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Government of Canada now closer than ever to Montérégie steel industry

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Minister Mélanie Joly announces $1.5M in support from Canada Economic Development for Quebec Regions for Fati Steel, which has led to the creation and maintenance of 18 jobs.

VARENNES, QC, Feb. 24, 2021 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

The vitality and dynamism of communities—founded on strong, resilient, innovative SMEs—ensure sustainable economic growth for all and quality jobs for Canadians. Keen to understand clearly the particular realities of Quebec's regions and to support the businesses that make them strong, the Government of Canada, listening now more than ever, is investing in projects that will be promising for the economic recovery.

In the Montérégie region, the steel industry counts several dynamic businesses with innovative ideas whose work is boosting the region's reputation across the country. Tested by the challenges posed by COVID-19, these SMEs are now ready to rebound. And as Quebec's regional prosperity relies on strong local economic fabric, where businesses are able to innovate and lead promising projects, the Government of Canada is signalling its presence to support them as they pursue their activities and to foster their growth.

Fati Steel has received $1.5M for promising project for steel sector

With this in mind, the Honourable Mélanie Joly, Minister of Economic Development and Official Languages, today announced $1.5M in financial support for Fati Steel Inc. The repayable assistance has enabled the Varennes business to expand its range of products and increase its production capacity, which has led to the creation and maintenance of 18 jobs.

Founded in 1989, Fati Steel is a business that manufactures and distributes steel slats and laminated steel tubular products to the construction, automobile, industrial equipment and naval construction sectors, among others. Thanks to its flexible structure and engineering team, Fati offers mass production and develops specialized products on a small scale. The business, which has experienced strong growth over the last three years, distributes its products across Canada and in the northeast U.S.

The Government of Canada is proud to recognize and support businesses and organizations working in sectors of activity that are a source of pride in their communities. Quebec's future and economic recovery are founded on the flagship industries of regional economies. They contribute significantly to Quebec's economic growth and will be key assets to rebuild a stronger, more resilient and more just economy for all.

Quote

"The Government of Canada has a mission to accompany the country's businesses and regions into tomorrow's economy and to help them seize the business opportunities that will arise. That is why we are providing our support to the specific assets of Quebec's different regions, such as here in the Montérégie region; they will be essential elements in ensuring an inclusive recovery and in creating good jobs in all of our communities."

The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED

Quick facts

  • The Honourable Mélanie Joly is the minister responsible for the six regional development agencies (RDAs), including CED.

  • CED is a 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.

  • This contribution has been granted under the Regional Economic Growth through Innovation program, which aims to support Quebec SMEs as they develop through innovation, among other things.

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SOURCE Canada Economic Development for Quebec Regions

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View original content: http://www.newswire.ca/en/releases/archive/February2021/24/c4583.html