Canada Economic Development

Canada Economic Development

March 16, 2011 10:30 ET

Government of Canada Grants $107,153 in Funding to a Firm of the MBI Produits Diamantes Group

ROUYN-NORANDA, QUEBEC--(Marketwire - March 16, 2011) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announces the awarding of $107,153 in repayable funding to a firm of the MBI Produits diamantés group (9181-1729 Québec Inc.) for the acquisition of specialized equipment.

"It is without hesitation that the Government of Canada has lent its financial support to MBI Produits diamantés, whose project will help consolidate Abitibi-Témiscamingue's reputation in the diamond products sector and strengthen the Rouyn-Noranda economy," notes Minister of State Lebel.

This contribution from Canada Economic Development has been granted through the Community Adjustment Fund, a measure provided for in the economic action plan adopted by the Government of Canada to fund growth-generating projects like this initiative of the MBI Produits diamantés group.

A manufacturer of mining products, 9181-1729 Québec Inc. specializes in the diamond drilling sector. The firm used this financial assistance to acquire a new digital-controlled lathe and thereby expand its range of mining products (larger-diameter drill stems) and bolster its sales on domestic and foreign markets.

"This funding from Canada Economic Development will enable the MBI Produits diamantés group to answer the growing demand for industrial drilling products," adds the Minister of State.

For more on Canada's Economic Action Plan, visit www.actionplan.gc.ca.

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