Versadrill selected as part of the PerforME strategy

VersaDrill wants to create a new geotechnical drill for the construction industry. To do so, the company was selected among 36 others in the province of Quebec as part of the government’s “PerforME” strategy, aiming at simplifying access to required capital for projects.

The Ministry of Economic Development, Innovation and Export Trade has selected VersaDrill’s project – the only one in Abitibi-Témiscamingue – in its strategy to accelerate high-performing business projects.

“The drills manufactured by VersaDrill are well-known in the mining industry; we export them to 16 countries. Seeing how this industry is currently slowing down, we wanted to innovate with a new geotechnical drill with its strength directly on its head, making it an important player in the construction industry,” explains Mario Rouillier, president of Groupe Rouillier, which VersaDrill is part of.

“We opted for geotechnics to save jobs, because we know there’s a demand all around the world. For now, we are mainly focusing on the Eastern U.S. regions, because we have a partner there.”

With help from the government, the company will be able to develop this new drill and, moreover, to support its marketing. With this innovation, VersaDrill was able to keep 10 employees, and the company’s executives are hoping to double this figure if the mining industry gets back on its feet, also offering up to 60 jobs in the region.

“We still have to wait and see the financial support the government has planned for us, but we have already started moving forward with the project,” says M. Rouillier. In addition, VersaDrill will receive personalized coaching from an economic development advisor at the Ministry.

Overall, this project by the Ministry of Economic Development, Innovation and Export Trade has already allowed 28 projects to create 1000 jobs in the province, as well as allow for business investments

Read the story here: L'Écho Abitibien (French only)

Versadrill selected as part of the PerforME strategy