Canada's New Government Grants $100,000 in Funding to Diarough Canada Inc.

News Release

Rimouski, Quebec, March 28, 2007 The Honourable
Jean-Pierre Blackburn, Minister of Labour and Minister of
Canada Economic Development, today announced the awarding of
$100,000 in non-repayable funding to Diarough Canada Inc. for the
acquisition and installation of automated diamond cutting equipment for its
Matane factory.
This new funding will serve to help the enterprise reduce its manual faceting
and brillianting operations. This project is in line with the commitment of
Canada's new government to facilitate and bolster the growth of Quebec's small
and medium-sized enterprises and help them become more competitive in the
international marketplace. By enhancing its productivity,
Diarough Canada Inc. will be better able to adequately meet the growth
needs of its North American market. Moreover, the installation of a new
computerized unit of production will lead to the creation of 10 new jobs
and the maintenance of 30 existing positions in the Matane area.
"Canada Economic Development provides support to
Quebec's businesses and regions in order that they may thrive and actively
contribute to the economic vitality of their communities.
Diarough Canada Inc. is a key player in the development of the
Canadian diamond industry. This contribution from the Agency to the diamond
cutting sector will help place Canada, and the Matane area in particular, at the
international forefront of this industry," stated Minister Blackburn.
"This support from Canada Economic Development will help us make
our diamond cutting factory competitive and enable
Diarough Canada Inc. to pursue the expansion of its market for
Canadian diamonds, cut and polished right here in Canada," noted
Saurin Parikh, the President of Diarough Canada Inc.
The Diarough Canada Inc. factory in Matane, which has been in
operation since February 2005, is Quebec's first and only diamond-cutting
plant and the only one in Canada with certification of origin. Canada currently
ranks as the world's third largest diamond producer and is expected to climb to
first position by the year 2010.
-30-
Sources:
Claudie LamontagneCommunicationsCanada Economic
DevelopmentTel.: 418-722-3282 or 1-800-463-9073E-mail: claudie.lamontagne@dec-ced.gc.ca
Roxane MarchandPress SecretaryOffice of the Honourable Jean-Pierre
BlackburnCanada Economic Development
Tel.: 819-953-5646Cell.: 613-816-5094E-mail: roxane.marchand@hrsdc-rhdcc.gc.ca

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Canada's New Government Grants $100,000 in Funding to Diarough Canada Inc.

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