Canada Economic Development for Quebec Regions

Canada Economic Development for Quebec Regions

November 13, 2014 10:30 ET

Furniture Manufacturer Bestar Inc. in Full Growth

Government of Canada supports the economic recovery of the town of Lac-Megantic

LAC-MÉGANTIC, QUEBEC--(Marketwired - Nov. 13, 2014) - Canada Economic Development for Quebec Regions (CED)

Acting on behalf of 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, the Honourable Christian Paradis, Member of Parliament for Mégantic-L'Érable and Minister of International Development and of La Francophonie, announces that the firm Bestar Inc. has been granted financial assistance to increase its productivity and manufacturing volume.

This support has been awarded in the form of a $500,000 repayable financial contribution through the Support for SMEs and Organizations component of the Initiative for the Economic Recovery of Lac-Mégantic (IERLM) delivered by CED.

Quick facts

  • One of Canada's leading producers of ready-to-assemble furniture, Bestar Inc. specializes in the manufacture of office furniture and, more recently, of bedroom furniture and storage solutions.
  • The funding from CED will serve to help the enterprise raise its productivity and manufacturing capacity as well as to strengthen its competitiveness. The company's project involves acquiring equipment and software and reconfiguring its production unit.
  • Bestar expects that this investment, once completed, will lead to the creation of 13 new jobs.
  • Since July 2013, the Government of Canada has granted more than $155 million in aid to the community, businesses and organizations of Lac-Mégantic.

Quotes

"Continuing to aid in the rebuilding and economic recovery of Lac-Mégantic is of the utmost importance to our government, as we have shown in our constant support of projects to improve the productivity and competitiveness of enterprises like Bestar Inc."

Christian Paradis, Member of Parliament for Mégantic-L'Érable and Minister of International Development and of La Francophonie

"Our company, Bestar Inc., has been rooted in the community of Lac-Mégantic for nearly 45 years. The financial support announced today will ensure our growth and, by extension, help maintain and create jobs in the region."

Roger Charbonneau, Chief Executive Officer and Chief Financial Officer, Bestar Inc.

Related links

More about Bestar Inc.

More about the Economic Recovery Initiative for Lac-Mégantic

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