The government of Quebec grants, through the ESSOR program, a loan of $6 million to the company Mecaer America so that it can acquire equipment and machinery in order to carry out contracts in the defense sector. This project is valued at $21.2 million.

The Minister for the Economy, Minister responsible for the Fight against Racism and Minister responsible for the Laval region , Mr. Christopher Skeete, made the announcement today.

Mecaer America, which manufactures aerospace products, wants to achieve greater production capacity and develop new ones through this acquisition. This modern equipment will enable it to honor its new manufacturing contracts for actuators and collars for the landing gears of military aircraft, particularly for American defense. These investments will result in an increase in the number of employees and generate economic spinoffs in related Quebec sectors.

Quotes:

"Increasing the performance of a company involves major investments and improving the means of production, and Mecaer America understands this well. We want businesses in our strategic sectors to invest massively, like them, in their productivity, and for our part, we will be there to support them."

Christopher Skeete, Minister for the Economy, Minister responsible for the Fight against Racism and Minister responsible for the Laval region

"Mecaer America contributes to diversifying Quebec's aerospace industry, an objective of the Quebec Aerospace Strategy - Horizon 2026. The support of our ministry will allow the company to highlight its expertise internationally and to break through new markets."

Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Minister responsible for Regional Economic Development and Minister responsible for the Metropolis and the Montreal region

Highlights:

Mecaer America specializes in the integration, design and production of landing gear systems for airplanes and helicopters.

Managed by Investissement Québec as a government agent, the ESSOR program is intended for Quebec companies seeking financing to accelerate the completion of an investment project, increase their productivity through a technological transition or the acquisition of new technologies, reduce their environmental footprint, notably through the adoption of clean technologies, and increase their presence in global supply chains.

The Quebec Aerospace Strategy (SQA) - Horizon 2026 was launched on February 7, 2022 with the aim of promoting the recovery of the Quebec aerospace industry, improving its resilience, ensuring its long-term growth and propel all value chains towards growing markets. With a financial framework of $334 million, which will be invested by 2024, the SQA is structured around three areas of intervention: designing the aerospace of tomorrow through innovation, diversifying the industry as well as that strengthen value chains and propel them internationally.