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Tekna receives $21.1 million investment from the Governments of Canada and Quebec

Canada Makes applauds the announced investment of  $21.1 million to help scale up TEKNA and create 170 new jobs as well as promote Canadian innovation.

Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced that the federal government will invest up to $21.1 million in advanced manufacturing company TEKNA Plasma Systems Inc. Minister Bains was joined by the Honourable Marie-Claude Bibeau, Minister of International Development and La Francophonie and Member of Parliament for Compton–Stanstead. Luc Fortin, Member for Sherbrooke, Minister of Families and Minister responsible for the Estrie region—on behalf of Dominique Anglade, Deputy Premier of Quebec, Minister of Economy, Science and Innovation, and Minister responsible for the Digital Strategy, and François Blais, Minister of Employment and Social Solidarity—announced a $9.4-million investment from the Government of Quebec. The total value of the project is up to $128.4 million.

“Quebec is a leader in advanced manufacturing. The sector will employ close to 1.7 million Canadians and contribute $183 billion, or 10 percent, to Canada’s GDP in 2018. Today’s investment will create 170 jobs in Sherbrooke and will help TEKNA scale up to reach new markets and compete globally. It is investments like this one that will position Canada as a global innovation leader today and tomorrow.” 
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.

“By creating products that didn’t even exist yesterday, TEKNA is contributing to the manufacturing revolution brought on by 3D printing and Industry 4.0. We are writing tomorrow’s history today. This investment project, though unprecedented, builds on 28 years of engagement with excellence and proves strategic for the company’s development, growth and prosperity. We are extremely proud that our shareholder Arendals Fossekompani ASA supports the choice of Sherbrooke, the city where TEKNA was founded, as the place to carry out this promising plan.”
– Luc Dionne, Chief Executive Officer, TEKNA Plasma Systems Inc.

This investment in advanced manufacturing will help create 170 jobs in Sherbrooke, will help attract foreign direct investment, and will help TEKNA produce innovative metallic powders used in additive manufacturing and electronic products. Additive manufacturing, also known as 3D printing, allows for the design of complex metal parts that are lighter and more efficient and environmentally friendly than conventionally manufactured parts.

TEKNA’s project will help the company increase its total manufacturing production capacity and footprint in Sherbrooke and will advance next-generation manufacturing capabilities in Canada. It will also increase R&D, stimulate collaboration with Canadian post-secondary institutions, and help strengthen the Montréal–Sherbrooke advanced manufacturing cluster and supply chain.

About TEKNA Plasma Systems
TEKNA, a subsidiary of Arendal Fossekompani ASA (AFK: NO), has been conducting manufacturing of industrial plasma systems and metal powders for more than 25 years, based on their strong R&D leadership. Today, TEKNA (headquartered in Canada) is a world-renowned actor for the quality of its products and its ability to respond quickly to the growing demands of its customers.

Minister Bains delivers keynote address at CME’s i2030 National Manufacturing Summit

CME maps path to double Canada’s manufacturing output and value-added exports by 2030

OTTAWA, ONTARIO – In a global economy that is increasingly complex and diversified, Canadian companies must be more innovative than ever. Investing in our people, developing new technologies and supporting the growth of innovative companies will help diversify Canada’s economy, open access to new markets and create well-paying jobs for Canadians.

This is the message the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, delivered in a keynote address on Canada’s Innovation Agenda to an audience of business leaders and policy-makers at the i2030 National Manufacturing Summit.

In his remarks, Minister Bains emphasized the need for both government and the private sector to make smart investments in three key areas:

  • People: Expand work-integrated learning programs, such as internships, apprenticeships and continuous learning opportunities, for Canadians at every stage of their careers-from new graduates up to the highest-ranking executives.
  • Technology: Set big-horizon goals and create broad-based partnerships to fund ambitious research projects that solve complex, large-scale problems and spark commercial opportunities for the private sector.
  • Companies: Leverage the buying power of government, as the single-largest purchaser of goods and services, to support the growth of innovative companies that have the potential to be globally competitive.

Minister Bains applauded Canadian Manufacturers & Exporters-the organizer of the summit-for its submission for the Innovation Agenda which focused on accelerating innovation, increasing investments and helping manufacturers reduce their carbon footprint.

Minister Bains concluded by issuing a challenge to the manufacturing community to invest more on people, companies and technologies that will propel our country into a more prosperous future.

CME reports released at the summit

Industrie 2030 Action Plan: Manufacturing Growth, Innovation and Prosperity for Canada
Manufacturing Growth, Innovation and Prosperity for Canada is an action plan resulting from the input of more than 1,250 Canadian manufacturers and exporters. The plan defines specific recommendations to overcome challenges and create a roadmap for the future of manufacturing, to strengthen its footprint across the country, and to drive growth, innovation, wealth creation and jobs. Core recommendations include:

  • Building a strong labour pool and skilled workforce;
  • Accelerating adoption of advanced manufacturing technologies;
  • Fostering innovation, commercialization and new product development;
  • Creating a competitive business environment in Canada; and
  • Increasing access to domestic ‎and foreign markets.

Click here to view the report

Management Issues Survey 2016
CME’s biannual Management Issues Survey (MIS) is one of our most important tools for taking the pulse of the manufacturing community. It provides valuable insight into the mindset, aspirations and concerns of manufacturers – both in terms of their day-to-day struggles as well as their longer-term strategic goals. In total, 553 companies responded to CME’s 2016 MIS. There was strong representation from across Canada, and a majority of businesses operated in more than one province.
Click here to view the report

Quote
“Our government knows that Canada’s manufacturing sector is a cornerstone of the economy and can lead the world, as long as we have the right plan for growth through innovation. New technologies are driving modern manufacturing by lowering production costs, increasing productivity and allowing for the creation of new innovative products. Through initiatives like Canada’s Innovation Agenda, we can create and shape the markets that have the potential to unlock a world of opportunity for everyone and strengthen the middle class by creating the well-paying jobs of tomorrow.”

– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development

Quick facts
The i2030 National Manufacturing Summit attracts more than 300 stakeholders interested in understanding the current global trends in manufacturing and shaping the future direction of public policies, regulations and programs in Canada.

The findings of a six-month nation-wide consultation on Industrie 2030-Canadian Manufacturers & Exporters’ national initiative aimed at creating a roadmap for doubling value-added manufacturing output and exports in Canada by 2030-were released prior to the summit and shared with participants.
The manufacturing sector directly accounts for more than 10 percent of Canada’s GDP and employs 1.7 million Canadians.

Canadians participated enthusiastically during a summer of public engagement on the federal government’s Innovation Agenda: 28 round-table discussions and thousands of digital interactions yielded over 1,300 ideas.

Associated links
Innovation and Prosperity for Canada
Canada’s Innovation Agenda
Backgrounder on the Innovation Agenda

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