The federal government has announced funding for two Lower Mainland companies as part of its Steel and Aluminum Initiative.
Menzies Metal Products will receive $663,921 to purchase to purchase two pieces of equipment, install a resource system, and adopt lean management practices. Reliable Tube Inc. will receive $1 million to upgrade its manufacturing capacity with a tube laser-cutting machine.
Delivered by regional development agencies, the Regional Economic Growth through Innovation (REGI) Steel and Aluminum Initiative provides SME steel and aluminum manufacturers and users with non-repayable contributions for projects to enhance productivity, increase competitiveness by adopting new innovative technologies, and create more highly skilled jobs. In Western Canada, this funding is delivered through Western Economic Diversification Canada.