Canada Economic Development

Canada Economic Development

December 08, 2010 15:00 ET

Government of Canada Grants $251,955 in Funding to Corium Urethane Technology

SOREL-TRACY, QUEBEC--(Marketwire - Dec. 8, 2010) - On the occasion of today's official opening of the Corium Urethane Technology plant in Sorel-Tracy, the Honourable Denis Lebel, Minister of State for Canada Economic Development, announced that the innovative startup has been granted a total of $251,955 in repayable financial assistance.

"Automating a portion of its production will enable Corium Urethane Technology to create some 20 jobs in an expanding sector and, by extension, help strengthen the economic fabric of the Regional County Municipality of Pierre-De Saurel," explained Minister of State Lebel. 

Corium Urethane Technology specializes in the custom manufacture of moulded polyurethane parts and components. The company's clients include, among others, recreational vehicle and heavy truck makers and manufacturers of institutional furniture for the health care sector. The company's plant will be the first in North America to use state-of-the-art PU SKIN technology, an innovation resulting from research and development on polyurethane materials that is more versatile than vinyl. The enterprise will also be the first of its kind capable of meeting the needs of manufacturers engaged in limited production. 

Corium Urethane Technology was recently granted $87,500 in assistance through the Community Adjustment Fund (CAF) for the acquisition of an additional industrial robot. The Minister of State noted that the startup also received $164,455 in financial support to set up its new plant and outfit it with cutting-edge equipment. Necessitating an overall investment of $1.6 million, this project will place Corium Urethane Technology in a position to more rapidly expand its production capacity and optimize its performance.

The Community Adjustment Fund is a $1 billion measure established by the Government of Canada under Canada's Economic Action Plan to stimulate job creation, facilitate the maintenance of existing jobs and support communities in their economic diversification and restructuring efforts.

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

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