,000 on a total investment of $5,500,000.

In business since 2002, Avior Integrated Products Inc. is an aerospace subcontractor in the aircraft lightweight structures and mechanical assemblies sector.

The firm specializes in the manufacture of hybrid structures made from metal and advanced composite materials. Its primary products are wing structure, fuselage and cockpit components for airplanes and helicopters.

Avior currently supplies to such global aerospace industry leaders as Boeing, Bell Helicopter Textron and Bombardier.

The company's project aims to bolster its production capacity of lightweight structural assemblies through leasehold improvements, the upgrade of existing equipment and the acquisition of new specialized equipment.

Avior expects this project to lead to in an increase in sale and the creation of 75 jobs, 50 of them in Granby.
Techniprodec Ltd Repayable contribution of $375,000 on a total investment of $750,000.

Founded in 1975, Techniprodec Ltd is a Montréal company that occupies a prime position within its sector for the forming, machining, manufacture and precision assembly of complex mechanical components that meet stringent quality standards.

The enterprise currently manufactures, among other things, structural parts for Bell Helicopter and landing gear components for Messier Dowty and Héroux Devtek.

The financial assistance will be used to acquire specialized equipment.

With this project, Techniprodec expects to create six new jobs to add to its existing 50 positions.

Summary

Total number of projects: 2
Total contribution from Canada Economic Development: $1,375,000
Total investment generated by these projects: $6,250,000

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