Repayable contributions will be used to expand factories, acquire manufacturing equipment.
DRUMMONDVILLE, Que. — Two subsidiaries of the Soucy Group – Soucy International Inc. and Soucy Techno Inc. – have been awarded $9 million through the Canada Economic Development’s Quebec Economic Development Program to move forward with investments in new product development and productivity enhancement.
Soucy International Inc. will receive $7 million to design and manufacture production equipment for the development of new products for the agricultural and defence sectors.
Founded in 1978, Soucy International Inc. employs 539 people and specializes in the moulding, stamping and thermoforming of rubber, metal and plastic products. Initially a manufacturer of snowmobile tracks for Bombardier, the company has become known for its SoucyTrack rubber track systems.
The project will develop new traction products and different track models for the agricultural and defence sectors. It involves building a rubber track test centre, investing in the development of new track models, designing and manufacturing production equipment and expanding two existing plants.
Soucy Techno Inc., a manufacturer of rubber compounds founded in 1984, will use a $2 million repayable contribution to expand its factory and for the acquisition and manufacture of equipment to increase capacity and productivity. The majority of its plastic and rubber compounds are sold into the Ontario and US markets.
Its project will improve production capacity and productivity by automating machinery and creating a centre of excellence. The contribution will be used to cover a portion of the costs of the plant expansion and the acquisition and manufacture of an automatic stacker, a rubber and plastic weighing system, a calendering line and silos and air tanks.
Both projects represent a total investment of $107.8 million.