Canada Economic Development

Canada Economic Development

August 30, 2011 11:00 ET

Entreprises Parlec Receives $287,500 in Funding From Government of Canada to Improve Productivity

VAL-D'OR, QUEBEC--(Marketwire - Aug. 30, 2011) - The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, today announced the granting of $287,500 in repayable funding to the firm Entreprises Parlec.

"The Government of Canada is deploying ongoing effort to support small and medium-sized businesses that, like Entreprises Parlec, are making the necessary investment to improve their productivity," said Minister Lebel.

Parlec specializes in the manufacture of tooling and machining products for drilling contractors and also does subcontracting work for diamond manufacturers. The firm recently acquired leading-edge equipment, namely a digital lathe, in order to increase its production capacity, raise productivity and thereby better serve the needs of drilling companies.

Mining is a promising growth sector for Abitibi-Témiscamingue, as are tourism, agri-processing and the transformation of forest products. It is therefore in these areas that Canada Economic Development has decided to focus its development efforts in the region.

This financial assistance has been granted through Canada Economic Development's Community Diversification program.

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