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Premier Tech Announces a 45.9 Million Dollar Investment in Innovation

Premier Tech is pleased to announce a 45.9 million dollar investment in Innovation in the presence of the Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec. This announcement follows the signature of a 8.3 million dollar refundable contribution agreement between Canada Economic Development and Premier Tech.

Premier Tech’s new three-year Innovation, Research and Development (IR&D) program, named IDEE – Innovation and Development for Elevating Exportations – will allow the company to accelerate the technological and commercial progression of its three Groups through 24 distinct IR&D initiatives. The IDEE program represents a total investment of 45.9 million dollars by Premier Tech. Supported by the refundable contribution received from Canada Economic Development, the program will promote the creation of 45 Canadian jobs, mainly in Quebec, in the Rivière-du-Loup area.

“Through the years, Premier Tech was able to identify promising development niches and to implement a unique and unequalled IR&D capacity in its three core industries at the international level. Our continued and sustained investments in Innovation have fueled our commercial successes and allowed us to record an annualized growth rate of 11.5% over the last 25 years. This new partnership with Canada Economic Development will give us the latitude to fully leverage our Innovation capacities as well as the potential of the business sectors targeted by IDEE,” said Bernard Bélanger, Chairman of the Board and Chief Executive Officer of Premier Tech.

Source: Premier Tech