Canada Economic Development

Canada Economic Development

August 23, 2011 10:30 ET

Lainco Inc. Receives $545,000 in Funding From Government of Canada to Improve Productivity

TERREBONNE, QUEBEC--(Marketwire - Aug. 23, 2011) - Jacques Gourde, Member of Parliament for Lotbinière–Chutes-de-la-Chaudière today announced, 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 awarding of $545,000 in repayable funding to Lainco Inc. to acquire state-of-the-art equipment and thereby improve its productivity.

"Lainco is taking concrete steps to meet the productivity challenge and maintain the capacity for innovation and unique expertise that are its trademark. That is why the Government of Canada is proud to lend it its financial support," said MP Gourde.

Lainco specializes in the manufacture of structural steel for industrial, commercial and institutional buildings. The acquisition of new digital equipment, to be used for cutting, piercing, parts marking and quality control operations, will enable the company to increase its production capacity. It will also be able to meet the new, more stringent standards for safety at work, while consolidating its leadership position in the construction of complex, 50 to 2000 ton structures.

This financial assistance has been awarded through the Business and Regional Growth program.

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