Six Quebec aerospace companies get federal funding
The six companies, which provide aerospace parts and services, will benefit from funding announced by Canada’s innovation minister at the Paris Air Show.
In an initiative designed to create almost 100 new jobs, Canada’s federal government is investing $2.2 million in firms that service Quebec’s aerospace industry.
The announcement was made at the International Paris Air Show by Navdeep Bains, minister of Innovation, Science and Economic Development
“Canada’s aerospace industry is defined by its global leadership in the development of new technologies, which depend on the talents of the highly skilled men and women who work in this sector,” Bains said. “The innovations and business opportunities that are created as a result support well-paying, middle-class jobs across the country. And they allow Canadian companies to grow into globally competitive successes.”
The funding will benefit the following companies:
- APN Inc. manufactures high-precision parts for various industries, including the aerospace industry. $500,000 will help purchase new production equipment that will improve the plant’s productivity and environmental performance.
- BHS Composites Inc. develops custom composite parts. $325,000 will help the business expand in Canada and the U.S.
- DCM Group Inc. provides turnkey solutions for aerostructure manufacturing and repair, maintenance tooling and ground equipment for aircraft. $400,000 will help the business maintain competitive prices.
- Libellule Monde Inc. designs and manufactures custom products for aircraft surfaces. $600,000 will help the business commercialize its products on the international market and purchase technological equipment.
- Rapid Precision Industries Ltd. specializes in the machining and manufacturing of custom high-precision metal parts. $225,000 will help the business diversify its range of products.
- TRAF Industrial Products Inc. provides specialized high-precision machining services, along with the design, manufacturing and assembly of aerospace components. $150,000 will help purchase state-of-the-art equipment.
In 2016, the aerospace industry contributed $28 billion in GDP to the Canadian economy and 208,000 jobs.