Canada Economic Development for Quebec Regions

Canada Economic Development for Quebec Regions

July 07, 2015 10:30 ET

Laforo Industrial Foundry Modernizes Equipment With Support From Government of Canada

Sainte-Claire company invests in automation to maintain its position as an industry leader in the manufacture of high-performance iron castings

SAINTE-CLAIRE, QUEBEC--(Marketwired - July 7, 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 Minister of Public Safety and Emergency Preparedness, today announced that Laforo Industrial Foundry Inc. has been granted financial assistance for the acquisition of leading-edge equipment that will help the firm raise its productivity.

This support has been awarded in the form of an $860,000 repayable financial contribution through CED's Quebec Economic Development Program.

Quick facts

  • The funding enabled Laforo Industrial Foundry to acquire automated systems for the pouring, transportation and treatment of molten metal.
  • Laforo Industrial Foundry specializes in the manufacture of iron castings for a wide array of sectors in the North American metallurgy industry. Among other things, the company designs and manufactures various automotive, agricultural, rail and power transmission components.
  • The firm's project is part of a long-term growth strategy aimed at automating its processes and improving its competitiveness through greater productivity.

Quotes

"By encouraging enterprises like Laforo Industrial Foundry to develop and invest in specialized equipment, our government is giving new impetus to its economic growth and job creation objectives."

The Honourable Steven Blaney, Member of Parliament for Lévis-Bellechasse and Minister of Public Safety and Emergency Preparedness

"Thanks to the financial support of CED, our company has been able to invest over $3 million in state-of-the-art foundry equipment that will allow us to satisfy the ever-growing demand from our North American customers. This will ensure that Laforo Industrial Foundry remains a reference in its field."

Yvon Fortier, President, Laforo Industrial Foundry

Related link

Laforo Industrial Foundry Website: http://www.laforo.com/home

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