Groupe Aluspek in Waterloo will be able to increase its productivity and performance

10/06/17 10:30 AM EDT

Groupe Aluspek in Waterloo will be able to increase its productivity and performance

Canada NewsWire

Government of Canada awards more than $86,000 in financial assistance to Groupe Aluspek in the Haute-Yamaska RCM

WATERLOO, QC, Oct. 6, 2017 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

By investing in the production capacity of enterprises, the Government of Canada is standing by its commitments and helping businesses expand, innovate and export their products to create high-quality jobs and ensure the prosperity of our national and regional economies.

Pierre Breton, Member of Parliament for Shefford, acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, announced that Groupe Aluspek Inc. has been granted $86,500 in financial assistance, in the form of a repayable contribution, to improve the business's productivity and performance.

Founded in 1995 under the name Produits Aluspek Inc., Groupe Aluspek specializes in the design, production and installation of aluminum and glass railings. The funding awarded through CED's Quebec Economic Development Program (QEDP) will help the business acquire new leading-edge equipment (CNC electric drills, a digital mitre saw, a 3D scanner, and so on).

The funding will help the business successfully deliver two major contracts recently obtained from the United States and Ontario, sign new contracts and contribute to the increased growth and outreach of Groupe Aluspek.

Quotes
"The Government of Canada helps businesses and sectors of the Canadian economy by making investments that encourage their productivity and support their competitiveness. We are proud to invest in a young business like Groupe Aluspek, whose partnership aligns closely with the measures we have taken to meet our commitment. The economies of the Shefford electoral district, Estrie and other Quebec regions will benefit from this investment."

Pierre Breton, Member of Parliament for Shefford

"As the Minister of Innovation, Science and Economic Development, my goal is to help enterprises grow, innovate and export so that they can create high-quality jobs and generate wealth for Canadians. That is why we clearly support dynamic businesses like Groupe Aluspek in the Haute-Yamaska RCM."

The Honourable Navdeep Bains, Minister responsible for CED

"Groupe Aluspek Inc. is very proud to receive funding from Canada Economic Development to support its export efforts. This loan will help us acquire manufacturing equipment that will improve our productivity and production capacity in aluminum and glass railings. Our new equipment will help us better serve mid- and high-rise residential building projects in Canada and the United States."

Pierre Cloutier, President, Groupe Aluspek Inc.

Quick facts

  • CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
  • For more information on CED's key directions until 2021, consult Strategic Plan 2021 or visit www.dec-ced.gc.ca.

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SOURCE Canada Economic Development for Quebec Regions

View original content: http://www.newswire.ca/en/releases/archive/October2017/06/c3152.html