Canada Economic Development

Canada Economic Development

February 07, 2012 10:00 ET

Faspac Plastiks Inc. to Receive Financial Support From Government of Canada to Improve Productivity

MONTREAL, QUEBEC--(Marketwire - Feb. 7, 2012) - The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that the Government of Canada is providing Faspac Plastiks Inc. with support for the purchase and modernization of equipment.

"The Government of Canada acknowledges the significant contribution made by small and medium-sized enterprises to job creation and economic growth," stated Minister Lebel. "That is why it is helping Faspac Plastiks invest in the firm's productivity in order to maintain its competitive position."

Faspac Plastiks manufactures polyethylene plastic bags, primarily for the food industry. The company has developed an environmentally friendly process-unique in Canada-for printing bags. Its efforts toward improving its productivity will be focussed on five areas: management process, manufacturing, market, financial structure and work environment. The enterprise will thus be able to develop new sectors of activity and new export markets.

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The $160,800 repayable contribution announced today is provided under Canada Economic Development's Business and Regional Growth program.

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