Canada Economic Development

Canada Economic Development

June 18, 2010 13:00 ET

Government of Canada Grants $550,000 in Funding to Jasztex Fibers Inc. for Manufacture and Commercialization of Specialty Fabrics

POINTE-CLAIRE, QUEBEC--(Marketwire - June 18, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, is pleased to announce the awarding of $550,000 in repayable funding to Jasztex Fibers Inc. for the installation of state-of-the-art technology that will allow the firm to manufacture flame-resistant fabrics for the mattress industry and insulation made from recycled denim for the construction sector. This assistance is awarded through the CANtex Canadian textiles program.

"Jasztex is constantly focusing on innovation in order to capitalize on new business opportunities. This project, which will necessitate an investment of $1.1 million and result in the creation of 12 jobs, will enable the firm to market its innovative textile products both within and beyond Canada's borders. It will give the company the means it needs to meet North American market demand for specialty flame-resistant fabrics while consolidating its position as a leader in the sector," noted the Minister of State.

In acquiring strategic equipment and implementing a commercialization plan, Jasztex hopes to improve its competitiveness so as to better meet customer needs and set itself apart from the competition.

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