Canada Economic Development

Canada Economic Development

July 08, 2010 14:00 ET

Government of Canada Grants $306,100 to Lamco Forest Products Inc.

SAINT-FÉLICIEN, QUEBEC--(Marketwire - July 8, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced $306,100 in repayable funding to Lamco Forest Products Inc. The secondary wood processor intends to use this financial assistance to have some of its products certified by the Canadian Construction Materials Centre (CCMC) and the International Code Council (ICC).

"This Lamco Forest Products project will enable the company to break into niche markets in the housing, industrial and commercial construction sector. Obtaining certification for products will generate an increase in production while leading to the creation of 27 new jobs within the next two years and the maintenance of 15 existing positions. It goes without saying that this is great news for the Domaine-du-Roy RCM, an area hard hit by the forest crisis. Canada Economic Development's Saguenay–Lac-Saint-Jean Business Office sees secondary wood processing as a priority economic activity for the region and one offering highly-promising opportunities," explained the Minister of State.

This funding from Canada Economic Development has been granted through the Business and Regional Growth program. This program is designed to strengthen the conditions conducive to the sustainable growth of Quebec's regions and small and medium-sized enterprises (SMEs) by, among other things, helping these businesses improve their performance, become more competitive, engage in more innovation and develop new markets.

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

Canada Economic Development is online at www.dec-ced.gc.ca. Subscribe to the Agency's press releases at
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Contact Information

  • Canada Economic Development
    Eleonore Cote
    Communications
    418-668-5928 or 1-800-463-9808
    eleonore.cote@dec-ced.gc.ca
    or
    Canada Economic Development
    Office of the Honourable Denis Lebel
    Eve Cardinal - Special Assistant, Communications
    819-997-3319
    eve.cardinal@dec-ced.gc.ca