$11 million government funding for Sherbrooke parts plant

Record staff
Staff Writer

The governments of Canada and Quebec have kicked in nearly $11 million in financial contributions to aluminum auto parts manufacturer Verbom to support a modernization project at its sheet metal processing plant in Sherbrooke. The project will help create around 100 jobs in the region. The announcement of the financing package was made Friday by Minister of International Development and La Francophonie and Compton-Stanstead MP Marie-Claude Bibeau and Quebec Minister for Small and Medium Enterprises, Stéphane Binette. Canada’s share of the new financing will be $4.8 million while the Government of Quebec is providing a loan of $6.1 million through the ESSOR program. Verbom, founded in 1978, is a supplier of metal tooling and component services for the automobile industry. The company specializes in aluminum thermoforming.