DELTA, BRITISH COLUMBIA--(Marketwired - April 23, 2014) - Department of Industry
Today, the Honourable Kerry-Lynne D. Findlay, P.C., Q.C., Member of Parliament for Delta-Richmond East and Minister of National Revenue, on behalf of Industry Minister James Moore, announced a $4.4-million investment in Avcorp Industries Inc.'s latest research and development (R&D) program. The project will develop new technologies in metal bonding and aircraft parts manufacturing. The contribution, made through the Strategic Aerospace and Defence Initiative (SADI), will allow Avcorp to realize greater market opportunities.
- Through SADI, the Government of Canada is making this repayable contribution to support R&D by Avcorp. The company is a leader in the design and fabrication of composite and metal-bonded aircraft structures.
- With this investment, Avcorp will develop advancements in metal-bonding technology, which it will use to manufacture new aircraft components, such as structural panels, rudders and wing parts. This multi-year project will help the company to realize a competitive advantage through cost-effective advanced manufacturing.
- The manufacturing, final assembly and testing of all components will be done in Canada.
- The project will provide work for Avcorp's suppliers as well as valuable hands-on experience for the university students selected to work on the project.
- SADI provides repayable contributions to support R&D projects in the aerospace, space, defence and security sectors. Since April 2007, the Government of Canada has invested $1.15 billion through SADI to fund advanced R&D projects. SADI helps firms develop new technologies, attract and retain highly skilled workers, and collaborate with universities and colleges.
- On March 21, 2013, Economic Action Plan 2013 announced the creation of the Technology Demonstration Program, fulfilling a key recommendation of Beyond the Horizon: Canada's Interests and Future in Aerospace, a report of the Aerospace Review that was led by the Honourable David Emerson.
- Economic Action Plan 2013 announced stable funding of close to $1 billion over five years for SADI, and the government subsequently implemented program enhancements.
"Canada's aerospace industry directly employs 73,000 people in high-skilled jobs and contributes more than $12 billion to the economy. By investing in Avcorp's advanced manufacturing project, we are helping to ensure that our aerospace industry remains a world leader."
- Industry Minister James Moore
"This is great news for our region and for B.C. aerospace. By supporting Avcorp's advanced manufacturing R&D, the federal government is helping the company to grow its industry presence, partner with universities and expand its network of Canadian suppliers. That means jobs and economic opportunities for our community."
- MP for Delta-Richmond East and Minister of National Revenue Kerry-Lynne Findlay
-- Industry Canada's Industrial Technologies Office
-- Strategic Aerospace and Defence Initiative
-- Avcorp Industries Inc.
FOR FURTHER INFORMATION PLEASE CONTACT:
Office of the Minister of Industry
Source: Industry Canada