Saint-Prime, Quebec, November 12, 2009 – The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced that the firm Taimi Hydraulics has been awarded $141,500 in repayable funding through the Business and Regional Growth program to market its hydraulic couplings in the United States, Europe, Latin America, Oceania and elsewhere in Canada.
The project, which also involves extending the company’s distribution network and expanding its customer services, will require a $299,000 investment and result in the maintenance of the firm’s 10 existing jobs as well as the creation and maintenance of numerous others within subcontracting enterprises.
“In the Economic Action Plan we adopted last January, the Government of Canada committed to intensifying efforts to stimulate the national economy in the face of this global recession. We implemented a series of recovery measures to promote business growth, support job creation and generate tangible spinoffs across the country. This Taimi Hydraulics project is entirely in line with these objectives, which is why Canada Economic Development is proud to lend its support to this innovative Saguenay–Lac-Saint-Jean company,” explained the Minister of State.
The result of intensive research and development activities, Taimi’s bearing-free hydraulic couplings are unlike any others on the market today. These couplings, which have a life-span 10 times greater than that of competing products, allow enterprises in the forestry, mining, oil and construction sectors to increase up-time, reduce operating expenses and make their operations more cost effective. Taimi couplings are also more impervious than conventional bearing couplings, thereby reducing the risk of environmentally-harmful hydraulic fluid spills.
By exporting its innovative products, Taimi Hydraulics hopes to expand its operations, increase sales and contribute to the economic revitalization of Saint-Prime, a community that has been severely affected by the crisis in the forest sector.
For more on Canada’s Economic Action Plan, see www.actionplan.gc.ca.
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Sources:
Suzanne Thebarge
Communications
Canada Economic Development
Tel.: 514-496-6714
Cell. : 418-321-0295
E-mail: suzanne.thebarge@dec-ced.gc.ca
Simon Bachand
Press Secretary
Office of the Honourable Denis Lebel
Canada Economic Development
Tel.: 613-996-6236
E-mail: simon.bachand@dec-ced.gc.ca
