Soucy Belgen Receives Financial Support from Government of Canada to Strengthen its Competitiveness

DRUMMONDVILLE, QUEBEC--(Marketwire - April 17, 2012) - The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that the foundry Soucy Belgen Inc. has been awarded financial assistance from the Government of Canada to implement an automated mold system and enhance its plant's melting capacity in order to bolster its competitiveness.

"With concrete action like this financial support, the Government of Canada is partnering in an innovative enterprise's efforts to improve its performance and increase its competitiveness. By building on these elements, we will ensure our economic growth," said Minister Lebel.

Soucy Belgen has adopted a new strategic direction aimed both at maximizing the productivity of its operations and at diversifying its manufacturing activities. It is looking to move into the large-scale parts niche, which will allow it to better meet the needs of its clients.

Soucy Belgen Inc. was founded in 1968 and acquired by the Soucy Group in 2010. Its seven companies each have their own expertise and specialized staff; together they offer unique solutions to complex problems.

Soucy Belgen manufactures grey iron, ductile iron and ADI casting products as well as certain other types of specialized cast iron. The firm is one of the only foundries to offer traditional green sand molding and the resin sand process under one roof. Its products are intended primarily for manufacturing wind turbines, rolling parts as well as track and railway system parts.

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This $4,600,000 in repayable funding has been awarded under Canada Economic Development's Business and Regional Growth programs.