Canada Economic Development

Canada Economic Development

March 02, 2010 10:00 ET

Vifan Canada Inc. Receives $500,000 in Funding from the Government of Canada

LANORAIE, QUEBEC--(Marketwire - March 2, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, announced the awarding of $500,000 in repayable funding to Vifan Canada Inc. under the Business and Regional Growth program to purchase specialty equipment that will enable it to strengthen its market position. Vifan Canada Inc., a subsidiary of Vibac International Group, is investing $1.6 million in the project.

This government financial assistance will go toward the acquisition of a state of the art plastic recuperator. This equipment makes it possible to reuse polypropylene plastic wastes from finishing operations in the production of plastic film. This sophisticated process underlines the impressive expertise Vifan Canada has acquired in its field, largely as a result of its research and development efforts. The new equipment will facilitate the recovery of approximately 1,600 tons of plastic per year, representing annual savings of $1 million.

"Canada Economic Development is committed to supporting enterprises that, like Vifan Canada, focus on maintaining their competitiveness and fostering their growth and development. Our financial assistance will allow this enterprise, which has great technical expertise, to develop innovative packaging products for the food industry. Because it operates in a very competitive market, it has adopted a proactive, pragmatic approach. And we are proud to assist this Lanaudière SME in a project that will ensure its long-term growth and maintain many jobs in the region," said Minister of State Denis Lebel.

Vifan Canada is the largest employer in the d'Autray Regional Country municipality (RCM). This project will be the biggest investment in the history of its Lanoraie plant.

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