The Val-d’Or plant receives $10 million in financial assistance from CED.
VAL-D’OR QC, June 21, 2022 /CNW Telbec/ – Economic Development Canada for the regions of Quebec (DEC)
Supporting the growth of forest industries through the introduction of advanced technologies contributes to the economic development of the regions of Quebec. That’s why dear Pascal Saint-OngeMNA for Brome-Missisquoi, the sports minister and minister in charge of CED, today announced a $10 million refundable contribution to Uniboard.
This support from CED will allow the company to increase its manufacturing capacity and productivity, expand its product line, and achieve a negative carbon footprint through new equipment and carbon sequestration in sustainable products.
Uniboard Canada employs 850 people at four factories in Quebec, located in Abitibi-Temiscaming, Bas Saint Laurent and Laurentian, as well as at the head office in Laval. The plant in Val-d’Or specializes in the production of engineered wood products in the form of raw chipboard and hot-melt melamine panels for companies in the construction industry. The project will create 26 jobs.
Government Canada recognizes and supports businesses and organizations that are a source of pride in their communities. The recovery of the Quebec economy depends on institutions firmly rooted in the regional economy. They make a significant contribution to growth and are key assets for rebuilding a stronger, more resilient, greener and more equitable economy for all.
“Quebec businesses are at the heart of our communities and are part of our government’s economic recovery plan. We are determined to help them thrive and increase their competitiveness and productivity. Our government is proud to support Uniboard, especially since its project has an important environmental aspect. The contribution of this forestry company to the economic viability of the Val d’Or is undeniable and I am convinced that this project will bring concrete benefits to the region, Quebec and Canada. »
The Honorable Pascal Saint-Onge, MNA for Bromay-Missiscois, Minister for Sports and Minister in Charge of CED
“We thank the government Canada for contributing to this major project with a total investment of $250 million. It’s 3e The upgrade phase of the Val-d’Or plant will make it the most modern chipboard plant in North America. Building on 45 years of success in Val-d’Or, these investments will play an important role in developing new markets and new product lines, while keeping us competitive and reducing our carbon footprint. »
André Lemire, Vice President of Finance and Chief Financial Officer of Uniboard
- The funds were provided as part of the CED’s “Regional Economic Growth Through Innovation” program. This program is designed for entrepreneurs who rely on innovation to grow their businesses and increase their competitiveness, as well as regional economic players who contribute to creating an entrepreneurial environment that promotes innovation and growth for all. , in each region.
- CED is a key federal partner for regional economic development in Quebec. Through its 12 regional offices, CED helps businesses, support organizations and all regions of Quebec towards the economy of tomorrow.
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SOURCE Economic development Canada for the regions of Quebec
For more information: Media Relations, Economic Development Canada for the Regions of Quebec, [email protected]; Ariane Joazar-Belizer, Press Officer, Office of the Minister of Sports and Minister for Economic Development of Canada in the Regions of Quebec, [email protected]