Hamrforge, Agrimetal, Beaulieu Canada Company, and MR Industries receive a total of $1,540,000 in assistance from the Government of Canada
May 22, 2019 - Acton Vale, Quebec - Canada Economic Development for Quebec Regions (CED)
Hamrforge Inc., Agrimetal Inc., Beaulieu Canada Company Ltd. and MR Industries Inc. will be better able to continue growing by receiving repayable contributions totalling $1,540,000 from Canada Economic Development for Quebec Regions.
With this financial assistance, the start-up company Hamrforge will be able to grow and boost its productivity as well as market its products, while Agrimetal will go ahead with purchasing digital equipment and automating the production phases. The contribution to Beaulieu Canada Company will enable this SME to support its growth and its expansion into international markets, while MR Industries will be able to purchase and install advanced-technology automated production equipment.
Rémi Massé, Member of Parliament for Avignon-La Mitis-Matane-Matapédia and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development, announced that funding today. The funding awarded by the Government of Canada will enable the recipient companies to achieve the objectives that they have set for themselves. Carrying out their respective projects will generate total investments of over $6 million.
The Government of Canada is committed to establishing close partnerships with Quebec companies in order to support their efforts to innovate and increase their productivity and competitiveness, while contributing to the economic vitality of the regions, job creation and a better quality of life for citizens.
"I am very pleased about this support from the Government of Canada, which is choosing to focus on the innovation capacity and commitment to progress of these companies that are setting themselves apart in constantly changing markets. Their drive, boldness and innovative spirit are contributing to the economic vitality of the Acton Vale region."
Rémi Massé, Member of Parliament for Avignon-La Mitis-Matane-Matapédia and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development
"Our government is empowering Canadian companies to become more competitive and to prosper in the global economy. The investment in Hamrforge, Agrimetal, Beaulieu Canada Company and MR Industries announced today aligns with Canada's competitive advantages through the improved productivity and expansion projects of these companies, and will stimulate economic growth. It will also create good jobs for middle-class Canadians."
The Honourable Navdeep Bains, Minister responsible for CED
Quick facts
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Today's announcement is made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which comprises 17 federal departments and agencies, including CED and the other five regional development agencies.
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The financial assistance for Agrimetal and to Beaulieu Canada Company was awarded under CED's Quebec Economic Development Program, while the contributions provided to Hamrforge and to MR Industries are from the Regional Economic Growth through Innovation (REGI) program.
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The REGI program is intended for entrepreneurs who focus on innovation for growing their company and making it more competitive, and for regional economic players that help create an entrepreneurial environment conducive to innovation and to growth for all, in all regions.
