Drummondville, Quebec, March 15, 2011 – The Honourable Denis Lebel, Minister of State for Canada Economic Development, announces the awarding of $740,000 in repayable funding to SPG International Ltd. Granted through the Business and Regional Growth program, this financial assistance will enable the enterprise to acquire specialized equipment for the manufacture of new products. The company expects this project to result in the creation of 19 jobs by 2012.
"Canada Economic Development believes in the importance of supporting dynamic enterprises that, like SPG International Ltd., are looking to diversify their products and expand into new markets. Requiring a total investment of more than $2 million, this project is sure to generate positive spinoffs for the entire region," explains the Minister of State.
Founded in 1960, SPG International Ltd. specializes in the manufacture of metal tool boxes and industrial storage systems for automotive technicians, industrial maintenance professionals and contractors. A recent diagnostic of the company's manufacturing operations identified a number of solutions for improving plant productivity. The enterprise's project therefore involves reconfiguring the work areas and introducing an automated welding cell for the manufacture of new products, including a tool box developed for the construction site market.
The Business and Regional Growth program is aimed at helping businesses improve their performance. SPG International Ltd., which operates in the metal products sector, an area identified by Canada Economic Development as a key priority for the Centre-du-Québec region, is a prime example of a firm seeking to make the most of its competitive potential.
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Sources:
Lyne Montpellier
Communications
Canada Economic Development
Tel.: 819-371-5182 or 1-800-567-8637
E-mail: lyne.montpellier@dec-ced.gc.ca
Benoît Fortin
Special Assistant, Communications
Office of the Honourable Denis Lebel
Canada Economic Development
Tel.: 819-997-3319
E-mail: benoit.fortin@dec-ced.gc.ca
