May 22, 2019 | Local, C4ISR
Gentec will be able to increase its productivity and continue its expansion
Gentec Inc. is a technology SME specializing in high-power electronics and electrical energy management. To continue its operations more effectively, it will receive a repayable contribution of $500,000 from Canada Economic Development for Quebec Regions. With this financial assistance, Gentec will be able to complete an expansion project to increase its productivity and modernize its operations by acquiring state-of-the-art equipment. The funding was announced today by Joël Lightbound, Member of Parliament for Louis-Hébert and Parliamentary Secretary to the Minister of Finance. More specifically, the Government of Canada's assistance will support Gentec's growth, as well as its project to purchase and install equipment required for the assembly of electronic components on printed circuits. Founded in 1959, Gentec Inc. specializes in the design, manufacture and marketing of customized solutions and products. A team of about 70 employees is dedicated to the manufacture and assembly of electronic and electrical products. Its electronic circuit assembly service is also sub-contracted to a large number of companies. Gentec employs a total of nearly 130 people. It expects the current project to create five jobs and total investments of more than $1.3 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. https://www.canada.ca/en/economic-development-quebec-regions/news/2019/05/gentec-will-be-able-to-increase-its-productivity-and-continue-its-expansion.html