The Government of Canada Supports Innovation at Synapse Electronic Inc.

SHAWINIGAN, QUEBEC--(Marketwired - Jan. 20, 2016) - Canada Economic Development for Quebec Regions (CED)

The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announces that Synapse Electronic is obtaining financial support, primarily for automating the production of a new generation of thermostats.

The financial assistance announced today amounts to $450,000. It is awarded in the form of a repayable contribution under CED's Quebec Economic Development Program.

Quick facts

• Established in 2002, the company specializes in designing, manufacturing and assembling electronic and electro-mechanical controls, primarily thermostats.
• This Mauricie SME has roughly 65 employees, with nearly 10 of them assigned to R&D.
• The funding awarded will enable Synapse Electronic to purchase specialized equipment such as automated robots and welding cells, as well as project management software.
• This project, which aims to increase the company's productivity, is part of an expansion strategy that is intended to develop new markets in North America, increase its sales and create jobs.

Quotes

"At the Government of Canada, we are determined to support Canadian companies that focus on innovation. As a true economic driver, innovation is the key to success because it generates growth, which companies and communities benefit from. By supporting Synapse Electronic in its project, our government is showing its commitment to investing in the economic development of Quebec regions."

The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development

"Innovation is central to the growth strategy of Synapse Electronic, the jewel of Mauricie. By boosting its productivity and developing new markets, the company will generate impacts that will benefit the whole community and the entire region."

François-Philippe Champagne, MP of Saint-Maurice-Champlain and Parliamentary Secretary to the Minister of Finance

Related links

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

The company's web site: http://www.synapseelectronique.com/en/

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