Danville, Quebec, April 23, 2008 – Jacques Gourde, Member of Parliament for Lotbinière–Chutes-de-la-Chaudière and Parliamentary Secretary to the Honourable Jean-Pierre Blackburn, Minister of Labour and Minister of Canada Economic Development, today announced that the firm Conversion Kingsey Inc. has received $87,500 in repayable funding to purchase leading-edge equipment for the manufacture of a new product.
Awarded through Canada Economic Development's Community Diversification program, this funding is expected to help the company increase its production capacity, maintain 28 existing jobs and create an additional two positions within the next three years.
Based in Danville, Conversion Kingsey Inc. specializes in paper conversion and serves a clientele whose needs are varied. This SME provides, among others, packaging services that suit several sectors, including paper manufacturing, printing, food and wood. The firm is primarily involved in two types of activity: facial tissue conversion and shrink wrap packaging.
Completion of this project, which involves the conversion of recycled brown paper, will enable the company to launch a new fragile product packaging that will satisfy store and moving company demand.
"Admittedly, in an economy characterized by an increasingly intense global competition, small and medium-sized enterprises must rise to major challenges. To meet their growth objectives, they have to play on their strengths-productivity, innovation and adaptive capacity. Conversion Kingsey Inc. has the qualities needed to open new markets. By boosting its productivity, the company will see its domestic sales increase significantly. It will also see the short-term benefits its project is bound to generate. Not only will Kingsey's approach nurture its growth, it will help revitalize the economy in the Asbestos region and maintain jobs," stated Mr. Gourde.
"In its February 26th budget, the Government of Canada proposed a series of measures aimed at helping businesses in their development efforts stimulating the country's economic growth. The manufacturing and processing sector will thus benefit from an additional billion dollars in assistance as a result of the three-year extension of the capital cost allowance for the accelerated write-off of manufacturing and processing machinery and equipment. This contribution we are announcing today is also entirely in line with the many tools the Government of Canada has put in place, among them the Advantage Canada strategic plan, to help build a strong and vibrant economy capable of generating sustainable growth," noted Minister Blackburn.
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Sources:
Marie-Claude Lemire
Communications
Canada Economic Development
Tel.: 514-283-2199
Cell.: 514-895-6237
E-mail: marie-claude.lemire@dec-ced.gc.ca
Sylvain Frenette
Office of the Honourable Jean-Pierre Blackburn
Canada Economic Development
Tel.: 514-496-1282
E-mail: sylvain.frenette@dec-ced.gc.ca
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