Canada Economic Development

Canada Economic Development

December 02, 2013 15:30 ET

Biexo Inc. Receives Financial Assistance from Government of Canada

SAINT-ROCH-DE-L'ACHIGAN, QUEBEC--(Marketwired - Dec. 2, 2013) - The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that the firm Biexo Inc. has been granted financial assistance to increase its production capacity.

"By helping Biexo acquire new equipment that will improve its productivity, my government is showing once again that it is committed to investing in projects that contribute to economic growth and job creation," said Minister Lebel.

Founded in 2008, Biexo specializes in the manufacture of tanks, holding basins and other types of motor oil recovery and storage equipment for use by automobile dealerships and repair shops. The firm is today inaugurating a new state-of-the-art plant built to meet the growing demand for its products.

The financial support from Canada Economic Development has allowed Biexo to equip itself witha paint booth, hydraulic press, and welding fume extraction system, among other things, thus giving the firm additional advantages that will help it consolidate its position on the Canadian market and expand further into North America. This project will result in the creation of eight new jobs between now and 2016.

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This assistance, granted in the form of a $63,420 repayable financial contribution, has been awarded through Canada Economic Development's Quebec Economic Development Program.

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