BC steel manufacturers receive $1.6M from feds for new equipment
July 29, 2019 by Manufacturing AUTOMATION
July 29, 2019 – Two Vancouver-area steel manufacturers are receiving $1.6 million in funding from the federal government to upgrade equipment and improve manufacturing practices.
With $663,921 in funding, Menzies Metal Products will purchase two pieces of equipment, install a resource system and adopt lean management practices. This will allow the company to manufacture products on demand and expand its capacity to access new domestic and international markets.
“This funding will enable us to accelerate our growth plans, increase our presence in new markets and provide stable long-term employment for new and existing employees,” says Matt Lewis, president, Menzies Metal Products, in a release.
Another $1 million will help Reliable Tube Inc. upgrade its manufacturing capacity with a tube laser-cutting machine. This will allow the company to expand market opportunities by offering more complex processing through ready-for-use products.
“After 30 years in business, Reliable Tube recognized we had a duty to our employees and customers to expand our capabilities in order to remain a strong and stable employer/supplier,” says Mike Quinn, general manager for Reliable Tube. “By partnering with the Western Economic Diversification Canada, we are able to accelerate our growth plans and offer a progressive and forward thinking approach to steel processing.”
The funding is allocated through the Regional Economic Growth through Innovation (REGI) Steel and Aluminum Initiative, which provides SME steel and aluminum manufacturers and users with non-repayable contributions for projects to enhance productivity, increase competitiveness by adopting new innovative technologies, and create more highly-skilled jobs.
In 2018, Canada’s steel and aluminum industry employed more than 33,500 Canadians and contributed $8.9 billion to Canada’s gross domestic product.