Government of Canada Lends Financial Support to Laurier Glass Ltd

LAURIER-STATION, QUEBEC--(Marketwire - Jan. 25, 2012) - Acting on behalf of the Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, Jacques Gourde, Member of Parliament for Lotbinière-Chutes-de-la-Chaudière, today announced that Laurier Glass Ltd has been granted financial assistance from the Government of Canada for the purchase of specialized equipment. This acquisition will enable the company to increase its production capabilities and improve the quality of its products.

"The Government of Canada is committed to supporting enterprises that, like Laurier Glass, are undertaking projects that will help bolster their productivity and further the economic diversification of their regions," said Mr. Gourde.

Founded in 1950, Laurier Glass initially specialized in the manufacture of stocksheet mirrors for the furniture industry before branching out into the production of tempered glass. Since 2002, the family-run enterprise has further diversified its activities to include the manufacture of architectural products that are available, based on customer requirements, in a variety of coloured and patterned glass options. In so doing, Laurier Glass has set itself apart from the competition. In 2010, the innovative company embarked on a major expansion phase that will require nearly $5.5 million in investment to complete.

About the TISQFE

This $325,000 in repayable funding has been granted through Canada Economic Development's Temporary Initiative for the Strengthening of Quebec's Forest Economies (TISQFE).

The TISQFE was brought into force in June 2010 to help communities affected by the forestry crisis diversify their economies in order to ensure their growth and create and maintain employment. The initiative's goal is also to support small and medium-sized businesses in these communities in their efforts to secure their sustainable development.

Last July 14, the Government of Canada announced its intention to allocate a further $20 million in funding over two years to support the Quebec silvicultural sector for the years 2011 and 2012.

This measure is one of several put in place by the Government of Canada in the past months to counteract the effects of the forest crisis. Others include, for example, the Community Adjustment Fund, with its $1 billion budget over two years to mitigate the impacts of the crisis, the $1 billion granted to the Pulp and Paper Green Transformation Program to help enterprises carry out environmentally-friendly projects and the $230 million invested, in collaboration with the Government of Quebec, for silvicultural work and the restoration of bridges and culverts on multi-use forest roads. Workers have also received their fair share of support, with the Government of Canada introducing some of the most generous measures in history to help them through the economic crisis.

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