Government of Canada lends support to two subsidiaries of the Soucy Group

News Release

Financial assistance from Canada Economic Development for Quebec Regions allows Soucy International Inc. of Drummondville and Soucy Techno Inc. of Sherbrooke to move forward with major investments in new product development and productivity enhancement

April 14, 2015 – Drummondville, Quebec - Canada Economic Development for Quebec Regions (CED)

The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, today announced that two subsidiaries of the Soucy Group— Soucy International Inc. and Soucy Techno Inc.—have been granted financial assistance for projects aimed at stimulating new product development and raising productivity.

This support has been awarded in the form of two repayable financial contributions totalling $9 million through Canada Economic Development’s Quebec Economic Development Program.

Quick facts

Soucy International Inc. will thus receive $7 million in assistance to design and manufacture production equipment for the development of new products for the agricultural and defence sectors.
Soucy Techno Inc. will use the $2 million contribution from CED for the expansion of its factory and the acquisition and manufacture of equipment to increase its production capacity and raise productivity.
These projects will generate a total investment of $107,800,000.

Quotes

“By investing in the development of new products and equipment and in the improvement of productivity at Soucy Techno Inc. and Soucy International Inc., our government is once again demonstrating its determination to take the necessary measures to boost the growth potential of our economy.”
Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec

“Today’s announcement signals the launch of a major investment plan by the Soucy Group for the coming years that will ensure new product development and higher production at our Soucy Techno and Soucy International subsidiaries.”
Eric Côté, President and Chief Operating Officer, Soucy Holding Inc.

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Sources:

Media Relations
Canada Economic Development for
Quebec Regions
Tel.: 514-283-8818
E-mail: media@dec-ced.gc.ca

Vincent Rabault
Press Secretary
Office of the Honourable Denis Lebel
Canada Economic Development for
Quebec Regions
Tel.: 514-496-1282
E-mail: vincent.rabault@miga-maig.gc.ca

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Government of Canada lends support to two subsidiaries of the Soucy Group

News Release

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