Backgrounder: Details on the contributions granted to three Sorel-Tracy companies

March 7, 2019 – Sorel-Tracy, Quebec – Canada Economic Development for Quebec Regions (CED)

Fabspec, Technolaser and Aciers Richelieu are dynamic businesses. In order to build on this momentum and ensure their growth, they will benefit from a total of almost $773,000 in repayable contributions from Canada Economic Development for Quebec Regions.

The funding was announced today by the Honourable François-Philippe Champagne, Minister of Infrastructure and Communities. The financial assistance granted by the Government of Canada through the Quebec Economic Development Program will allow the recipient businesses to achieve their established objectives. Their respective projects will generate $2.2 million in total spending and will result in the creation of 21 jobs in the Sorel-Tracy region.

Fabspec Inc.

Repayable contribution of $300,000 out of a total investment of $746,255

The goal of the project is to increase the company’s productivity and production capacity. The contribution will be used to acquire and install new automated production equipment, including automatic welding machines, dynamic turning rollers and a plasma cutting table, and to implement new management software.

Founded in 1974, Fabspec Inc. specializes in the fabrication of large and complex mechanically welded parts. It provides mechanical, welding, machining, finishing and technical consulting services for all types of large products whose materials are steel- or alloy-based.

The company has 92 employees and the project will result in the creation of 10 jobs.

Technolaser Inc.^{(website in French)}

Repayable contribution of $272,979 out of a total investment of $909,930

The project aims to help the company expand and enhance its productivity through the acquisition of automated production equipment, including a fibre-optic laser cutting machine, a deburring machine and a packaging machine.

Founded in 1999 as a worker co-operative, the company was acquired in 2013 by one of the founding members, Alain Plourde, and has since been known as Technolaser Inc. it operates in the laser cutting sector, and also provides design, bending, tapping, mechanical welding, rolling and assembly services for various types of materials, including steel, stainless steel, aluminum, as well as wood, plastic and rubber.

The company has 14 employees and will create 3 jobs as a result of this project.

Aciers Richelieu Inc.

Repayable contribution of $200,000 out of a total investment of $550,000

The goal of the project is to help the company expand and enhance its productivity. The contribution will be used to acquire and install new automated production equipment, including a plasma cutting table with a 5-axis head, and to upgrade the CNC band saw.

Founded in 1980, Aciers Richelieu Inc. specializes in the fabrication of complex mechanical parts and equipment for the heavy industry sector. It provides turnkey solutions for its clients, ranging from the drafting of plans to the installation and maintenance of large equipment such as tanks, hoppers, cyclones, reactors, etc.

The company employs 88 people and plans to create 8 additional jobs.

Summary

• Number of projects:  3
• Number of jobs created:  21
• CED’s contributions: $772,979
• Total investment generated by these projects: $2,206,185