Canada Economic Development

Canada Economic Development

June 16, 2010 10:30 ET

Government of Canada Grants $328,500 in Total Funding to two Lachute Enterprises

LACHUTE, QUEBEC--(Marketwire - June 16, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, is pleased to announce the awarding of $328,500 in total repayable funding to the Lachute firms of Les Clôtures Oasis Inc. and Desco.

Specialized in the manufacture of high-end ornamental iron fences, Les Clôtures Oasis Inc. has been granted $128,500 in financial assistance through the Community Diversification program to implement a commercialization strategy aimed primarily at the Western and Atlantic Canadian markets. To that end, the firm intends to take part in trade fairs, produce promotional tools and materials, place strategic advertisements and hire an expert consultant.

Desco, a custom manufacturer of soldered steel parts for the industrial sector, has been granted a contribution of $200,000 through the Business and Regional Growth program for the acquisition of a high-precision automated steel punch. This project will enable the company to increase its productivity, strengthen its position on the government infrastructure market and ultimately break in to new markets.

"The Government of Canada is committed to supporting businesses that dream big and are not afraid to rethink the way they operate. Whether it's by setting out to conquer new markets or acquiring new equipment to boost productivity, firms like these help extend the reach of our know-how and contribute to the social and economic growth of Quebec's regions. We applaud the teams of both Les Clôtures Oasis and Desco for their exceptional dynamism and enterprising spirit," commented the Minister of State.

Carrying out these projects will require both enterprises to hire additional staff. Les Clôtures Oasis Inc. will thus recruit two additional employees while maintaining its 20 existing positions, even during the slow period, whereas Desco intends to create two new jobs between now and 2013. 

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.

Contact Information