Nova Bus announces a major investment project in factories with support of the Government of QuebecMay 10, 2017 Corporate
Nova Bus, part of the Volvo Group of Quebec, announces its intention to invest in a growth and development program. The program, which requires more than $ 90 million in investments over a six-year horizon, will modernize Nova Bus’s processes and plants to strengthen its research and development work. In support of this project, the Government of Quebec will, through Investissement Québec, acting as agent, make a non-repayable financial contribution of $ 15 million.
The Minister of Economy, Science and Innovation and Minister responsible for the Digital Strategy, Dominique Anglade, made the announcement today in company of the Minister of International Relations and La Francophonie, Christine St-Pierre, and Martin Lundstedt, President and CEO of Volvo Group.
The program includes the upgrading of the company’s Quebec plants, in particular through the automation of operations and the introduction of innovative energy-efficient processes and digital technologies. A total of 28 jobs will be created during the program, while 838 will be consolidated.
“In April 2016, $ 700 million over three years was announced to support the innovative manufacturing sector. A tour of all regions of Quebec was organized by all the players in the manufacturing industry to inform companies that the government was ready to invest with them in their modernization projects. This tour was a success. Some 2,000 companies and organizations participated and 240 modernization projects were supported for total investments of $ 2.3 billion and the creation of 4,600 jobs. So successful was the success that we decided to invest an additional $ 125 million for the innovative manufacturer in the last budget. The announcement made by Nova Bus today is another proof of this success”, said Minister Anglade.
“This demonstrates our interest in the North American market, as well as the common intent together with the Government of Quebec to help modernize facilities and integrate new technological processes to produce vehicles that meet the needs of customers and transit users”, said Martin Lundstedt, President and CEO Volvo Group.
- Founded in 1993, Nova Bus has a structural plant in Saint-François-du-Lac and two assembly plants, one in Saint-Eustache and one in Plattsburgh, in the United States. The company employs 838 people in Quebec and 285 in the United States. www.facebook.com/NovaBus
- The Government of Québec has made $ 825 million available to businesses, through the equity of Investissement Québec and the Economic Development Fund, to support the development of the innovative manufacturing sector throughout Quebec .
About Nova Bus
Nova Bus is a leading provider of sustainable transportation solutions in North America. Its portfolio includes electric buses and hybrid buses, high-capacity vehicles and integrated intelligent transport systems. As part of its Electro Mobility strategy, Nova Bus is moving forward with the electrification of key vehicle components to reduce fuel consumption and emissions. Nova Bus is part of the Volvo Group.
For more information regarding Nova Bus products and services, please visit www.novabus.com