Feds distribute $77.8M to three manufacturers
Funding to aid plant and tech upgrades, job creation.
REGINA — The federal government has been busy this week doling out funding to support manufacturers in three provinces.
In Regina, steel maker EVRAZ North America Inc. is picking up a $40-million investment for a $112.6-million upgrades project at its mills in the city and Red Deer, Alta. to serve the energy sector’s tubular goods needs, where there are shortages because the US tariffs on steel and aluminum.
The project will add 35 jobs.
EVRAZ North America makes steel plate and coil, small- and large-diameter pipe, and oil and gas well tubing.
In Joliette, Que., Cryos Technologies, a manufacturer of postural assessment and correction products, has received a $300,000 repayable loan to finalize its manufacturing automation process and increase marketing activities.
Cryos Technologies makes foot orthotics by applying automation, digitization and 3D printing.
In Charlottetown, BioVectra Inc., a biotechnology company that manufactures pharmaceutical products used in the treatment of serious illnesses, received a $37.5 million investment.
The funding will help BioVectra create more than 150 new jobs and support the company’s $144.6 million project to expand its facilities in Charlottetown and Windsor, NS.