16 July 2016
Mesotec Receives $1M in Financial Support from the Federal Government
Mesotec obtained a significant portion of a global $4.98M investment from the Government of Canada to support Québec’s aerospace industry.
The Sherbrooke business, which specializes in the manufacturing of structural components and aircraft engines, received an interest-free repayable contribution of $1M, in the context of its more than $12M expansion project in the Regional Industrial Park.
Future Mesotec plant in Sherbrooke Regional Industrial Park
The financial support will help increase the company’s production capacity and, in the medium term, improve its production. The federal contribution is linked to the purchase of land, construction of the building, calibration of current equipment, and acquisition of new specialized equipment.
It should be noted that Mesotec is continuing the construction of a new 65 000 sq. ft. plant along the extension of Portland Boulevard–more than twice the surface of its current facilities on Industriel Boulevard.
The Sherbrooke business, which was founded in 1977, is a provider for various major players in the aerospace industry, such as Bombardier Aerospace–maker of the CSeries–and Pratt & Whitney–which designs the engine for this aircraft series.
Mesotec is one of the 11 Québec businesses of the aerospace sector to be sharing the nearly $5M envelope, granted through the Quebec Economic Development Program (QEDP) of Canada Economic Development for Quebec Regions (CED).
Source: Government of Canada
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