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$230,000 IN FINANCIAL SUPPORT                                       Editor: Nancy Nourse 

Date: December 21, 2011  Region: Memphremagog

pierre reidOn behalf of Sam Hamad - Minister for the Economic Development, Innovation and Exportation and the Minister responsible for the Capitale-Nationale region, Deputy Pierre Reid (Orford) announced non-refundable financial support of $27,121 for G-SPEK Inc. for a project valued at $227,120. This financial assistance will make it possible for the company to manufacture, through sub-contracting, the sealing strips for a large client in the automobile industry. G-SPEK Inc. is a company specializing in outsourcing services for active manufacturing companies in the automobile industry. Its services include inspection, preparation, completion, assembly and parts repair.

“The world economic crisis has greatly affected the automotive industry and that crisis has been reflected on several companies in Magog. This project will enable G-SPEK Inc. to outsource to acquire new contracts and to diversify its markets. It also confirms that Magog is beginning to revive itself through the creation of industrial jobs. This funding will also lead to positive spillover for the network of subcontractors in the area. This investment aligns perfectly with the development efforts in the automotive industry in the Magog area”, declared Deputy Reid.

Mr. Hamad added that the economic development of Quebec depends on what is happening in the outer regions and, by investing in companies wishing to establish new projects, the government contributes to making Quebec a prosperous and creatively rich region. This support by the Quebec government will allow G-Spek Inc. to create nearly a hundred jobs. This is excellent news for Magog which was severely affected by the closure of several companies.

“We have collaborated for more than five years with Waterville TG, a leader in the manufacture of automotive seals. Our company distinguishes itself through the quality, flexibility and the speed of execution of its services. Obtaining the ability to improve on subcontracting offers will lead to interesting growth possibilities for our company”, added Eric Graveson - President of G-Spek Inc.

For more information on the programs and the services of the Ministry for Economic Development, Innovation and Exportation, visit its new Website - more complete, easier to consult and more effective at www.mdeie.gouv.qc.ca.



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