The Government of Canada awards $600,000 in financial assistance to this innovative Montréal business
Baie-D’Urfé, Quebec – Canada Economic Development for Quebec Regions (CED) - Precimold Inc. is a highly innovative SME specialized in the molding of high-precision plastic parts. To continue its operations more effectively, it will receive a repayable contribution of $600,000 from Canada Economic Development for Quebec Regions. With this financial assistance, Precimold will be able to complete an expansion project to increase its production capacity by acquiring state-of-the-art equipment and modernizing its operations.
The funding was announced today by Francis Scarpaleggia, Member of Parliament for Lac-Saint-Louis. More specifically, the Government of Canada's support will allow Precimold to automate and connect its production equipment in order to make the plant more efficient and capable of achieving its ambitious growth objectives. By increasing its capacity and continuing to invest in R&D, the company will be able to develop new solutions that will accelerate its growth in international markets while continuing its activities with its existing clients in the aerospace, automotive and medical equipment sectors.
Established in 2018, Precimold is the result of a merger between Precimold Inc., founded in Candiac in 1966, and Kamek Precision Tools, founded in Baie-D'Urfé in 1996. It is now a leading specialist in the manufacture of high-precision plastic bearing cages, as well as in complex assemblies and micro-molding. It also holds a number of aerospace, medical device and automotive manufacturing certifications. The company employs 95 people and expects the current project to create 15 jobs and investments of over $2 million.
The Government of Canada is committed to supporting innovative Canadian businesses. A driving force of the economy, innovation is the key to success because it generates growth that benefits both businesses and communities. This is why we are committed to ensuring that businesses are able to rely on adequate resources to create and market innovative products.
Source : Government Of Canada