Montréal, Quebec, June 10, 2010 – The Honourable Denis Lebel, Minister of State for Canada Economic Development, announced that Marquez Transtech Ltd. has been granted $494,250 in repayable funding through the Business and Regional Growth program to set up a new assembly line and increase its productivity.
"Marquez Transtech will be adopting new technologies and innovative manufacturing processes in order to pursue its growth and become more competitive. This strategic decision is critical for this highly-innovative company as it seeks to capitalize on the dynamism of the aerospace industry, satisfy the requirements of prime contractors like Boeing and Bombardier and land new contracts. Completion of this project will necessitate an overall investment of $1,506,000 and result in the creation of 25 new jobs and the preservation of six others in the Montréal area," noted the Minister of State.
Marquez Transtech specializes in the manufacture of plastic and composite parts for use primarily in the aeronautics sector. By increasing its productivity, the firm will be able to improve its competitive standing in the industry and maintain its position as a leader in a growing market.
Canada's Economic Action Plan helps Canadian businesses create jobs, modernize their operations and better compete globally through the elimination of tariffs on a range of machinery and equipment, and through temporary measures to accelerate the capital cost allowance on manufacturing or processing machinery and equipment. Since the implementation of the tariff relief measure, businesses have benefited from over $2 billion worth of duty-free machinery and equipment imports on which they would have otherwise been required to pay duty.
For more on Canada's Economic Action Plan , visit www.actionplan.gc.ca .
- 30 -
Sources:
Marie-Claude Lemire
Communications
Canada Economic Development
Tel.: 514-283-2199
E-mail: marie-claude.lemire@dec-ced.gc.ca
Ève Cardinal
Special Assistant, Communications
Office of the Honourable Denis Lebel
Canada Economic Development
Tel.: 819-997-3319
E-mail: eve.cardinal@dec-ced.gc.ca
