Canada Economic Development

Canada Economic Development

November 03, 2011 10:00 ET

MBI Drilling Products Receives Financial Support From Government of Canada

ROUYN-NORANDA, QUEBEC--(Marketwire - Nov. 3, 2011) - 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 the awarding of $200,000 in repayable funding to the firm MBI Drilling Products for the implementation of its commercialization strategy.

"The Government of Canada is pleased to support small and medium-sized enterprises which, like MBI Drilling Products, take the steps needed to expand their business abroad," said Minister Lebel.

MBI Drilling Products manufactures and distributes its products to mining and drilling companies in Canada, the United States and Australia. The firm will use the funding from the Government of Canada to pursue its market development efforts in Chile. The SME has a very specific goal: to open a branch in Santiago, the Latin American country's capital.

The financial assistance announced today has been awarded through Canada Economic Development's Business and Regional Growth program.

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