Subjects: ECO, CPG, CFG
Government of Canada invests in launch of second production line at Les Pliages Apaulo
Waterville business receives $500,000 in financial assistance from CED.
WATERVILLE, QC, April 29, 2024 /CNW/ - Canada Economic Development for Quebec Regions (CED)
Supporting business growth contributes to economic development in Quebec's regions. That is why the Honourable Marie?Claude Bibeau, Minister of National Revenue, on behalf of the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED, today announced a repayable contribution of $500,000 for Les Pliages Apaulo Inc. This CED assistance will enable the business to improve its productivity by adding a second production line.
Created in 1988 by the Compagna family, Les Pliages Apaulo manufactures different molded plywood products for the furniture industry and the corrugated cardboard manufacturing industry. Acquired by Estrie entrepreneurs in 2022, the business will install a second production line to better support its growth by expanding its operations. CED's funding will focus on the acquisition and installation of a robotic cell for a cutting and sanding station.
The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. Quebec's economic recovery relies in particular on a manufacturing sector with organizations that have strong roots in the regional economy. The players in this industry are major contributors to growth, as well as key assets in building a sustainable, inclusive economy.
"Today's announcement is proof once again of the Government of Canada's commitment to manufacturing businesses in the Cantons-de-l'Est region. By helping them pursue their activities and by stimulating their growth, we are ensuring Quebec's manufacturing industry plays a major role in Canada's economic growth. I am delighted that CED is contributing to the expansion of Les Pliages Apaulo's operations, as its new leaders have quickly grasped the positive effects of a technological update to their facilities."
The Honourable Marie-Claude Bibeau, Minister of National Revenue
"SMEs are at the core of community development and their growth is a priority for our government. CED's support for Les Pliages Apaulo's project is proof of this. Its contribution to Waterville's economic vitality is clear! The success and spin-offs of this project to establish a second production line will be felt right across the region and throughout Quebec and Canada."
The Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED
"We are incredibly grateful to CED for contributing to the growth of our organization. This assistance will enable us to enter or conquer new markets and thereby strengthen the jobs within our business."
Jean-François Beaulieu, CEO, Les Pliages Apaulo
- 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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