Ottawa and Quebec award nearly $2.8 million for the start-up of the FjordAl Aluminium plant

Saguenay?Lac-Saint-Jean investment project valued at over $6 million

SAGUENAY, QC, June 27, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

The governments of Canada and Quebec are providing a total of $2,780,000 in financial assistance to the company FjordAl Aluminium for starting up an aluminium rod manufacturing plant in the Jonquière sector of Saguenay. The project, valued at $6,590,000, will create 20 jobs.

Mr. Richard Hébert, Member of Parliament for Lac-Saint-Jean and Parliamentary Secretary to the Minister of Small Business and Export Promotion, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Canada Economic Development for Quebec Regions (CED), along with Ms. Andrée Laforest, Minister of Municipal Affairs and Housing and Minister Responsible for the Saguenay?Lac-Saint-Jean Region, on behalf of Mr. Pierre Fitzgibbon, Minister of Economy and Innovation, made the announcement today.

The Government of Canada is awarding a repayable contribution of $1,000,000 under CED's Quebec Economic Development Program. The Government of Quebec's assistance consists of two loans: one for $990,000 from Investissement Québec's own funds, and a second one for $790,000 from the ESSOR program by the Ministère de l'Économie et de l'Innovation.

Quotes:
"The establishment of this new plant in Jonquière contributes to the strategic positioning of Saguenay?Lac-Saint-Jean and Quebec as a regional aluminium processing sector. I am pleased with CED's support for a company like FjordAl Aluminium, which exemplifies the vitality and innovative spirit that characterize the region."

Richard Hébert, Member of Parliament for Lac-Saint-Jean and Parliamentary Secretary to the Minister of Small Businesses and Export Promotion

"The Government of Canada is committed to investing in entrepreneurship to grow the economy and increase the prosperity of Canadians, which is why we are supporting the start-up of the FjordAl Aluminium plant, which will create quality jobs in the Saguenay?Lac-Saint-Jean region."

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

"The directors of FjordAl Aluminium have managed to target a promising niche, namely alloy rods for welding, mechanics and electrical wire sheathing, a growing market in North America. My colleagues Nancy Guillemette, Éric Girard, François Tremblay and I are proud to help this visionary company carry out a project that will have positive benefits for the Saguenay?Lac-Saint-Jean region and for Quebec as a whole."

Andrée Laforest, Minister of Municipal Affairs and Housing and Minister Responsible for the Saguenay-Lac-Saint-Jean Region

"Aluminium processing is one of Saguenay?Lac-Saint-Jean's niches of excellence, and it benefits from the synergy and close relationships among the companies. The presence of a complete supply chain facilitates the implementation of innovative projects such as the one by FjordAl Aluminium. All the conditions are right for making this project a true success, and the government is pleased to contribute to it."

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

"Investissement Québec is proud to support FjordAl Aluminium with its project to establish an aluminium rod production plant. We intend to keep supporting the growth of the innovative manufacturing sector [website in French only] throughout Quebec by providing the assistance needed by both large and small players, like FjordAI Aluminium, in their growth and innovation actions."

Guy LeBlanc, President and CEO of Investissement Québec

"The start-up of FjordAl Aluminium is excellent news because establishing it will generate investments of roughly $6.6 million and create 20 quality jobs, which will definitely contribute to the economic growth of our city and our region. This is a project with great potential which will strengthen Saguenay's position in the aluminium processing industry."

Josée Néron, Mayor of Saguenay

Quick facts:
FjordAl Aluminium will produce aluminum rods of various alloys and diameters. Those rods, produced using a continuous casting process, can be used for a number of purposes, including electrical transmission, welding, and for manufacturing rivets, nails, screws, bolts, fencing, antennae, and zippers.

The company is aiming to reach a production capacity of 15,000 metric tonnes after two years of operation.

The ESSOR program [website in French only] aims to support investment projects carried out in Quebec, from the perspective of 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:
To receive real-time news releases from the Ministère de l'Économie et de l'Innovation, subscribe to the appropriate RSS feed at www.economie.gouv.qc.ca/rss.

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