Increasing Productivity $12M In Investments To Support Soucy Techno's Growth
Sherbrooke QC , January 11, 2023 /CNW Telbec/ - Economic Development Canada (CED) for Quebec Regions
The governments of Canada and Quebec and Investissement Quebec provide Soucy Techno inc. financial support of $12 million. With this support, the company will be able to purchase new specialized equipment, including a new rubber blending line; expansion of an existing facility; And increases the power of his electric room.
Hon. Marie-Claude Bibaud MP for Compton-Stansted and Secretary of Agriculture and Agri-Food on behalf of MP for Broome, Mississippi, Minister for Sport and Minister in charge of Economic Development of Canada (CED) in the Territories of Quebec, Hon. Pascal Saint-Onge together made a statement with Richmond MP André Pachan on behalf of Christopher Skate, Minister for the Economy, Minister for Combating Racism and Minister for the Laval Region. Today
The goal of this $15 million investment is to increase the production capacity of a company that specializes in the development of rubber compounds, especially for the production of rails, hoses, seals, pipe plugs and consumables. piece of resistance. To meet demand, especially in the agricultural sector.
As part of this project, the Government of Canada is making a $2 million reimbursable contribution to the Province's Economic Growth Program through the CED Innovation Program. In turn, the Government of Quebec provides a $5 million loan through the ESSOR program, which is managed by Investissement Québec on behalf of the government. A matching loan is also being provided by the Investissement Québec capital fund as part of the Productivité innovation initiative.
quotes:
“With the support of CED, Soucy will continue to grow! In addition to expanding its facilities, this leading raw materials producer will acquire a new rubber production line, which will allow it to increase its market share, especially in the agricultural sector.”
