Feds award $1.6M to five Montreal area manufacturers
Canada Economic Development for Quebec Regions is helping fund new equipment purchases and marketing solutions for several firms in the city's Saint-Laurent borough
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MONTREAL—The federal government has awarded $1,652,600 in funding to five manufacturers in Saint-Laurent, Que., a borough of Montreal.
Canada Economic Development for Quebec Regions (CED) says the funding it is providing—in the form of repayable contributions—will help the recipient businesses increase their production capacity or commercialize their products on other markets.
The projects undertaken by the companies are expected to create 14 jobs.
“By helping businesses invest in equipment and machinery that will make them more productive and by encouraging product commercialization and market development projects, the Government of Canada is standing by its commitment to stimulate expansion, innovation and exports. I am also very pleased to know that these projects will help create 14 high-quality jobs in the borough of Saint-Laurent,” said Navdeep Bains, minister of Innovation, Science and Economic Development.
Financial assistance is being provided to the following firms:
Identification Multi Solutions Inc.
$500,000 is being provided to this label manufacturer to help it acquire specialized digital equipment for printing shrink sleeve labels.
ERA Group Inc.
$400,000 is being provided to this plastic products manufacturer to fund the acquisition of new production equipment, including feeder, injection, inspection, counting and filler systems, and moulds.
$400,000 is being provided to this machine parts manufacturer to help it acquire a lathe and computer numerical control machining centre.
$241,000 is being provided to Ananda Devices, which manufactures silicone microdevices for the drug industry. The funding will go towards increasing domestic and international sales.
Colorbeam NorthAmerica Inc.
$111,600 is being provided to this LED lighting manufacturer to help it implement a commercialization strategy for the U.S. market. CED’s contribution will go towards trade shows, prospective visits, hiring an export specialist and other marketing needs.