Canada Economic Development

Canada Economic Development

May 16, 2013 15:30 ET

ADS Inc. Receives Financial Support from Government of Canada

SAINTE-MARIE, QUEBEC--(Marketwired - May 16, 2013) - The Honourable Maxime Bernier, Minister of State (Small Business and Tourism), today announced, on behalf of the Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities, Minister of the Economic Development Agency of Canada for the Regions of Quebec and Minister of Intergovernmental Affairs, that the firm ADS Inc. has been granted financial assistance to improve the productivity and increase the production capacity of its Texel division.

"By helping ADS Inc. acquire leading-edge technology, our Government is once again demonstrating its commitment to investing in projects that ensure economic growth," said Minister Bernier.

Founded in 1967, Texel is a manufacturer of nonwoven material for technical use. Its innovative products are marketed in America, Asia and Europe, in a wide range of sectors.

The Agency's contribution will go towards an ultra-modern, high-performance geotextile manufacturing line. This new line will allow Textel to increase its production capacity while creating a wider and thinner product. The project will thus open new avenues for growth, particularly in the geosynthetic, industrial and automotive sectors.

"Our Government remains focused on four priorities, as outlined by the Prime Minister, that Canadians care most about: their families, the safety of our streets and communities, their pride in being a citizen of this country, and of course, their personal financial security," concluded Minister Bernier.

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This assistance, granted in the form of a $500,000 repayable contribution, has been awarded through Canada Economic Development's Quebec Economic Development Program.

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