BROMONT,
QC, May 24, 2024 /CNW/ - The governments of
Canada and Québec are providing a
total of $2,895,150 to
Exxel Polymers, located in Bromont in the Estrie
region. This support will enable the business to acquire equipment
to increase its productivity and production capacity in order to
sustain its growth.
The Honourable Pascale St‑Onge, Member of Parliament for
Brome‑Missisquoi and Minister of Canadian Heritage, on behalf
of the Honourable Soraya Martinez Ferrada, Minister
of Tourism and Minister responsible for
Canada Economic Development for Quebec Regions
(CED), and Isabelle Charest, Member for Brome‑Missisquoi
and Minister Responsible for Sports, Recreation and
the Outdoors, on behalf of Pierre Fitzgibbon, Minister
of Economy, Innovation and Energy, Minister Responsible
for Regional Economic Development and Minister Responsible for
the Metropolis and the Montréal Region, made the announcement
today.
The aim of this investment project, valued at over
$4 million, is to enable Exxel Polymers Inc.—a
business specializing in the formulation and production of 100%
recycled plastics—to meet the demand and pursue its growth and
efforts to export.
As part of this project, the Government of Canada is providing a repayable contribution
of $1 million under CED's Regional Economic Growth
through Innovation program. For its part, the Government
of Quebec is granting a loan of $1,440,000 under the ESSOR program, administered
by Investissement Québec (IQ) as the government's
representative, as well as a loan of $455,150 from IQ's own capital funds.
Quotes
"Our government has made concrete commitments to demonstrate
that a strong economy and a healthy environment go hand in hand.
That is why we are investing strategically in clean technology, a
priority in our economic recovery plan. By helping SMEs become more
innovative and competitive and by supporting innovation to develop
greener technologies and products, we are laying the foundation for
the jobs of tomorrow."
The Honourable Pascale St‑Onge, Member of
Parliament for Brome‑Missisquoi and Minister
of Canadian Heritage
"Our government supports businesses that leverage innovation and
that are at the core of our economic development. That is why we
are providing our assistance to Exxel Polymers, whose success
is raising the profile not only of the Cantons‑de‑l'Est region, but
also of the Canadian economy as a whole. We are here to help
workers and Quebec and Canadian
SMEs. By supporting businesses, we are working together to help
build a stronger, more resilient, more sustainable economy."
The Honourable Soraya Martinez Ferrada,
Minister of Tourism and
Minister responsible for CED
"We are helping businesses equip themselves with what they need
to be able to innovate, remain competitive, prosper, and create
good jobs. Thanks to our government's financial support,
Exxel Polymers will be able to strengthen its position in the
industry and on the markets, which will also help stimulate the
regional economy. This assistance will thus benefit the entire
Bromont region and enable the
Canadian economy to prosper."
The Honourable Steven Guilbeault, Minister
of Environment and Climate Change
"By supporting the circular economy, we are preserving our
resources and creating more wealth. The project announced today
demonstrates that Brome-Missisquoi is home to businesses looking
far into the future and that are concerned about protecting our
planet. This is in full alignment with our vision for Quebec's future."
Isabelle Charest, Member for Brome‑Missisquoi and Minister
Responsible for Sports, Recreation and the Outdoors
"By investing in clean technology, as Exxel Polymers is
doing, we are helping to protect the environment while also
fostering regional economic growth. This is concrete action to
boost the development of a sustainable economy."
Pierre Fitzgibbon, Minister of Economy, Innovation and
Energy, Minister Responsible for Regional Economic Development and
Minister Responsible for the Metropolis and the Montréal
Region
"Investissement Québec has stood with the leaders of
Exxel Polymers for nearly 20 years now and is proud to
support them in this important optimization project. By acquiring
equipment, the manufacturer will be able to increase its
contribution to the recovery of plastics and meet the demand in a
market that is growing both at home and internationally."
Bicha Ngo, President and Chief
Executive Officer, Investissement Québec
"We are proud to count on the support of Investissement Québec
and Canada Economic Development for Quebec Regions to
implement our project. Thanks to this crucial investment, we are at
the point of doubling our production capacity and setting out to
conquer new markets, thereby strengthening our position as an
industry leader. In concrete terms, IQ and CED are helping
Exxel Polymers as it turns plastic waste into valuable
resources, while also reducing the carbon emissions associated with
the production of new plastics. We are combining economic
development with sustainable development."
Hans Fortin, General Manager,
Exxel Polymers
Quick facts:
- Founded in 2003, Exxel Polymers collects post-industrial and
post-consumer plastic waste from different sources to process and
transform it through granulation, shredding, and extrusion. The
business sells the recycled materials through an established
distribution network, and over half of its production is exported
outside Quebec.
- CED is the key federal player in Quebec to promote economic development in the
regions and among small and medium-sized enterprises (SMEs).
- CED's Regional Economic Growth through Innovation program
targets entrepreneurs leveraging innovation to grow their
businesses and enhance their competitiveness, as well as regional
economic stakeholders helping to create an entrepreneurial
environment conducive to innovation and growth for all, across all
regions.
- With a view to enhancing competitiveness and productivity,
creating jobs, and fostering sustainable development, the ESSOR
program aims to support investment projects in Quebec.
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SOURCE Canada Economic Development for Quebec Regions