Harper Government Supports Efforts of Gestion J.M. Labonte Inc. to Become More Competitive

SAINT-HONORÉ-DE-SHENLEY, QUEBEC--(Marketwire - Nov. 9, 2011) - 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, the Honourable Maxime Bernier, Minister of State (Small Business and Tourism), today announced that Gestion J.M. Labonté Inc. has been granted financial assistance to implement measures aimed at strengthening the firm's competitiveness.

"Our government is committed to supporting enterprises that, like Gestion J.M. Labonté, are doing everything they can to create the conditions conducive to their growth and, in so doing, are strengthening the regional economy," said Minister Bernier.

Gestion J.M. Labonté Inc. intends to use this funding to acquire a sheet metal laser cutting machine and to implement a computerized manufacturing management system. These projects are part of the capital investment plan the company has put in place to modernize its equipment and machinery pool and thereby better integrate the contracting value chain.

Gestion J.M. Labonté Inc. is a metal processing subcontractor operating in the agricultural and transportation equipment manufacturing sector. The firm, which specializes in the machining of high-precision parts, has a clientele consisting primarily of Quebec and Ontario manufacturers whose products are sold on the American and European markets, among others.

Information:

This repayable contribution of $204,750 has been granted through the Temporary Initiative for the Strengthening of Quebec's Forest Economies (TISQFE).

In effect since June 2010, the TISQFE is designed 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 viability and sustainable development

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Backgrounder

Temporary Initiative for the Strenghtening of Quebec's Forest Economies

The Temporary Initiative for the Strengthening of Quebec's Forest Economies (TISQFE) is in effect since June 17, 2010. The aims of the initiative are to diversify, strengthen and increase economic activity in areas affected by the forestry crisis in order to create and preserve jobs; and to give special emphasis to small- and medium-sized enterprises (SMEs) based in affected communities in order to improve their performance.

Who is targeted by the TISQFE?

• SMEs
  
  
• non-profit organizations
  
  

Which types of projects are sought?

Projects sought are those carried out in eligible communities, as determined by level of reliance on the forest sector and degree of devitalization. Funded projects might include, for example:

• community recovery plans
  
  
• development of new tourist attractions
  
  
• secondary and tertiary wood processing projects
  
  
• those contributing to productivity enhancement through acquisition of equipment or adoption of new technologies
  
  
• those contributing to the improvement of innovation capabilities
  
  
• those contributing to the increase in new market development capabilities
  
  

What projects are excluded?

Any project that violates Canada's obligations under the Softwood Lumber Agreement with the United States.