Financial support to help five Saguenay-Lac-Saint-Jean businesses grow

Proponent

Contribution ? Investments ? Project description

Technosoude
(website in French only)

Repayable contribution of $250,000 out of a total investment of $500,000

CED's contribution helped Technosoude acquire higher-performance equipment, including a plasma cutting system and specialized software, helping the business improve its productivity and expand.

Founded in 1979, Technosoude specializes in the manufacture and installation of steel structures and metalwork, and in industrial mechanics, piping and thermite welding. Thanks to the diversification of its activities and flexible project implementation, the business can meet market demand and the specific requirements of a broad customer base consisting mostly of regional enterprises and prime contractors.

 Dynamic Concept

Two repayable contributions totalling $217,500 out of total investments of $505,000

The first project consisted in improving the company's productivity. More specifically, the activities funded by CED included expanding the building to install an assembly shop for electrical control systems and purchasing specialized equipment and software.

The second project involved growing the business and improving its productivity and innovation capacity. Dynamic Concept set up an aluminum casting experimentation facility and conducted a needs assessment study for the implementation of an integrated management system. CED's assistance mainly covered building expansion costs and equipment purchases.

Dynamic Concept is an original equipment manufacturer in the aluminum sector. Its customers include aluminum smelters and primary aluminum processing plants. The company is part of the global aluminum value chain, with approximately 60% of its sales in international markets. The two projects are expected to create nine jobs.

 Sublimart Inc.

Repayable contribution of $148,225 out of a total investment of $296,450

The goal of Sublimart's project was to increase its production capacity and productivity. More specifically, the business was able to acquire equipment and retrofit its building to house it. CED's assistance covers the entire project, which is expected to create two jobs.

Sublimart specializes in printing on fabric, which is then used in the manufacture of promotional materials and other products. Its customer base is made up of designers and businesses that specialize in display booths and large-format printing.

Sublimart sets itself apart through the use of thermal transfer printing, providing its customers with eco-friendly, environmentally responsible fabric visuals. It sells its products in Quebec, Ontario, Saskatchewan and New Brunswick.

Imago Structures Inc.

Repayable contribution of $70,000 out of a total investment of $140,000

The project is divided into two components: productivity improvement, and product commercialization and exports. CED's funding covers the expansion of the manufacturing workshop, the acquisition of new production equipment and the development of communication tools. The project has created four jobs.

Founded in 2011, Imago Structures manufactures all-season turnkey shelters such as free-standing tents, prospector tents and yurts?its flagship product?that can withstand northern climates thanks to the latest-generation textiles and insulation materials used in the manufacturing process.

Distillerie du Fjord

Repayable contribution of $37,500 out of a total investment of $166,850

The project involved the start-up a micro-distillery that produces spirits reflecting the northern boreal forest. CED's contribution covered installation costs, the acquisition of strategic equipment and leasehold improvements. The project created three jobs.

Distillerie du Fjord Inc. is a family start-up incorporated in June 2016 by three entrepreneurs. It plans to produce and commercialize new premium craft spirits. It entered the market with an exceptional gin and plans to develop other spirits over the next year to meet current demand in Quebec. Its products are currently available at the Société des alcools du Québec, but the company also plans to commercialize them in international markets.

To ensure the distinctive character of its products, both in terms of national competition and export-related recognition, Distillerie du Fjord plans to get AgroBoréal certification.

Summary

• Number of projects: 6
• Number of jobs created: 18
• CED's contributions: $723,225
• Total investments generated by these projects: $1,608,300