DRUMMONDVILLE, Quebec, August 11, 2005 -- The Honourable Lucienne Robillard, Minister of Intergovernmental Affairs and President of the Queen's Privy Council for Canada, on behalf of the Honourable David L. Emerson, Minister of Industry, today announced an $8.9-million investment in the research and development of integrated traction and moulded rubber track technologies for military vehicles.
This Technology Partnerships Canada (TPC) investment is part of a $29.7-million project being undertaken by Soucy International Inc. of Drummondville, to develop technologies intended primarily for military vehicle applications.
"This announcement reinforces the Government of Canada's commitment to invest in Canadian ingenuity," said Minister Emerson. "With this project, Soucy is carving out a new and exciting niche in the defence industry and proving, once again, what innovative Canadian companies can do."
"Having access to the latest defence technologies is key to national safety and security," said Minister Robillard. "Today, a Canadian company is at the forefront of one of these technologies, helping ensure the country's aerospace and defence sector continues to thrive."
Through this investment, Soucy International Inc. will develop a new generation of high-performance, moulded rubber tracks for military vehicles, providing Soucy with a strong foothold in an emerging technology area. It will also allow Soucy to develop brand new integrated traction systems for various vehicles, for everything from military to industrial use. The systems would include both the track and the necessary fastening components, such as a "traction system adapter kit" for the replacement market.
"Soucy International is committed to remaining a leader in the manufacture of rubber caterpillar traction systems for military and industrial vehicles and this TPC investment will help us get there," said Gilles Soucy, CEO and founder of Soucy International Inc. "Rubber traction systems offer extensive benefits over metal track systems, including decreased cost and increased durability."
Soucy International Inc. is the lead proponent for the TPC project, however, four other Portefeuille Soucy Inc. subsidiaries, including Soucy Plastiques Inc., Soucy Rivalair Inc., Soucy Techno Inc., and Soucy Baron Inc., will also be involved in some development and manufacturing aspects of the project.
Technology Partnerships Canada (TPC) is a key instrument for advancing research and development toward commercialization. Working in partnership with innovative companies across Canada, TPC shares in the cost of private sector technology projects in aerospace and defence, in environmental technologies, and in enabling technologies such as information and communications technologies, and biotechnology.
For more information, please contact:
Christiane Fox
Office of the Honourable David L. Emerson
Minister of Industry
(613) 995-9001
Media Relations
Industry Canada
(613) 943-2502
The news release, backgrounder and other documents are available on the Technology Partnerships Canada website at http://www.tpc-ptc.ic.gc.ca.
Backgrounder
Soucy International Inc.'s
Integrated Traction System and Family of Moulded Rubber Tracks Project
Soucy International Inc. will receive an investment of $8.9 million from Technology Partnerships Canada (TPC). This investment is part of a $29.7-million project.
Soucy's objective for the proposed project is to develop an industry-leading technology for the design, development and manufacture of an integrated traction and moulded rubber track system intended primarily for military vehicle applications.
The tracks manufactured by Soucy cost less than metal tracks and offer many benefits -- including increased life and durability, reduced noise and vibrations, and lower replacement and maintenance costs -- while still meeting stringent military standards.
What is fundamental to Soucy's approach is its overall strategy. The company will develop entire traction systems rather than producing the track alone as a replacement for existing metal tracks. The development of a complete and integrated traction subsystem will enable Soucy to modify all of the components to achieve its performance objectives and access a larger potential market. By supplying a complete replacement system, Soucy will be able to control the quality of integration of the traction system and avoid the stumbling blocks of incompatibility that are too common with this type of modification.
Soucy International Inc. manufactures and distributes cutting-edge vehicle parts made of metal, rubber, plastic and composite materials for recreational, industrial/agricultural and military vehicles. Soucy International Inc. is one of seven manufacturing subsidiaries of Portefeuille Soucy Inc. The consolidated workforce of PSI and its subsidiary companies (located in Drummondville, Sherbrooke and Saint-Jérôme, Québec) employ nearly 940 workers.
