Feds give $2M loan to Venezuelan casting firm to start Quebec plant
by CanadianManufacturing.com Staff
Venezuelan manufacturer of aluminum and alloy rods Sural launched its Quebec subsidiary in 2012.
Victoriaville, Que—Aluminum casting firm Sural Québec Inc. has been granted $2 million in Federal financial assistance to launch operation of its aluminum rod manufacturing plant in Quebec.
“By supporting the start-up of Sural Québec Inc., the Government of Canada is showing that it is committed to stimulating economic growth and job creation,” said Minister of the Economic Development Agency of Canada for the Regions of Quebec Denis Lebel.
Sural, a Venezuelan multinational and a leading global manufacturer of aluminum and alloy rods launched its Quebec subsidiary in 2012. The corporation currently owns factories in South America and Italy, as well as the Intral plant in Princeville, Que.
Sural Québec Inc. is building an additional plant with a continuous casting line to make aluminum rods.
The project consists of acquiring and installing a casting line and kilns as well as equipment for the purification of molten metal, the cooling and moulding of aluminum, and the packaging and transportation of finished products.
The financial support from Canada Economic Development will enable Sural Québec Inc.to acquire the equipment needed for the manufacture and international sale of these aluminum rods. Teh Harper Government estimates 50 jobs will be created at the new plant and another 20 at the affiliated company Intral.
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