Canada Economic Development



Canada Economic Development

October 09, 2012 10:30 ET

Immobilisation 2010 Inc. and its Subsidiaries Receive Financial Support from Government of Canada for Productivity Enhancement

SAINT-GEORGES, QUEBEC--(Marketwire - Oct. 9, 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, the Honourable Maxime Bernier, Minister of State (Small Business and Tourism), today announced that the firm Immobilisation 2010 Inc. has been granted financial assistance to strengthen its production capabilities.

"By supporting Immobilisation 2010, our government is recognizing the fundamental role that businesses play in creating jobs and economic growth in our regions," said Minister Bernier.

Immobilisation 2010 Inc. operates two subsidiaries: OSI Précision and OSI Machinerie. The first, which specializes in high-precision machining, manufactures products as a subcontractor for enterprises in the mining, forestry and hydraulics sectors, among others. OSI Machinerie, for its part, produces equipment for companies in the secondary wood processing sector, notably hardwood floor manufacturers.

Immobilisation 2010 Inc. intends to use this financial assistance from the government to purchase a horizontal milling machine and a numerical control tower, both of which will allow the enterprise to considerably bolster its production capacity. In addition to these new machining centres and their associated tools, two gantries will be installed to faciltate the handling of the machined parts. The company's project is expected to contribute to the diversification and strengthening of the region's economy.

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

This financial assistance has been granted in the form of a $400,000 repayable contribution 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 to counteract the effects of the forest crisis. Others include the Community Adjustment Fund, with its $1-billion budget over two years to mitigate the impact 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, with the Government of Canada introducing numerous measures to help them through the global economic crisis.

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