Val-d'Or, Quebec, July 24, 2008 - The Honourable Jean-Pierre Blackburn, Minister of Labour and Minister of Canada Economic Development, today announced that P. F. Précision has been awarded $27,250 in non-repayable funding for the acquisition of a digital lathe that will enable the firm to design and develop new products and ultimately better meet customer demand.
A specialist in industrial machining, this young Palmarolle enterprise is mainly engaged in the manufacture of equipment components for the mine drilling sector. Its main customers are distributors for drilling and mining companies in Quebec and Ontario.
"This project not only allowed the firm to improve its productivity, it also promises to help diversify the offering in Palmarolle and raise the community's short- and medium-term economic growth. Canada Economic Development adopted its 2008-2011 Strategic Plan in an effort to, among other things, help Quebec's small and medium-sized manufacturers become more competitive and expand their operations. That plan's three-year $86 million Productivity Support component is one of the ways by which we hope to achieve that," stated Minister Blackburn.
Necessitating an overall investment of $54,500, this project has resulted in the creation of an additional machinist's job to complement the work currently being carried out by the firm's owner, Paul Fortin.
This contribution to P. F. Précision has been awarded through the Canada Economic Development Community Economic Diversification Initiative - Vitality and is consistent with the Agency's mandate to promote the long-term economic growth of Quebec's regions.
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Sources:
François Bélisle
Communications
Canada Economic Development
Tel.: 819-825-5260, ext. 235
E-mail: francois.belisle@dec-ced.gc.ca
Pierre Miquelon
Office of the Honourable Jean-Pierre Blackburn
Canada Economic Development
Tel.: 514-496-1282
E-mail:pierre.miquelon@dec-ced.gc.ca
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