Québec to back Mecaer

Investissement Québec is funding Mecaer America to the tune of 8 million Canadian dollars

Mecaer Aviation Group (MAG) is continuing to grow. The company, based in Vergiate and a member of the Lombardy Aerospace Cluster (an international provider of landing gear, cabin comfort and flight control systems and distinctive styling for helicopters and other aviation markets) has obtained funding of CAD$8m: $3m in the form of a non-repayable grant and $5m as a loan from Investissement Québec.

The contract was signed today at the Farnborough Airshow in Hampshire, England. The event was attended by the Chair of Mecaer America Valerio Pasqua, Québec’s prime minister Philippe Couillard and the minister for the economy Dominique Anglade, accompanied by Investissement Quebec. Under the agreement, Investissement Québec will support Mecaer America, a Québec-based subsidiary of MAG, in developing new landing gear for rotorcraft and fixed-wing aircraft. The funding comes after the signing of a letter of intent, recently approved by the Council of Ministers of the Québec government, and fits in with the growth plans of Mecaer, a company with a growing focus on internationalisation and innovation through its industrial partnerships, the sourcing of new market capital, and support from the governments of the countries in which it is based.

Valerio Pasqua, Chair of the Board of Directors of Mecaer America, said: “The confidence shown in our company by the Québec government dates back a long way, from the year 2000 when Mecaer decided to buy a small manufacturing company in the sector, transforming it into a system integrator through major investments that have quadrupled its sales and boosted local employment.”

The president of the Mecaer Aviation Group Alberto Ribolla highlighted that “Mecaer is proof that to compete globally you need long-term planning and an adequate size. Our agreement with the Québec government and Investissement Québec validates our choosing North America, which is home to the world’s largest aerospace market and is a hub into which Mecaer intends to integrate itself further.” Ribolla continued: “Canada is a market with enormous potential for the Italian manufacturing industry. CETA, the bilateral EU-Canada agreement recognised as the best trade agreement ever signed by Europe, is proof of how important this market is in terms of developing new commercial routes, despite the watering-down and bureaucratisation by a very influential minority of European countries.”

The Québec delegation’s comments in Rome were also positive: “The Mecaer America project will have a number of positive impacts on the economic and social fabric of Québec,” underlined Amalia Daniela Renosto. She added: “It’s an honour to know that this dynamic company sees Québec as fertile ground in which to prosper and continue to grow, infusing new lifeblood into the already fruitful relations between Italy and Québec.”