Custom Diamond International receives $350,000 for expansion
Vimy Liberal MP Annie Koutrakis has announced a $350,000 repayable grant to Custom Diamond International, a Laval-based company specialized in the manufacture of stainless-steel cabinets and containers for restaurants, as well as medical and laboratory-based industries.
Koutrakis made the announcement last week on behalf of Minister of Economic Development and Official Languages Mélanie Joly.
In Laval since 1997
Established in Laval in 1997, Custom Diamond International (CDI) is part of the family-owned Diamond Group, which has been one of North America’s main manufacturers of restaurant industry stainless-steel containers for more than 85 years.
In more recent years, CDI also began designing, manufacturing and supplying displays, medical and laboratory equipment, as well as custom stainless-steel products for the retail sector.
In Laval, the metal products industry includes a number of dynamic businesses with innovative ideas whose work is adding to the region’s reputation across the country. Challenged by the economic realities created by the COVID-19 pandemic, the federal government says these and other SMEs are now poised to rebound.
“The government of Canada recognizes the need to intervene based on the strengths and assets present in each region,” Koutrakis said in a statement announcing the subsidy to CDI. “As such, CED’s support for Custom Diamond International will enable Laval to position itself at an advantage to participate in the coming recovery.”
‘CED’s support for Custom Diamond International will enable Laval to position itself at an advantage to participate in the coming recovery,’ says Koutrakis
“The Government of Canada has a mission to accompany the country’s businesses and regions into tomorrow’s economy and to help them seize the business opportunities that will arise,” said Joly, who is also the minister responsible for the six regional development agencies (RDAs), including CED.
“That is why we are providing our support to the specific assets of Quebec’s different regions, such as here in Laval. They will be essential elements in ensuring an inclusive recovery and in creating good jobs in all of our communities.”
According to the government, the repayable loan will allow Custom Diamond International to acquire and install new machinery and manufacturing equipment, including three CNC production machines with a generator to complete more complex tasks more quickly.
The government says CDI’s project, aimed at enhancing business productivity, will lead to the creation of 20 jobs. With its 12 regional business offices, Canada Economic Development has a mandate to accompany businesses, while supporting organizations in all regions across Quebec to help the growth of their economies.
The subsidy to Custom Diamond International was granted under CED’s Regional Economic Growth through Innovation program, which aims to support the development of Quebec SMEs.