04:40:30 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



IBM CDR (CAD Hedged)
Symbol IBM
Shares Issued 700,000
Close 2024-04-26 C$ 25.95
Market Cap C$ 18,165,000
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Globe/CP say IBM scores nearly $100M in gov't funding

2024-04-29 08:15 ET - In the News

The Globe and Mail reports in its Saturday edition that the federal and Quebec governments are investing almost $100-million to increase the country's semiconductor manufacturing capability. A Canadian Press dispatch to The Globe reports that on Friday in Bromont, Que., Prime Minister Justin Trudeau announced that Ottawa will invest $59.9-million to help fund IBM's semiconductor packaging facility in the town. The investment will also go toward the Bromont-based MiQro Innovation Collaborative Centre, a research group that tries to expedite the commercialization of components in digital technologies. The world, Mr. Trudeau said, is looking for dependable sources of products that spur economic growth, and he said semiconductors are one of the many products Canada can be trusted to deliver. He said, "As we are in terms of energy, quantum computing, robotics these are things that the world is increasingly looking for." Quebec, for its part, is offering IBM Canada $38.9-million in loans to help it buy equipment, increase capacity at its Bromont plant and create a new generation of switches. Within the Quebec funding envelope is a $32-million "forgivable" loan for new equipment to package semiconductor circuitry.

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