26 October 2013
Laboratoire M2 Receives $400,000 in Financial Assistance
Laboratoire M2 received $400,000 in financial assistance from the Québec government in support of the firm’s research-and-development investments. The Sherbrooke-based company, which specializes in formulating and producing natural and biodegradable disinfectants and cleaners, will inject $2.7 million into R&D by 2016.
Laboratoire M2 plans to develop and market five new products and applications based on its Thymox technology, including disinfectant wipes for dairy cow udders and surface-cleaner wipes.
Financial assistance from the Programme d’appui au développement des secteurs stratégiques et des créneaux d’excellence (program to support the development of strategic sectors and niches of excellence) does not have to be repaid. The funds will be used to create four jobs and consolidate the ten or so existing positions.
“The assistance from the Québec government is appreciated and will help increase our competitiveness and give us even more of an edge in the disinfection and biosecurity markets, both here and abroad,” said Serge Auray, President of Laboratoire M2.
The announcement was made by Réjean Hébert, Minister of Health and Social Services and Minister responsible for Seniors and the Estrie region, who was accompanied by Serge Cardin, MNA for Sherbrooke, on behalf of Élaine Zakaïb, Minister for Industrial Policy and the Banque de développement économique du Québec.
Sources: Government of Québec and La Tribune
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