Belt-Tech Products Inc.

Belt-Tech Products Inc.

June 03, 2013 11:00 ET

Belt-Tech Invests 2 Million $ in New Equipment, Installations Unveiled

GRANBY, QUEBEC--(Marketwired - June 3, 2013) - The President and Chief Executive Officer of Belt-Tech Products Inc., Mr. Robert J. Bélanger, is proud to inaugurate new state-of-the-art production equipment in his Granby plant today. The new equipment will allow the company to increase its output, grow its productivity and further enhance the superior quality of Belt-Tech products.

Belt-Tech Products is investing close to 2 million $ for this upgrade to its production line. The company is making the most of loans obtained from two major financial partners: Investissement Québec supporting the acquisition with a $ 500,000 loan and Corpo Sana Capital, through its FIER Innovation Durable s.e.c. partnership, advancing $ 450,000.

The company, which already employs 135 people, will now be able to create about 30 new full-time jobs.

Belt-Tech Products is today one of the world's leading producers of webbing for the manufacturing of safety seat belts for the automotive and aviation industries and for the industrial sector. With the acquisition of its new cutting edge dyeing and finishing system, the company is cutting costs, reducing production time, boosting capacity and improving on the overall strength of the webbing itself.

This upgrade in production means Belt-Tech Products can continue to grow. Over the last three years the company has tripled its revenues, doubled its production capacity and conquered new markets, notably in Eastern Europe and in South America. The secret to its success: Belt-Tech Products is constantly innovating and developing new products.

Attending the official unveiling ceremony this morning is Mr. Serge Cardin, MNA for Sherbrooke, acting on behalf of the Minister for Industrial Policy and the Banque de développement économique, Mrs. Élaine ZakaÏb. The Mayor of Granby, Mr. Richard Goulet, the MNA For Granby, Mr. François Bonnardel and numerous personalities including Investissement Québec and CorpoSana Capital representatives are also present.

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