Canadian Government Announces Support For Steel, Aluminum Companies IN British Columbia
The Canadian government announced last week that it will provide more than $4.9 million in funding to steel and aluminum companies across British Columbia.
The support, which comes from the Regional Economic Growth through Innovation (REGI) Steel and Aluminum Initiative that the government put into place in March 2019, provides targeted funding for small and medium-sized businesses through non-repayable contributions for projects to enhance productivity, increase competitiveness by adopting new innovative technologies and create more highly skilled jobs. This $4.9 million in support is expected to create nearly 100 new positions in the steel and aluminum sectors.
Recipients are: Rapid-Span Structures Ltd. to implement state of the art machinery to increase productivity; Unifab Industries Ltd. to acquire, install and commission an automated processing system; Timber West Construction Ltd. to install blasting and coating equipment to grow local steel capacity; New World Technologies Inc. to purchase and install two automated computer numerical controlled (CNC) machines to increase productivity and production capacity; Coulson Ice Blast Ltd. to purchase equipment to relocate manufacturing capabilities to their Port Alberni facility and launch a new ice blast cleaning system to reduce production costs and increase sales; Daigle Marine Inc. to purchase equipment to modernize and automate its boat building operations to improve productivity; Structa to develop a new manufacturing facility to commercialize a new product line; KG Industries Ltd. to implement new equipment to increase production efficiencies and capabilities; Pacific Bolt Manufacturing Ltd. to implement enterprise resource planning software, barcoding system and e-commerce portal; and CenDek Railings Ltd. to purchase and install a robotic welding auto cell to increase production capacity.
The Honorable Mary Ng, Minister of Small Business and Export Promotion, said, “The small and medium-sized businesses in our steel and aluminum industries are important contributors to the economic vitality of communities across the country. By investing in their success, we are investing in the success of all Canadians.”
In 2018, Canada’s steel and aluminum industry employed more than 33,500 Canadians and contributed $8.9 billion to Canada’s gross domestic product.