Press Releases

Investing in Research and Innovation in Saint-Hubert - Ministers Sam Hamad and Nicole Ménard Announce Funding for Cicame Énergie’s $8.7-million Expansion, a Project That Will Create 30 New Jobs

Québec City, June 20, 2012 - Sam Hamad, Minister of Economic Development, Innovation and Export Trade and Minister responsible for the Capitale-Nationale region, and Nicole Ménard, Minister of Tourism and Minister responsible for the Montérégie region, today announced two non-refundable Québec government contributions totalling $982,000 to support Cicame Énergie's $8.7-million expansion. Investissement Québec will inject $825,000, while the Ministère du Développement économique, de l'Innovation et de l'Exportation contributes $157,000 through its Program for the Attraction and Retention of Research Investment (PARIR).

The expansion will boost production capacity at the Saint-Hubert plant thanks to a new 100,000-square-foot addition that includes a state-of-the-art research laboratory. The site can now accept a new contract from the parent company to manufacture insulating gloves. The project will create 30 jobs.

"With this funding, our government is backing a company ready to invest in the cutting-edge facilities it needs to sustain growth while creating new jobs," Ménard said. "The spinoffs from this initiative will be a definite plus for our region since Cicame Énergie is a subsidiary of the French company Sicame Group, a major global player in its field."

"Our government firmly believes that supporting R&D is key to making Québec more productive and competitive, fostering entrepreneurship and helping our businesses grow, prosper and create jobs," Hamad said. "Our economic development depends on our ability to create an environment conducive to investment and pivotal projects like the Cicame Énergie expansion."

Since 2000, Cicame Énergie has manufactured accessories and connectors in Québec for the energy transmission and distribution industries. Its main clients are North American utilities, including Hydro-Québec. Cicame Énergie is a subsidiary of Sicame Group, a French multinational active in 17 countries that designs and manufactures equipment for constructing and maintaining electrical grids.

"Thanks to the support of Investissement Québec and the Ministère du Développement économique, de l'Innovation et de l'Exportation, our parent company is scaling up Québec operations," said Cicame Énergie General Manager Franck Willier. "We are well positioned to become Sicame Group's North American hub for sales, production, development and manufacturing for a range of products, including insulating gloves."

About Investissement Québec

Investissement Québec's mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments, to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment

About the 2010-2013 Québec Research and Innovation Strategy (QRIS)

Entitled Mobilize, Innovate, Prosper, the updated Québec Research and Innovation Strategy seeks to strengthen scientific research in Québec by stepping up innovation, new product development and collaboration to better position Québec businesses in leading markets. It has put Québec resolutely on a course to a green economy, the economy of tomorrow.

Under QRIS, including the 2007-2010 program, Québec will have invested $2.3 billion in research and innovation by 2013, for a total government outlay of some $11.5 billion once tax credits and core ministry funding are added.

- 30 -

To receive Investissement Québec press releases in real time, subscribe to the following RSS feed:

https://www.investquebec.com/feeds/PressReleases/PressReleases.xml

Sources:

Harold Fortin
Press Officer

Office of the Minister of Economic Development, Innovation and Export Trade and Minister responsible for the Capitale-Nationale region

418 691-5650

Gabriela Quiroz
Press Officer
Office of the Minister of Tourism and the Minister responsible for the Montérégie region

450 672-1885

Information:

Jean-Pierre D'Auteuil

Media Relations Officer