Industries Granby and Pro-Par are developing the means to pursue their growth

Investment of $13 million for two oil tank manufacturing plants in Montérégie and Estrie

COWANSVILLE, QC, June 21, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

The government of Quebec and the government of Canada as well as Investissement Québec (IQ) award financial assistance totalling over $4.5M to Gestion Jerico to support projects that represent investments estimated at $13M. With this support, Gestion Jerico will be able to upgrade two of its plants, one in Cowansville (Industries Granby S.E.C.) and one in Sherbrooke (Pro-Par Inc.), and add a new manufacturing line to optimize production capacity and better serve the North American market.

Ms. Isabelle Charest, Minister Responsible for Education, Minister Responsible for the Status of Women and Member of the National Assembly for Brome-Missisquoi, and the Honourable Denis Paradis, Member of Parliament for Brome-Missisquoi, made the announcement today.

The Government of Quebec and Investissement Québec are providing a total of more than $3.3M in financial assistance. Through the ESSOR program, the Ministère de l'Économie et de l'Innovation provides a $1.4M loan to Industries Granby, while Investissement Québec provides a $1.4M loan from its own funds. As for Pro-Par, Quebec is providing two loans totalling $540,000, $270,000 through the ESSOR program and $270,000 from IQ's own funds.

The Government of Canada is providing a repayable financial contribution of $1.2M. The funds, which were provided by the Quebec Economic Development Program of Canada Economic Development for Quebec Regions (CED), enabled the two Gestion Jerico firms to acquire cells and automated drilling and rolling, welding, paint preparation and application, forming and joining, handling and welding inspection equipment.

Gestion Jerico Inc. is the parent company of a group of companies that have been involved with tanks for the storage of petroleum products (oil, propane, etc.) since 1954. Gestion Jerico has 10 production sites located in Canada and the United States. The group's leading company, Granby Industries S.E.C, is now the North American leader in the manufacture of residential steel tanks for fuel oil. The Sherbrooke company, Pro-Par Inc., specializes in the manufacture of propane tanks and the assembly of propane transport trucks.

Quotes:
"I would like to mention how proud I am that plants in the Montérégie and Estrie regions are being recognized and supported to ensure their sustainability. Industry 4.0 is knocking on our doors and is a way to ensure the competitiveness of well-established Quebec businesses and the maintenance of jobs in the regions."

Isabelle Charest, Member of the National Assembly for Brome-Missisquoi and Minister Responsible for Education and Minister Responsible for the Status of Women

"The digital shift and industry 4.0 offer enormous potential to increase productivity and ensure that Quebec remains in an enviable position internationally. The Government of Quebec is therefore very pleased to support the Gestion Jerico initiative, because by embarking on this major project, the company is helping to make Quebec's economy innovative, competitive and attractive and an economy of digital excellence."

Pierre Fitzgibbon, Minister of Economy and Innovation and Minister responsible for the Lanaudière Region

"I am delighted with the support granted to Gestion Jerico for its two well-established plants in the Montérégie and Estrie regions. Thanks to CED's support, they will be able to automate their processes in order to promote their productivity and thus enhance their competitiveness in export markets. "

The Honourable Denis Paradis, Member of Parliament for Brome?Missisquoi

"By supporting Gestion Jerico, the Government of Canada is making good on its commitments and helping companies expand, innovate and export so that they can create quality jobs and thus ensure the prosperity of the Canadian economy."

The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED

"We are proud to support the growth of this dynamic company, which is helping to strengthen the manufacturing sector here in the Montérégie and Estrie regions. With its important modernization projects, Gestion Jerico is definitely taking every opportunity to fully benefit from all the business opportunities available to it."

Guy LeBlanc, President and CEO of Investissement Québec

"The $13M investment goes well beyond expanding and adding new equipment. This is a new mode of operation based on the complete integration of automation in each of the manufacturing stages for our production sites in Cowansville and Sherbrooke. After 65 years of existence, we are proud to be entering a more intelligent production era and happy that both levels of government have been able to support us in this modernization."

Pierre Fournier, President, Industries Granby S.E.C. and Pro-Par Inc.

Quick facts:
This announcement is made on behalf of Pierre Fitzgibbon, Minister of Economy and Innovation and Minister Responsible for the Lanaudière Region, as well as the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Canada Economic Development for Quebec Regions (CED).

The ESSOR program aims to support investment projects carried out in Quebec with a view to increased competitiveness and productivity, job creation and sustainable development.

CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.

Related links:
For more information about CED and its priorities, see the 2019-2020 Departmental Plan or visit www.dec-ced.gc.ca.

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SOURCE Canada Economic Development for Quebec Regions