Federal government offers financial assistance to Quebec business for enhancing productivity

The Government of Canada recently offered a repayable contribution of $5 million to Drummondville, Quebec-based Soucy International. This CED support will enable the company to manufacture and acquire production equipment to improve its productivity and enhance its production capacity.

The announcement was made by the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED, announced.

“This major investment aligns with our long-term growth plan for the production of our tracks and track systems for the agricultural and industrial sectors. It will help increase Soucy International’s production capacity, while also improving our productivity by integrating automation and robotics. The investment CED provided to Soucy Techno last year also enabled us to increase our volume of rubber production to supply Soucy International with raw materials. For us, this is a strategic investment making it possible to expand our businesses right here in Quebec and to remain competitive in our markets,” said Jasmin Villeneuve, chief operating officer of Soucy International.

Created in 1967, Soucy International specializes in the manufacture and development of track systems and high-performance components and accessories for off-road vehicles. The business is recognized for its rubber traction equipment, which it markets under the name “Soucy.” Its many products are destined for the recreational vehicle, agricultural, industrial, and defence sectors. Its project involves manufacturing and acquiring strategic equipment, including circular presses, extrusion equipment and press cells.

“SMEs are at the core of community development and are part of our government’s economic growth plan. That’s why I’m delighted and proud of CED’s support for Soucy International’s project. Thanks to our support, we are helping our workers and Quebec and Canadian SMEs to be well-equipped to rebuild our economy,” said Ferrada.