Matériaux spécialisés Louiseville will be able to improve its productivity and continue its growth

The Government of Canada awards nearly $390,000 in financial assistance to this business in the Maskinongé regional county municipality

LOUISEVILLE, QC, May 22, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

Matériaux spécialisés Louiseville Inc. (MSL) is an innovative SME that recycles 25,000 tonnes of lumber each year; it manufactures some of the most eco-friendly construction materials available. To continue its operations more effectively, the company will receive a repayable contribution of $387,480 from Canada Economic Development for Quebec Regions. With this financial assistance, MSL will be able to modernize its production through the acquisition of new digital equipment to continue expanding in its markets.

The funding was announced today by Rémi Massé, Member of Parliament for Avignon–La Mitis–Matane–Matapédia and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development, at a facility tour. More specifically, the Government of Canada's assistance will support MSL's growth, as well as the completion of its project to improve productivity and product quality, increase production capacity and reduce production costs.

Founded in 2003, Matériaux spécialisés Louiseville specializes in the manufacture of construction products (recycled wood fibre-based panels) designed mainly for soundproofing, commercial roofing and thermal insulation. MSL's facility is ISO 9001-certified and features a unique, fully automated and environmentally friendly production process operating with a closed water circuit (zero effluent). The current project is expected to generate total investments of nearly $1.3 million and create three jobs.

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.

Quotes

"I am delighted with the Government of Canada's support for this business, which is known for its drive, boldness and innovative spirit. This contribution will help MSL continue to develop and generate benefits for the entire community."

Rémi Massé, Member of Parliament for Avignon–La Mitis–Matane–Matapédia and Parliamentary Secretary to the Minister of Innovation, Science and Economic Development

"As Minister of Innovation, Science and Economic Development, my goal is to help businesses grow and innovate so that they can become more competitive in the market and create good-quality jobs and wealth for Canadians. That is why we support businesses like MSL, whose successes benefit the region and the Canadian economy as a whole."

The Honourable Navdeep Bains, Minister responsible for CED

"In order to continue growing, MSL needs to make sure it keeps pace with its main competitors. To this end, CED's financial assistance will help us make the necessary investments to improve our productivity."

Patrick Wellington, President, Matériaux spécialisés Louiseville

Quick facts

• Today's announcement was made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which is made up of 17 federal departments and agencies, including CED and the other five regional development agencies.
• The funding was awarded under CED's Quebec Economic Development Program. To find out more about CED and its priorities, see the 2019–2020 Departmental Plan or visit www.dec-ced.gc.ca.

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SOURCE Canada Economic Development for Quebec Regions