Canada Economic Development

Canada Economic Development

March 12, 2010 11:30 ET

Les Industries J.P.B. Inc. Receives $200,000 in Funding from Government of Canada for Manufacturing Equipment

SALABERRY-DE VALLEYFIELD, QUEBEC--(Marketwire - March 12, 2010) - The Honourable Senator Suzanne Fortin-Duplessis, acting on behalf of the Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced the awarding of $200,000 in funding, half of it in the form of a non-repayable contribution, to Les Industries J.P.B Inc. Granted through the Business and Regional Growth program and the Community Adjustment Fund, this financial assistance will enable the company to acquire leading-edge equipment and thereby increase its production capacity. The project will necessitate an overall investment of $1,024,000.

"In order to pursue its growth strategy effectively, Les Industries J.P.B. has decided to acquire specialized equipment and instruments that will allow it to give a second useful life to processed treated timber products in its facility, and to do so in a way that respects both the environment and our forests. This project will enable the firm to create six new full-time jobs while increasing its productivity. For all of these reasons, the Government of Canada is pleased to lend its financial support to a company that contributes so significantly to the economic development of Salaberry-de-Valleyfield and of the Montérégie region as a whole," explained Senator Fortin-Duplessis.

Les Industries J.P.B. specializes in the reclamation and transformation of treated timber discarded by power distribution, telephone, highway transportation and railway companies. The firm processes this wood into quality lumber and non-standard poles, among other things, and converts the production waste into wood chips, or biomass, for subsequent use as an energy source by cement factories and paper mills. By diversifying its processed products, Les Industries J.P.B. hopes to maintain its share of the Quebec and Ontario markets and position itself advantageously to expand into the U.S. marketplace.

The Community Adjustment Fund is a two-year $1 billion economic stimulus measure announced under Canada's Economic Action Plan. This fund is intended to support projects that have the potential to preserve and create jobs in communities affected by the economic slowdown and thereby help stimulate the economy.

For more on Canada's Economic Action Plan, visit www.actionplan.gc.ca.

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