Canada Economic Development for Quebec Regions

Canada Economic Development for Quebec Regions

January 09, 2015 10:00 ET

RAD Technologies Inc. Pursues Expansion

Government of Canada supports growth of Thetford Mines enterprise

THETFORD MINES, QUEBEC--(Marketwired - Jan. 9, 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 Christian Paradis, Member of Parliament for Mégantic-L'Érable and Minister of International Development and of La Francophonie, announces that RAD Technologies Inc. has been granted financial assistance to increase its productivity and develop new markets.

This support has been awarded in the form of an $800,000 repayable financial contribution through the Canadian Initiative for the Economic Diversification of Communities Reliant on Chrysotile.

Quick facts

  • The funding will enable the company to acquire manufacturing equipment for its Thetford Mines plant as well as to carry out commercialization activities with a view to developing new international markets.
  • Once completed, this project will help RAD Technologies improve its productivity, diversify its export markets and create 10 new jobs.
  • The Canadian Initiative for the Economic Diversification of Communities Reliant on Chrysotile aims to support projects linked with the economic diversification of the RCMs of Des Sources and Des Appalaches-where the town of Thetford Mines is located-that have the potential to create jobs in the short and long terms.

Quote

"Our government sees it as essential to support a growth enterprise like RAD Technologies Inc., whose project will lead to the creation of new jobs in the Thetford Mines region."

Christian Paradis, Member of Parliament for Mégantic-L'Érable and Minister of International Development and of La Francophonie

Related links

To learn more, visit RAD Technologies Inc.

News release on the launch of the Canadian Initiative for the Economic Diversification of Communities Reliant on Chrysotile

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