Canada Economic Development

Canada Economic Development

March 02, 2010 11:00 ET

Government of Canada Grants $160,158 in Funding to G Plus Industrial Plastics

ROUYN-NORANDA, QUEBEC--(Marketwire - March 2, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, announces the awarding of $160,158 in repayable funding through the Business and Regional Growth program to G Plus Industrial Plastics Inc.

This financial assistance will enable the Abitibi-Témiscamingue firm to acquire new equipment, including a digital cutting table and moulds, as well as to develop new products and implement a commercialization strategy outside of the province in an effort to expand its customer base.

"G Plus Industrial Plastics has taken an extremely proactive approach by deciding to diversify its production and broaden its clientele in order to meet increasingly strict customer demands. This strategy will allow the firm to introduce sturdier products to the market and improve its competitiveness. This project will have the added benefit of creating four new jobs while consolidating the company's 12 existing positions," explained Minister of State Lebel.

A manufacturer of plastic industrial products for the mining sector, G Plus Industrial Plastics has been engaging in research and development activities to create alloy materials capable of replacing steel. The substitutes developed, which the firm has already introduced to the market, have the advantage of being lightweight and resistant to chemicals, impacts, wear and corrosion.

Canada Economic Development has decided to focus its development efforts in Abitibi-Témiscamingue on the region's growth-generating sectors of mining, tourism, agri-food processing and the transformation of forest products.

"Our government adopted Canada's Economic Action Plan a little over a year ago in response to the current economic situation. This large-scale measure is aimed not only at bringing about our rapid economic recovery, but also at laying the foundations for solid long-term growth and job creation. This Plan will translate into nearly $62 billion in funding being invested in our economy by the year 2011 and will help prepare Canada's regions to position themselves advantageously on increasingly competitive global markets," the Minister of State concluded.

For more on Canada's Economic Action Plan, visit

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