MONTREAL — Toy producer Mega Brands Inc. is requesting C$50 million (US$48.5 million) from the province of Quebec for research and development and to buy more automation equipment.
The Montreal-based company is seeking a five-year loan, grant or combination of the two, Mega Brands said in a submission to the Quebec government's lobbyist registry.
The company competes head-on with Lego in the child's plastic construction block market and also makes games and art supplies. It has production plants in Montreal, China, Tennessee and also relies on sub-contractors.
A Mega Brands spokeswoman said the company will not release more information on its funding request until it announces fourth quarter financial results on March 1.