Canada Economic Development

Canada Economic Development

June 16, 2010 10:00 ET

Bois Expansion Inc. Receives $450,000 in Funding from Government of Canada to Increase Productivity

SAINT-JEAN-SUR-RICHELIEU, QUEBEC--(Marketwire - June 16, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced the awarding of $450,000 in repayable funding to Bois Expansion Inc. This financial assistance will enable the manufacturer of wooden mouldings, flooring, staircases and ornamental components to acquire leading-edge equipment and thereby increase its productivity.

In an effort to optimize use of this new machinery and maximize production capacity, this dynamic firm intends to relocate and centralize all of its operations, currently carried out in four separate plants, in a single facility in Saint-Jean-sur-Richelieu. Bois Expansion then plans to diversify its product line and considerably reduce factory costs and delivery time in order to place itself in a prime position to expand into foreign markets.

Completion of these projects will lead Bois Expansion Inc. to increase its staff force. The company therefore expects to hire five new employees while maintaining the jobs of the 56 workers already in place.

"The Government of Canada is committed to supporting businesses that dream big and are not afraid to rethink the way they operate in order to become more productive and pursue their expansion. Small and medium-sized enterprises like Bois Expansion contribute to the economic and social development of Quebec's regions. That is why Canada Economic Development sees it as important to lend its financial support to a regional enterprise that, like this one, is distinguishing itself by virtue of the quality of its products," explained the Minister of State.

This financial assistance has been granted through the Business and Regional Growth program, an initiative aimed at helping enterprises improve their performance, become more competitive and engage in increased innovation in order to achieve sustainable growth.

Canada Economic Development is online at www.dec-ced.gc.ca. Subscribe to the Agency's press releases at http://www.dec-ced.gc.ca/eng/media-room/mailing-list/list.html to keep up with the latest news.

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