(OTTAWA) – March 17, 2009 – Export Development Canada (EDC) today announced it has provided additional financing of CAD 1.6 million to Maxtech Manufacturing Inc. (Maxtech) that will help it strengthen and diversify its operations.
“Given the tremendous challenges and risks for auto parts companies such as Maxtech, we recognize that access to EDC financing is critical to Maxtech’s debt restructuring and continuing operations,“ said Eric Siegel, President and CEO of Export Development Canada. “EDC’s involvement is intended to help Maxtech maintain a strong and viable position within the industry, bring innovative products to the market and help to preserve jobs in Ontario and Quebec.”
Maxtech Manufacturing Inc. of Waterloo, Ontario, is a designer and manufacturer of auto parts and sub-assemblies with three Canadian-based manufacturing facilities that custom-engineer and assemble parts made from diverse alloys and powder metal. Maxtech is a certified member of the Canadian Aboriginal and Minority Supplier Council.
EDC is Canada’s export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC’s knowledge and partnerships are used by more than 8,300 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining, is a recognized leader in financial reporting and economic analysis, and has been recognized as one of Canada’s Top 100 Employers for eight consecutive years.
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Media contact: Phil Taylor
Export Development Canada
Tel: (613) 598-2904
Blackberry: ptaylor@edc.ca
