MONTREAL, QUEBEC--(Marketwired - June 21, 2016) - Canada Economic Development for Quebec Regions (CED)
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, announces the awarding of $1,100,000 in financial assistance to Alta Precision for the acquisition of cutting-edge equipment as part of the expansion of its plant in Montreal.
Businesses need adequate resources to manufacture and commercialize their innovative products. The Government of Canada is proud to invest in the projects of companies like Alta Precision, a global benchmark in the aeronautics sector.
Founded in 1979, Alta Precision is an innovative SME that specializes in manufacturing critical metal components (pistons, cylinders, clamps, arms and axles) of landing gear for civil and military aircraft. This repayable contribution, awarded as part of CED's Quebec Economic Development Program (QEDP), will help Alta Precision remain competitive in the global market and make Greater Montreal a world leader in the aeronautics sector.
CED is one of six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
- This major project follows a global bidding process won by Alta Precision for a large-scale, 20-year contract with Brazilian aircraft manufacturer Embraer.
- Montreal is the world's third leading city in the aerospace industry, following Seattle, U.S. and Toulouse, France.
"As Minister of Innovation, Science and Economic Development, my goal is to help businesses grow, innovate and export so that they can create good quality jobs and generate wealth for Canadians. That is why we are supporting regional economic development partners like Alta Precision."
The Honourable Navdeep Bains, Minister responsible for CED
For more information on the QEDP, visit: http://www.dec-ced.gc.ca/eng/programs/qedp/index.html Alta Precision website: http://www.altaprecision.com/
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