SAINT-HYACINTHE, QUEBEC--(Marketwired - March 17, 2015) - Canada Economic Development for Quebec Regions (CED)

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, today announced that four Saint-Hyacinthe companies have been granted financial support for projects aimed at stimulating their development and growth.

This assistance has been awarded in the form of four repayable contributions totalling $1,650,000 through CED's Quebec Economic Development Program.

Quick facts

• The four recipients of this financial assistance from the Government of Canada are Laboratoire Zénith Inc., Bio Biscuit Inc., AriVac Inc., and Natur+l XTD Inc.
• Total investment generated by these projects will reach $10,030,800.

Quote

"By supporting the development of these four enterprises in the Montérégie region, our government is showing once again its commitment to investing in projects that help grow the economy."

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

Related document

See the accompanying backgrounder for further details on these four projects.

Related link

To learn more about the QEDP

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BACKGROUNDER

Four Saint-Hyacinthe Companies Receive Financial Assistance from CED for Projects Aimed at Stimulating their Development and Growth

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, today announced that four Saint-Hyacinthe companies have been granted financial support for projects aimed at stimulating their development and growth.

Promoter	Contribution - Investment - Project description
Laboratoire Zénith Inc.	Repayable contribution of $700,000 on a total investment of $3,750,000 The project is to start up a new company specialized in the manufacture of generic pharmaceutical products and natural health products. The arrival of Laboratoire Zénith Inc. in Saint-Hyacinthe will help develop the life sciences industry, an emerging sector in the Des Maskoutains RCM. The firm will offer product formulation, design and development, manufacturing and pharmaceutical packaging services on a provincial, national and international scale. The financial assistance will mainly serve to purchase and install new equipment required to manufacture pharmaceutical products. The new firm specialized in the pharmaceutical and nutraceutical field will be able to round out its stock of equipment by acquiring an automatic encapsulation machine, new tablet compression machines, a high capacity blender, two heating tanks, a coater pan, laboratory and R&D equipment, and two complete packaging lines to bottle the products. At startup, Laboratoire Zénith Inc. expects to hire about 15 new employees.
AriVac inc.	Repayable contribution of $250,000 on a total investment of $975,000 Founded in 2003, AriVac Inc. specializes in the field of veterinary biotechnologies. The company mainly operates in the development of rapid diagnostic kits (animal and foodborne pathogens) and generic veterinary products. Its products and services are intended for animal health professionals, such as veterinarians and livestock producers, as well as hygiene and food safety experts. AriVac will use the financial assistance to acquire and install laboratory equipment and to carry out the tests and clinical trials needed to complete the development of new bioveterinary products and thus position itself in the veterinary pharmaceutical field, a strategic niche in Saint-Hyacinthe. The firm expects this project to result in the creation of three new jobs. Website: AriVac Inc. (http://www.arivac.com/)

Promoteur

Contribution - Investment - Project description

Bio Biscuit Inc.

Repayable contribution of $500,000 on a total investment of $4,755,000 Founded in 1996, Bio Biscuit Inc. is the only company in Quebec that makes dog biscuits and dry oven-baked food for cats and dogs. This current project aims to tap the full commercial potential of the proprietary products of the company, which also manufactures private label products. The financial assistance will be used to acquire and install a second production line for the manufacture of Bio Biscuit's range of homemade products as well as the manufacture of private-label products for two multinationals, following the award of two new contracts. These products are intended for the Canadian and United States markets. Part of the firm's growth strategy, this project will enable Bio Biscuit to assert its commercial vocation. On the sideline, the company will carry out international commercialization and market development activities to position its proprietary products and stimulate their sales. The project will help the company pursue its growth while generating an increase in its exports and profitability and leading to the creation of eight new jobs. Website: Bio Biscuit Inc. (http://www.biobiscuit.com/en/index.html)

Promoter

Contribution - Investment - Project description

Natur+l XTD Inc.

Repayable contribution of $200,000 on a total investment of $550,800 Founded in 2011, Natur+l XTD Inc. is the only federally registered private company in Canada to offer a cold-pasteurization tolling service. This high pressure process (HPP), a high hydrostatic pressure pasteurization process that subjects foods to high pressure while reducing the amount of preservatives and other chemical additives used and producing better-tasting food with a longer shelf life. The financial assistance will help carry out a commercialization strategy in Quebec and Ontario following the hire of a business development specialist. It will also be used to implement a food safety management system and equipment to facilitate shipping supply chain management. The project, which will energize the company's development and diversify its sales, is expected to result in the creation of eight to 10 new jobs. Website: Natur+l XTD Inc. (http://www.naturelxtd.com/en/index.php)

Summary

Number of projects:	4
Total contribution from CED:	$1,650,000
Total investment generated by these projets:	$10,030,800