Canada Economic Development for Quebec Regions

Canada Economic Development for Quebec Regions

April 08, 2015 10:30 ET

Three Saguenay Businesses Receive Financial Support from CED

Projects to stimulate their growth and development through concrete actions that will create economic synergy for the whole region

CHICOUTIMI, QUEBEC--(Marketwired - April 8, 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 three enterprises in the City of Saguenay have been granted financial assistance for projects aimed at stimulating their growth and development.

This support has been awarded in the form of three repayable financial contributions totalling $1,071,318 through Canada Economic Development's Quebec Economic Development Program.

Quick facts

  • The recipients of this assistance from the Government of Canada are GRC Industries Inc., Les Viandes CDS and Maestria Solutions.
  • The three projects will generate an overall investment of $2,562,635.

Quote

"By supporting the development of these three Saguenay-Lac-Saint-Jean businesses, our government is showing once again that it is committed to investing in projects that help ensure economic growth."

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 details on these three projects.

Related link

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

Stay connected

Follow CED on Twitter @CanEconDev

BACKGROUNDER

Promoter Contribution - Investment - Project description
GRC Industries Inc. Repayable contribution of $700,000 on a total investment of $1,820,000

GRC Industries specializes in the high-precision transformation of sheet metal for various sectors, including energy transportation, industrial robotics, leading-edge electronics and manufacturing components. Producing custom metal boxes and components, the company uses nearly 40% aluminium in the manufacture of its products, making it part of the aluminium processing value chain that is of key importance in the region.

The financial assistance is aimed at helping the company improve its productivity in order to increase profitability and better meet customer needs in terms of quality and delivery deadlines. The project will include acquiring a laser cutting system, a bending press, a vacuum table for sanding residue, two spot welders, a compressor and computer equipment.

GRC Industries expects this project to result in the consolidation of 45 jobs and the creation of two new positions.

Company Website: http://www.industriesgrc.com/eng/index.html
Les Viandes CDS Inc. Repayable contribution of $214,188 on a total investment of $428,375

Les Viandes CDS operates a processing plant for meats and delicatessen products. The company's products, sold under the Roch and Roch Suprême brand names, mainly consist of cooked and smoked ham, bacon, pepperoni, salami, mock chicken and meat spread (cretons).

The Chicoutimi SME will use the financial assistance to improve its productivity by, among other things, expanding its plant, installing food panels and refrigeration units and implementing an integrated management system.

The project will enable the firm to consolidate its 50 some existing jobs and remain competitive in the food processing industry, an important sector for the SaguenayΓÇÆLac-Saint-Jean economy.

Company Website (in French): http://www.viandescds.com/
Maestria Solutions Repayable contribution of $157,130 on a total investment of $314,260

Maestria Solutions develops and sells information and communications technology (ICT) solutions, primarily for the manufacturing sector. These include, among other things, a current distribution measurement tool (MvA), vocal annunciation and communication systems (CICERO), and a software suite for the agri-food sector that includes components for on-the-road orders and billings as well as for traceability, inventory and labeling in manufacturing plants.

The financial assistance will serve for the commercialization of the company's products on international markets, particularly in the aluminium smelting, mining and agri-food sectors. The main target markets are Europe, Latin America and the Arab States of the Persian Gulf. The project will involve taking part in trade fairs, meeting with prospective clients and developing and implementing a business development structure and sales management system.

This will enable the firm to position itself on major external markets and gain recognition for the innovations that meet the targeted needs of its clientele.

Company Website: http://www.maestriasoft.com/

Summary

Total number of projects: 3
Total contribution from CED: $1,071,318
Total investment generated by these projects: $2,562,635

Contact Information