Investissement Québec helps finance the Bridgestone Plant’s Modernization Project in Joliette.
Joliette, October 18, 2013 - The Minister of Finance and the Economy, Nicolas Marceau, accompanied by Véronique Hivon, the MNA for Joliette, Minister for Social Services and Youth Protection and Minister responsible for the Lanaudière region, today announced a non-refundable contribution of $3 million to Bridgestone Canada for a $38.4-million capital plan to increase productivity at the company's Joliette plant.
"Tire manufacturing is an important industry for the Lanaudière region's economy. However, Bridgestone's Joliette plant is facing significant competition from North American manufacturers. If it is to continue winning manufacturing contracts and ensure that its operations can be sustained in the long run, the Joliette facilities have to be modernized. By backing the company's capital plan, which will run until 2015, the Québec government is helping secure the plant's future in Joliette and enabling it to position itself favourably in relation to its competitors," said Nicolas Marceau.
"Bridgestone currently employs almost 1,300 people and is a major economic player in Lanaudière. This capital plan will consolidate jobs here in Joliette and contribute to maintaining suppliers' activity levels in the region and throughout Québec. Bridgestone's upgrading project will have a beneficial effect in shaping the local economy, and our government is very proud to support it," added Véronique Hivon.
The investments planned by Bridgestone will be used to automate certain tasks and ensure better quality control. In addition, the new equipment will reduce the plant's greenhouse gas emissions. Overall, the capital plan will increase the plant's productivity while cutting production costs.
"For several years now, we have been making major investments in our Joliette plant to enhance its competitiveness. This vote of confidence from the Québec government will help us consolidate our reputation for superior productivity and ensure the success of our upgrading initiatives," noted Robert Verreault, Plant Manager of Bridgestone Canada's Joliette facility.
"Québec's Economic Policy – Putting Jobs First and the new Industrial Policy tabled by the government last week stress the importance of boosting productivity and include concrete measures to promote the modernization of businesses and their equipment. These policies clearly show our government's determination to address this issue," concluded Marceau.
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