Investment will help scale up TEKNA, create 170 new jobs and promote Canadian innovation

SHERBROOKE, QC, June 28, 2018 /CNW/ - The Government of Canada is investing in Quebec's advanced manufacturing sector to promote innovation and create middle-class jobs.

Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced that the federal government will invest up to $21.1 million in advanced manufacturing company TEKNA Plasma Systems Inc. Minister Bains was joined by the Honourable Marie-Claude Bibeau, Minister of International Development and La Francophonie and Member of Parliament for Compton–Stanstead. Luc Fortin, Member for Sherbrooke, Minister of Families and Minister responsible for the Estrie region—on behalf of Dominique Anglade, Deputy Premier of Quebec, Minister of Economy, Science and Innovation, and Minister responsible for the Digital Strategy, and François Blais, Minister of Employment and Social Solidarity—announced a $9.4-million investment from the Government of Quebec. The total value of the project is up to $128.4 million.

This investment in advanced manufacturing will help create 170 jobs in Sherbrooke, will help attract foreign direct investment, and will help TEKNA produce innovative metallic powders used in additive manufacturing and electronic products. Additive manufacturing, also known as 3D printing, allows for the design of complex metal parts that are lighter and more efficient and environmentally friendly than conventionally manufactured parts.

TEKNA's project will help the company increase its total manufacturing production capacity and footprint in Sherbrooke and will advance next-generation manufacturing capabilities in Canada. It will also increase R&D, stimulate collaboration with Canadian post-secondary institutions, and help strengthen the Montréal–Sherbrooke advanced manufacturing cluster and supply chain.

Quotes

"Quebec is a leader in advanced manufacturing. The sector will employ close to 1.7 million Canadians and contribute $183 billion, or 10 percent, to Canada's GDP in 2018. Today's investment will create 170 jobs in Sherbrooke and will help TEKNA scale up to reach new markets and compete globally. It is investments like this one that will position Canada as a global innovation leader today and tomorrow."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development

"Our government is proud to invest in companies that are creating jobs and finding new and innovative ways to manufacture in a competitive world economy. TEKNA's project proves that Sherbrooke is an exciting centre of innovation in advanced manufacturing and will create well-paying jobs for families in the region."
– The Honourable Marie-Claude Bibeau, Minister of International Development and La Francophonie and Member of Parliament for Compton–Stanstead

"With increasing global competition, Quebec manufacturing companies, including those in Estrie, must innovate and make strategic investments to fully seize business opportunities available in different markets. TEKNA embraced the challenge, and that's why we're proud to support its project, which will enable it to strengthen its innovation expertise and capacity. We're just as enthusiastic about supporting this initiative, which will help open up new export markets, spur business growth and contribute to the economic well-being of Estrie and all of Quebec."
– Luc Fortin, Quebec Minister of Families and Minister responsible for the Estrie region

"Our government is proud to support manufacturing companies like TEKNA that are undertaking promising projects that will contribute to growth in the innovative manufacturing sector and in the field of 3D printing. Thanks to this important project, TEKNA is demonstrating its willingness to innovate in order to increase its performance and remain a leader in its field, both in Quebec and internationally."
– Dominique Anglade, Deputy Premier of Quebec, Minister of Economy, Science and Innovation, and Minister responsible for the Digital Strategy

"The Government of Quebec is committed, within a full-employment context, to supporting economic development, business growth and workforce skills development. We are therefore pleased to support TEKNA's efforts to train its workers. And let's not forget that the 2018–2023 National Workforce Strategy sets out measures for companies that are scaling up to attract and maintain qualified personnel."
– François Blais, Quebec Minister of Employment and Social Solidarity

"By creating products that didn't even exist yesterday, TEKNA is contributing to the manufacturing revolution brought on by 3D printing and Industry 4.0. We are writing tomorrow's history today. This investment project, though unprecedented, builds on 28 years of engagement with excellence and proves strategic for the company's development, growth and prosperity. We are extremely proud that our shareholder Arendals Fossekompani ASA supports the choice of Sherbrooke, the city where TEKNA was founded, as the place to carry out this promising plan."
– Luc Dionne, Chief Executive Officer, TEKNA Plasma Systems Inc.

Quick facts

• TEKNA is also a client of Innovation Canada, a new platform that helps growth-oriented Canadian businesses access the key government services they need to grow, such as financing, exporting, innovation and business advice.
• The $21.1 million federal investment includes up to $20 million through the Strategic Innovation Fund, a program designed to attract and support high-quality business investments across all sectors of the economy and $1.1 million from Canada Economic Development for Quebec Regions.
• The 1.1-million repayable contribution was awarded to the company under the Quebec Economic Development Program, which fosters entrepreneurship, business performance, and regional engagement and investment while providing ad-hoc support for economic activities to stabilize or strengthen the economy of Quebec communities.
• Through its ESSOR program, the Government of Quebec is providing financial support totalling $9 million to TEKNA. The Quebec government is also providing TEKNA with $433,650 in support through the Mesure de formation de la main-d'œuvre, volet Entreprises [workforce training measure, business component] and the Concertation pour l'emploi [working together for jobs] measure.
• The ESSOR program [link in French only] supports Quebec-based investment projects within the context of competitive growth and productivity, job creation, and sustainable development.
• The Mesure de formation de la main-d'œuvre, volet Entreprises provides financial support for projects that improve business competitiveness though employee skills development.
• The Concertation pour l'emploi measure [link in French only] supports stakeholders in dealing with issues related to human resources management.
• The 2018–2023 National Workforce Strategy [link in French only] will provide $1.3 billion in investments over the next five years. The strategy has two main objectives: ensuring that more people have jobs and creating an environment that promotes the development of the skills needed in Quebec's rapidly changing economy.

Follow Innovation, Science and Economic Development Canada on Twitter: @ISED_CA 
Follow Canada Economic Development for Quebec Regions on Twitter: @CanEconDev

Quebec Ministry of Economy, Science and Innovation on social media:

• Twitter: twitter.com/economie_quebec
• Facebook: www.facebook.com/EconomieQc/
• LinkedIn: www.linkedin.com/company/362721
• YouTube: www.youtube.com/user/MDEIEQuebec

SOURCE Innovation, Science and Economic Development Canada