Major Investment at Uniboard Canada in Val-d'Or

VAL-D'OR, QUEBEC--(Marketwired - Feb. 5, 2015) - Canada Economic Development for Quebec Regions (CED)

The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that Uniboard Canada Inc. has been granted financial support for the acquisition of strategic equipment at its Val-d'Or mill to improve the company's productivity and competitiveness.

This assistance has been awarded in the form of a $4.5 million repayable financial contribution through CED's Quebec Economic Development Program.

Quick facts

• Uniboard Canada Inc. is Quebec's leading manufacturer of thermofused melamine panels, medium-density fiberboard (MDF), high-density fiberboard (HDF), laminate flooring and decorative wood products. The company's Val-d'Or mill, which is devoted exclusively to the manufacture of particleboard, has been a major source of local jobs since 1976 and currently employs some 186 people.
• The enterprise's project mainly involves acquiring a new drying system, implementing a new fiber preparation and sifting process and carrying out various productivity improvements. The support from CED will go to financing the costs of acquiring and installing the equipment and putting it into operation.
• This investment will enable Uniboard Canada to strengthen the viability of its Val-d'Or mill as well as that of other enterprises in the forest industry value chain, notably sawmills and logging companies. The project will also help sustain Uniboard Canada's growth on the Canadian and U.S. markets.

Quotes

"This major investment in Uniboard Canada's Val-d'Or mill is testimony of our government's commitment to supporting projects that contribute to economic growth and job creation in the regions of Quebec."

Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec

"The shareholders of Uniboard Canada are confident that this major investment, coupled with the determination of our employees, will allow the Val-D'Or mill to once again become one of North America's most high-performing plants. This investment will help secure a market for sawmill by-products and enable us to meet the growing demand for our products."

James Hogg, President and Chief Executive Officer, Uniboard Canada Inc.

Related link

Uniboard Canada Website: http://uniboard.com/

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