Trois-Rivières business receives $660,000 in financial assistance from
CED.
TROIS-RIVIÈRES, QC,
June 28,
2024 /CNW/ - Canada Economic Development
for Quebec Regions (CED)
Supporting manufacturing businesses contributes to economic
development in Quebec's regions.
That is why the Honourable Soraya Martinez Ferrada, Minister
of Tourism and Minister responsible for CED, today announced a
repayable contribution of $660,000
for Groupe Support Plus – Labmétal (2017) Inc. This CED support
will enable the business to acquire and install new production
equipment, including a laser cutting system, a cutting robot, a
folding press, and a bending machine, which will help this
innovative, dynamic SME to grow.
Groupe Support Plus – Labmétal specializes in
the manufacture of industrial hardware products
and industrial pipe supports. In 2011,
the business merged with Labmétal Inc.,
which focuses on the production of railings, walkways,
grading rings, mechanically welded parts and various
fabricated metals. In May 2023, the SME
was acquired by Denys Duchesne and his group of
investors. The purchase of new production equipment
will enable the Trois‑Rivières business to increase
its production capacity and improve
its productivity.
The Government of Canada
recognizes and supports businesses and organizations that are
a source of pride in their communities. Quebec's economic growth relies on
organizations with strong roots in the regional economy;
they are key assets in building a sustainable,
inclusive economy.
Quotes
"The manufacturing industry is a pillar of our economy.
That is why our government has committed to invest
to ensure our SMEs remain competitive and innovative.
Thanks to CED's support, Groupe Support Plus
will be able to increase its capacity
to produce mechanically welded steel, aluminum, and
stainless-steel parts. The entire team can be proud of
this project."
The Honourable Soraya Martinez Ferrada,
Minister of Tourism and
Minister responsible for CED
"We thank CED for believing in us. With its support
and by focusing on innovation through the purchase
of new equipment with all the latest technology,
Groupe Support Plus – Labmétal will become
more competitive and grow."
Denys Duchesne, President,
Groupe Support Plus
– Labmétal (2017) Inc.
Quick facts
- The funds have been granted under CED's Regional Economic
Growth through Innovation program. This program targets
entrepreneurs leveraging innovation to grow their businesses and
enhance their competitiveness, as well as regional economic
stakeholders helping to create an entrepreneurial environment
conducive to innovation and growth for all, across all
regions.
- In Quebec, SMEs account for
99.7% of the province's businesses and 50% of its GDP.
- CED is the key federal partner in Quebec's regional economic development. With
its 12 regional business offices, CED accompanies businesses,
supporting organizations and all regions across Quebec into tomorrow's economy.
Associated links
- Groupe Support Plus – Labmétal (2017) Inc.
- CED funding initiatives and programs
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SOURCE Canada Economic Development for Quebec Regions