Subjects: ECO, CFG
Government of Canada invests in Diacarb Tools' competitiveness
Saint-Laurent business receives $450,000 in financial assistance from CED.
SAINT-LAURENT, QC, Feb. 19, 2024 /CNW/ - Canada Economic Development for Quebec Regions (CED)
Supporting the digitization of manufacturing businesses contributes to economic development in Quebec's regions. That is why Annie Koutrakis, Member of Parliament for Vimy and Parliamentary Secretary to the Minister of Tourism and Minister responsible for CED, accompanied by Emmanuella Lambropoulos, Member of Parliament for Saint-Laurent, today announced a repayable contribution of $450,000 for Diacarb Tools. This CED support will enable the business to improve its productivity and competitiveness.
Diacarb specializes in the mass machining and manufacturing of small components that are complex and precise. For nearly 45 years, the business has stood out in many sectors of activity, such as optics, photonics, telecommunications, robotics, life sciences, transportation, and defence. In September 2023, the business was acquired by Marie-Eve Rachita and Louis Tremblay-Noël, with support from the Centre de transfert d'entreprise du Québec (CTEQ). The funding from CED will enable it to acquire production equipment such as a Swiss digital control tower.
The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. Quebec's economic recovery relies on organizations with strong roots in the regional economy; they represent key assets in building a sustainable, inclusive economy.
"This announcement is proof once again of our government's commitment to manufacturing businesses in the Greater Montréal area. By helping them pursue their operations and by stimulating their growth, as is the case today, we are ensuring Quebec's manufacturing industry plays a major role in Canada's economic recovery."
Annie Koutrakis, Member of Parliament for Vimy and Parliamentary Secretary to the Minister of Tourism and Minister responsible for CED
"SMEs are at the core of community development, and that is why we are proud to support them. I am therefore delighted with CED's support today for Diacarb Tools' project, which will help strengthen Saint-Laurent's vitality and economic development. Congratulations to the entire team at Diacarb Tools on this wonderful project, and thank you for participating in building a stronger, more resilient, more sustainable economy for all Canadians."
The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for CED
"We continue to work with innovative manufacturers to give them the tools they need to increase their productivity and competitiveness. Thanks to support from our government, they can leverage innovation, a veritable economic engine and pillar of growth, to stimulate the local economy."
Emmanuella Lambropoulos, Member of Parliament for Saint-Laurent
"We are grateful for CED's support in accompanying us in this project to acquire equipment. Through this project, we will be able to better compete in a highly competitive market. This investment definitely aligns with our long-term growth plan to optimize our production. At Diacarb, we are proud to mass produce, on a constant basis, small, machined components that are complex and precise."
Marie-Eve Rachita, Director, Diacarb Tools
- The funds have been granted under CED's Regional Economic Growth through Innovation program. This program targets entrepreneurs leveraging innovation to grow their businesses and enhance their competitiveness, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions.
- In Quebec, SMEs account for 99.7% of the province's businesses and 50% of its GDP.
- CED is the key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow's economy.
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SOURCE Canada Economic Development for Quebec Regions
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