July 25, 2019 - Surrey, British Columbia - Western Economic Diversification Canada
Canada's steel and aluminum sector is an important contributor to our economy and to our manufacturing supply chains, providing thousands of Canadians with good middle-class jobs across the country.
That is why the Government of Canada is delivering on the Steel and Aluminum Initiative, announced in March 2019, which will help businesses heavily dependent on steel and/or aluminum to grow and modernize.
Today, John Aldag, Member of Parliament for Cloverdale - Langley City, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada (WD), announced over $1.6 million in funding for two Lower Mainland companies in the steel and aluminum sector.
With $663,921 in funding, Menzies Metal Products will be able to purchase two pieces of equipment, install a resource system, and adopt lean management practices. This will allow the company to manufacture products on demand and expand its capacity to access new domestic and international markets.
Another $1 million will help Reliable Tube Inc. upgrade its manufacturing capacity with a tube laser-cutting machine. This will allow the company to expand market opportunities by offering more complex processing through ready-for-use products.
Quotes
"Our government supports the hard-working steel and aluminum workers and companies that are important to regional economies across Canada. Our investments to support small- and medium-sized producers and users of steel and aluminum will help these businesses innovate to drive productivity, scale up, and expand into new markets to create good middle-class jobs."
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"The small and medium-sized businesses in our steel and aluminum industries are important contributors to the economic vitality of communities across the country. Small and medium-sized businesses are the backbone of our economy, and by investing in their success, we are investing in the success of all Canadians."
- The Honourable Mary Ng, Minister of Small Business and Export Promotion
"Menzies Metal Products and Reliable Tube are part of the backbone of our local economy and have been providing good, middle-class jobs to local residents in Surrey and Langley for over 30 years. By investing in businesses that want to attain new levels of growth, our government is laying the foundation for continued economic prosperity and jobs in Canadian communities.
- John Aldag, Member of Parliament for Cloverdale - Langley City
"This funding will enable us to accelerate our growth plans, increase our presence in new markets and provide stable long-term employment for new and existing employees."
- Matt Lewis, President, Menzies Metal Products
"After 30 years in business, Reliable Tube recognized we had a duty to our employees and customers to expand our capabilities in order to remain a strong and stable employer/supplier. By partnering with the Western Economic Diversification Canada, we are able to accelerate our growth plans and offer a progressive and forward thinking approach to steel processing for many years to come."
- Mike Quinn, General Manager, Reliable Tube
Quick facts
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Delivered by Regional Development Agencies, the Regional Economic Growth through Innovation (REGI) Steel and Aluminum Initiative provides SME steel and aluminum manufacturers and users with non-repayable contributions for projects to enhance productivity, increase competitiveness by adopting new innovative technologies, and create more highly-skilled jobs. In Western Canada, this funding is delivered through WD.
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Regional Development Agencies are among Canada's four flagship platforms supporting innovation, along with the Industrial Research Assistance Program, the Strategic Innovation Fund and the Canadian Trade Commissioner Service.
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The REGI program builds on the objectives of the Innovation and Skills Plan by providing regionally tailored, nationally consistent support for business productivity and scale-up and by helping enhance regional technology clusters and innovation ecosystems.
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In 2018, Canada's steel and aluminum industry employed more than 33,500 Canadians and contributed $8.9 billion to Canada's gross domestic product.
