Machitech Inc. Expands With Support From Government of Canada

SAINT-MARC-DES-CARRIÈRES, QUEBEC--(Marketwired - May 22, 2014) - Canada Economic Development

The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that Machitech Inc. received financial assistance to pursue its commercialization and expansion efforts.

This support was awarded in the form of a $234,255 repayable financial contribution through Canada Economic Development's Quebec Economic Development Program.

Quick facts

• The assistance enabled Machitech Inc. to step up commercialization, both in Canada and the United States, of its innovative high-definition plasma, high-pressure waterjet and fiber laser metal cutting equipment.
• The company's project involved hiring staff, manufacturing demonstration units and acquiring a machining centre as well as bridge cranes.
• Established in Canada for many years, Machitech recently expanded its factory in the goal of doubling its production capacity and of manufacturing large-sized custom equipment to meet the demands of the North American market.

Quotes

"To help the Canadian economy remain competitive, our Government is committed to doing all it can to support enterprises that, like Machitech, are developing new products that are not only innovative but competitive on external markets as well."

Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec

"This financial assistance allowed us to take action to better satisfy our customers' needs for non-standard equipment and to commercialize our products outside Canada. Among other things, our sales team was able to take part in North American trade shows and intends to continue doing so to promote our various products."

Christian Giguère, President of Machitech Inc.

Related link

Machitech Inc. Web site: www.machitechautomation.com

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