Sainte-Anne-des-Monts, Quebec, August 9, 2010 – The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced the awarding of $150,000 in funding, half of it in the form of a non-repayable contribution, to Les Armoires des Monts Inc. Granted through the Community Adjustment Fund-a major economic stimulus measure established under Canada's Economic Action Plan-this financial assistance will be used to help the enterprise improve its productivity. Requiring an overall investment of $750,000, the company's project will result in the creation of three new jobs in the area.
Operating in the Gaspésie region for more than 30 years, Les Armoires des Monts specializes in the manufacture of kitchen and bathroom cabinetry and in the design of architectural elements and built-in furnishings. With the goal of increasing its market share in the residential and institutional sectors, the company is looking to bolster its production capacity and improve productivity by modernizing and automating a portion of its manufacturing equipment. The funding announced today will enable the firm to carry out this project.
"The challenge for enterprises intent on bucking the economic downturn is to increase their production capacity and boost their competitiveness. That is something Les Armoires des Monts has clearly understood, as this current project illustrates. The Government of Canada is therefore pleased to lend its support to this undertaking, all the more so in that it promises to further the economic revitalization of Sainte-Anne-des-Monts, a Haute-Gaspésie community that has been severely shaken by the global recession. The high-technology equipment the firm plans to acquire should allow it to increase sales by as much as 13% this year," explained the Minister of State.
Once this project is complete, Les Armoires des Monts will be in a position to better meet customer demands and requirements. With enhanced competitiveness, this Gaspé Peninsula manufacturer will be able to pursue its growth and contribute to the diversification and strengthening of the Sainte-Anne-des-Monts industrial fabric.
Canada's Economic Action Plan provides for the elimination of tariffs on a wide range of equipment and offers temporary accelerated capital cost allowances for, among other things, manufacturing and processing machinery and equipment, all in an effort to help Canadian companies create jobs, modernize their operations and become more competitive. Since the implementation of these tariff relief measures, these enterprises have been able to import, duty-free, more than $2 billion in equipment that previously would have been subject to duty charges.
For more on Canada's Economic Action Plan, visit www.actionplan.gc.ca.
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Sources:
Karina Gagnon
Communications
Canada Economic Development
Tel.: 418-368-6048 or 1-866-368-0044
E-mail: karina.gagnon@dec-ced.gc.ca
Simon Bachand
Special Assistant, Communications
Office of the Honourable Denis Lebel
Canada Economic Development
Tel.: 613-996-6236
E-mail: simon.bachand@dec-ced.gc.ca
