Backgrounder: Substantial financial support granted to two Lachute companies and an organization supporting anglophone entrepreneurs in the Laurentides region
Backgrounder
February 22, 2018 – Lachute, Quebec – Canada Economic Development for Quebec Regions (CED)
Regardless of the size of their projects, entrepreneurs help communities to strategically diversify their economies and develop regional competitive advantages. They are also a sure source of employment in communities across Quebec. Supporting community transition and diversification is a priority for the Government of Canada.
Acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, Stéphane Lauzon, Member of Parliament for Argenteuil–La Petite-Nation and Parliamentary Secretary for Sport and Persons with Disabilities, announced that Brownsburg Electronik Inc. and Cristini North America, together with the Fonds d’Emprunt Communautaire Féminin (FECF), also known as Fonds d’emprunt des Laurentides, will share a total of $744,000 in financial assistance.
The funding is provided under the Quebec Economic Development Program and the Official Languages Economic Development Initiative (EDI).
| Promoter | Contribution - Investments - Project description |
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Summary
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Fonds d’Emprunt Communautaire Féminin (also known as the Fonds d’emprunt des Laurentides) |
Non-repayable contribution of $204,000 out of a total investment of $960,904 This three-year project offers business start-up support for the anglophone community in the Laurentides region. Activities are personalized according to needs and pathway of future entrepreneurs and include training, microcredit, networking, canvassing and promotion activities. Funding provided by CED covers the salaries of three employees and promotion of the organization’s services. Founded 16 years ago, the Fonds d'Emprunt Communautaire Féminin (FECF) is a non-profit organization. Its mission is to develop entrepreneurship and financial autonomy for entrepreneurs in the Laurentides region. Its services are bilingual and its clientele consists mainly of women aged 36 to 49 years. The organization has five employees. |
Repayable contribution of $400,000 out of a total investment of $1,480,560 The project aims to increase the company's productivity and production capacity. The contribution will be used for the expansion and development of the plant and the acquisition of production equipment such as a heating and ventilation control system, a boiler, a cooling tower and elongation rollers. The Cristini Group is a world leader in the manufacture of textiles used by pulp and paper mills. The Canadian subsidiary, Cristini North America Inc., manufactures three main innovative, high value-added products used by paper mills in the papermaking cycle: spiral webs for drying the paper, support lines used to wind paper in a paper machine and corrugated belts for the production of cardboard boxes. The company employs 27 people and plans to create two additional jobs. |
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Repayable contribution of $140,000 out of a total investment of $450,000 The project aims to expand the company’s market share in the United States and to increase its production capacity by automating manufacturing processes with new equipment. The contribution will be used to implement the marketing strategy and install production equipment, in particular, winders with automatic tensioners, semi-automatic welding equipment and a collaborative robot. Having merged in 2016 following a succession project, the company specializes in the design and manufacture of electrical and electronic transformers and inductors. These parts are used in manufacturing processes involving industrial and telecommunications equipment as well as in the production of products that use electricity, such as light fixtures, audio and medical systems, transportation, and heating and refrigeration systems. The company has 84 employees and will create 11 jobs through this project. |
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