Belt‑Tech Products is modernizing its facilities to capture new markets
News Release
$6.6 million investment project in Granby
Granby, January 16, 2018 – The Government of Quebec and the Government of Canada have granted $1,787,500 in financial assistance to Belt‑Tech Products to support a modernization project evaluated at $6.6 million, which will create around 30 jobs in the Montérégie region.
The Government of Quebec has extended a $1.5 million interest-free loan to the manufacturer through the ESSOR program, while Canada Economic Development for Quebec Regions (CED) has awarded the company a $287,500 repayable contribution. Investissement Québec has also provided Belt‑Tech Products with a $2,475,000 loan guarantee.
The initiative includes the acquisition of specialized equipment such as a textile dyeing machine and looms, as well as the integration of new technologies to the business’s facilities in Granby. The project will help Belt‑Tech Products increase the production of seat belts for the automobile and aeronautics industries, among other things.
Nicole Ménard, Member for Laporte and Chief Government Whip, acting on behalf of Dominique Anglade, Deputy Premier, Minister of Economy, Science and Innovation and Minister responsible for the Digital Strategy, and Pierre Breton, Member of Parliament for Shefford, acting on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED, made the announcement today.
Quotes
“The Government of Quebec enthusiastically supports the growth of this dynamic enterprise, which is helping strengthen the manufacturing sector here in the Montérégie region. With this major modernization project, Belt‑Tech Products is giving itself the best possible odds for taking full advantage of business opportunities that lie ahead.”
Nicole Ménard, Member for Laporte and Chief Government Whip
“I am very pleased about the Government Canada’s financial support for Belt-Tech Products, which is noted for its dynamism, audacity and innovation. This company is the pride of our region. The contribution will help it continue to develop and generate economic growth and high-quality jobs.”
Pierre Breton, Member of Parliament for Shefford
“I am delighted to see that this project will create some 30 high-quality jobs in Montérégie. We are proud to support initiatives like this one, which is helping stimulate and diversify our local economy. Thanks to the success of innovative manufacturers like Belt‑Tech Products and the ambition of our entrepreneurs, we can ensure the vitality of our region.”
Lucie Charlebois, Minister for Rehabilitation, Youth Protection, Public Health and Healthy Living and Minister responsible for the Montérégie region
“To remain competitive, manufacturers have to build on innovation and invest in the acquisition of leading-edge equipment. Belt‑Tech Products fully understands this issue, and we are proud to support the project, which will increase the company’s productivity and help it capture new markets.”
Dominique Anglade, Deputy Premier, Minister of Economy, Science and Innovation and Minister responsible for the Digital Strategy
“By awarding a contribution that is helping Belt-Tech Products acquire cutting-edge equipment, the Government of Canada is standing by its commitments and helping businesses expand, innovate and export their products so that they can create high-quality jobs and ensure the prosperity of the Canadian economy.”
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED
“Belt-Tech Products, a very innovative manufacturer, invests in the development of new products and new markets. That is why Investissement Québec has been taking part in its projects for many years. Because of its productivity, Belt-Tech Products is meeting the needs of an ever-more diversified clientele and making a major contribution to the region’s economy, in line with our mission.”
Pierre Gabriel Côté, Chief Executive Officer, Investissement Québec
“I am proud to inform you of Belt-Tech’s outstanding growth. Over the past few years, we have enhanced our position on North American markets, thanks in part to support from the MESI regional directorate, Investissement Québec, CED and Export Development Canada, as well as many other institutional and governmental partners. The additional production capacity, combined with our ongoing priority of improving our manufacturing process, keeps us competitive in global markets. We will continue to upgrade our manufacturing processes, and support from various levels of government will always be an important part of our development.”
Robert Bélanger, Chief Executive Officer, Belt‑Tech Products
Quick Facts
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Founded in 2005, Belt-Tech Products designs and manufactures seat belts for the automobile, industrial and aviation sectors. More than 50% of aircraft around the world use seat belts manufactured by this business.
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The goal of the ESSOR program is to support investment projects in Quebec with a view to enhancing competitiveness and productivity, creating jobs and ensuring sustainable development.
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The Government of Quebec has provided $825 million in funding for businesses from Investissement Québec’s own funds and the Fonds du développement économique to support the innovative manufacturing sector (website in French only) across Quebec.
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CED is one of the six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development. For more information on CED’s key directions until 2021, consult Strategic Plan 2021 or visit www.dec-ced.gc.ca.
Contacts
Ministère de l’Économie, de la Science et de l’Innovation (MÉSI)
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Canada Economic Development for Quebec Regions
Investissement Québec
Sources:
- Louise Fournier
Constituency Office of the Member for Laporte and Chief Government Whip
Tel.: 514-567-6972 - Alexandra Régis
Press Secretary, Office of the Minister of Rehabilitation, Youth Protection, Public Health and Healthy Living, and Minister responsible for the Montérégie region
Tel.: 418-266-7181 - Gabrielle Tellier
Press Secretary, Office of the Deputy Premier, Minister of Economy, Science and Innovation and Minister responsible for the Digital Strategy
Tel.: 418-691-5650 - Karl W. Sasseville
Press Secretary, Office of the Minister of Innovation, Science and Economic Development
Tel.: 343-291-2500
Information:
- Jean‑Pierre D’Auteuil
Media Relations Officer, Communications Directorate, Ministère de l’Économie, de la Science et de l’Innovation
Tel.: 418-691‑5698, ext. 4868
Cell: 418-559-0710 - Isabelle Fontaine
Senior Director, Public and Government Affairs, Investissement Québec
Tel.: 514-876-9359 - Media Relations
Canada Economic Development for Quebec Regions
Tel.: 514-283-7443
Email: dec.media.ced@canada.ca
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