Canada Economic Development

Canada Economic Development

January 30, 2012 10:00 ET

Jyco Receives Funding From Government of Canada to Modernize Production Equipment

SHERBROOKE, QUEBEC--(Marketwire - Jan. 30, 2012) - The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that Jyco has been granted financial assistance to modernize its facilities.

"The Government of Canada is committed to supporting businesses that, like Jyco, are doing everything they can to become more competitive and thereby create the conditions that are conducive to their growth," says Minister Lebel.

Jyco specializes in sealing technologies. After weathering the 2008 crisis in the automotive industry, the company is now looking to improve its productivity and diversify its production in order to retain its competitive advantage over competitors in the transformed materials sector. To achieve its objectives, Jyco has undertaken a project to modernize its facilities by, among other things, purchasing new equipment.

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This $400,000 in repayable assistance has been granted through Canada Economic Development's Business and Regional Growth program.

To learn more about Jyco, visit www.jyco.net.

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