Photo: Silvet Ali
From left to right: Vimont MNA Vincent Auclair, Hydrolico Inc. president ichard
Désy, Hydrolico International co-founder Daniel Strati, and Ste-Rose councillor
Denis Robillard
PHOTO

Laval-based Hydrolico Inc. was celebrating last Thursday following an announcement of a $122 250 investment into the growing company from the Quebec Minister of Economic Development, Innovation, and Export Trade, Clément Gignac.
Speaking on behalf of Gignac, Vimont MNA Vincent Auclair was on hand December 10 to congratulate the company for remaining strong through the economic storm. “Our government is helping companies develop their Quebec market share, as they should be ready for the upturn,” stated Auclair. “The Hydrolico project is a way of ensuring the development of the region and ensures its competitiveness.”
Growing business
Hydrolico President Richard Désy thanked the Quebec government and their financial assistance in the form of a repayable loan for displaying a show of confidence in his company. “Assistance from the government is essential to improving our productivity and growth of our business,” explained Désy.
Founded in 1994, Hydrolico specializes in the manufacture of large hydraulic jacks, the distribution of hydraulic parts such as valves and cylinders, some of which are produced in the company’s Shanghai factory, and providing repair services. Hydrolico’s major customers come from the forestry, mining and transportation industries. In 2003, the company launched Hydrolico International to diversify its operations.
The funds will allow the completion of a $1 million 975 square-metre expansion project of the Laval plant which, in turn, will consolidate twenty current jobs and create five new ones as well. The company is focusing on entering new competing international markets with state-of-the-art equipment it has developed.
Heartfelt thanks
Désy began by giving a heartfelt tribute to his father, who he credits for inspiring him to open his own company growing up. “Merci papa,” he said, choking back tears. City councillor Denis Robillard, speaking on behalf of Laval mayor Gilles Vaillancourt, highlighted the familial thread in the business. “It is essential to continue the tradition of a family business here in Laval,” he said.
Auclair went on to applaud companies like Hydrolico for not succumbing to the fears of the struggling economy and scaling back, but instead choosing to thrive. “The economic problem is not a quick-fix but this is definitely a step in the right direction,” he stated. “And we always say the government is there to help the people, but today is a concrete example of that.”
The assistance was provided under the Economic projects support program (PSPE) from the office of the Quebec Minister of Economic Development. The program aims is to support investment projects and product development projects conducted by Québec businesses with an eye to increasing productivity and creating jobs. For more information, visit www.mdeie.gouv.qc.ca.