Canada Economic Development for Quebec Regions

Canada Economic Development for Quebec Regions

March 04, 2015 14:30 ET

New Equipment, New Applications, New Products to Bring to Market: Four Companies Aiming High

CED invests to support growth enterprises in the Québec region

QUÉBEC CITY, QUEBEC--(Marketwired - March 4, 2015) - Canada Economic Development for Quebec Regions (CED)

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, today announced that four creative companies from the Québec region have been granted financial support to improve their productivity and innovative capabilities as well as for expansion and commercialization projects.

This assistance is being awarded in the form of four repayable contributions totalling $1,800,000 through CED's Quebec Economic Development Program.

Quick facts

  • The four recipients of this financial assistance from the Government of Canada are Squeeze Studio Animation Inc., APN Inc., Eddyfi NDT Inc. and Multi-Action Communication Inc.
  • The contributions granted by the Government of Canada will serve for the acquisition of specialty equipment and software and for the commercialization of new products on international markets.
  • In addition to ensuring the growth of these firms, the projects are expected to result in the creation of more than 70 new full-time jobs.

Quote

"Our government is helping Québec enterprises grow in order to create more jobs. Investments like the ones we are making in Squeeze Studio Animation, APN, Eddyfi NDT and Multi-Action Communication promote the productivity of Canadian businesses and competitiveness of our national economy."

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 accompanying backgrounder for further details on these four projects.

Related link

To learn more about the QEDP: http://www.dec-ced.gc.ca/eng/programs/qedp/index.html

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Follow CED on Twitter @CanEconDev

BACKGROUNDER

New equipment, new applications, new products to bring to market: four companies aiming high

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, today announced that four creative companies from the Québec region have been granted financial support to improve their productivity and innovative capabilities as well as for expansion and commercialization projects.

Promoter Contribution - Investment - Project description
Squeeze Studio Animation Inc. Repayable contribution of $200,000 on a total investment of $400,000 Established in 2011, Squeeze Studio Animation Inc. provides state-of-the-art 3D animation services through its team of 36 talented young digital arts and technology specialists. To grow in a highly-competitive market, the Studio is looking to improve its production capacity and productivity in order to collaborate with world-class partners like Disney, Marvel, Microsoft and Samsung. To carry out this project, the firm intends to hire a key resource and acquire speciality computer equipment and software. It also plans to conduct commercialization activities on international markets. The project is expected to lead to the creation of some 10 new jobs. For more information, visit www.squeezestudio.com/
APN Inc. Repayable contribution of $600,000 on a total investment of $1,530,000 Founded in 1970, APN Inc. operates a machining workshop for high-precision parts in the Québec Metro High Tech Park. These parts are mainly for the aeronautics, military equipment and high-technology industries. Exporting more than 40% of its production, the company employs some 60 people in the Québec area and is part of the supply chain of major contract givers. The aim of the project is to raise the company's productivity by setting up a new automated production cell, which involves the acquisition and installation of machining and measuring equipment and associated tools. APN expects this project to result in the creation of more than 20 new jobs by 2016. For more information, visit http://www.apnca.com/en/.
Eddyfi NDT Inc. Repayable contribution of $500,000 on a total investment of $1,900,000 Established in 2009, Eddyfi NDT Inc. designs, manufactures and sells leading-edge solutions for the non-destructive testing (NDT) of critical parts and equipment. Producing the industry's best performing test instruments, probes and inspection software, the company develops products that can detect minute details on metal surfaces, such as cracks and pits due to corrosion, and can even measure the loss of wall thickness. The enterprise's primary product, which enjoys global reach, is Ectane®, a test instrument sold in more than 50 countries around the world. About 95% of the product's overall sales are for export. The aim of this project is to support the company's efforts to commercialize new products on international markets, improve its innovative capabilities and expand. To achieve this, Eddyfi NDT intends to hire innovation and marketing specialists, launch and promote its new products, take part in commercial fairs in untapped markets and set up a business office abroad. This project will help diversify the entrepreneurial fabric of the region and is expected to lead to the creation of some 20 new jobs in Canada. For more information, visit http://www.eddyfi.com/.
Multi-Action Communication Inc. Repayable contribution of $500,000 on a total investment of $2,090,000 Founded in 1993, Multi-Action Communication Inc. specializes in the manufacture and printing of a wide range of high-quality self-adhesive product labels, mainly for the agrifood, industrial and office supplies markets. The company distinguishes itself by virtue of its innovative gluing processes, thinner unbleached backing, two-sided labels without backing and printing processes on the cutting edge of technology. This productivity enhancement project involves the acquisition of a latest-generation flexographic printing press. For more information, visit http://www.multiaction.ca/en/.

Summary

Total number of projects: 4

Total contribution from CED: $1,800,000

Total investment generated by these projects: $5,920,000

Contact Information