Industry Canada

Industry Canada
FedNor

FedNor

December 19, 2010 11:00 ET

Minister Clement Announces Investment to Strengthen the Economy and Create Jobs in the Nipissing-Timiskaming Region

NORTH BAY, ONTARIO--(Marketwire - Dec. 19, 2010) - The Honourable Tony Clement, Minister of Industry and Minister responsible for FedNor, announced today that the Government of Canada, through FedNor, is investing $455,000 in Rotacan to help the local mining equipment manufacturer enhance and expand its product line.

"Today's announcement further demonstrates the Government of Canada's commitment to strengthen and diversify the economy of the Nipissing–Timiskaming region," said Minister Clement. "Through strategic investments in projects that promote innovation and technology development, such as this one, the federal government is helping to create jobs and generate immediate economic results for the people of Northern Ontario."

A FedNor investment of $455,000 will support technical enhancements to Rotacan's existing product lines, allowing for the development of a new, sealed bearing drill bit. In addition to its mining application, this unique product will also be used in the oil & gas industry, which will enable the local company to expand its client base and enter new domestic and international markets. Rotacan is currently the only Canadian company with design and production capabilities dedicated to the manufacturing of rotary blast hole drill bits.

"We are very excited about the positive impact this investment will have on our ability to enter new markets and grow our business," said Joe Guido, Owner of Rotacan. "This funding will allow us to diversify our product line, hire additional staff and help position our organization for long-term growth and prosperity."

By supporting community economic development and business growth through its programs and services, FedNor is opening doors and building futures for a prosperous Northern Ontario.

To find out more about FedNor, visit us at: http://ic.gc.ca/FedNor

Contact Information

  • Office of the Honourable Tony Clement
    Lynn Meahan - Press Secretary
    613-995-9001
    or
    Industry Canada
    Media Relations
    613-943-2502
    or
    FedNor
    Barclay Babcock
    Communications Officer
    705-671-0715
    1-877-333-6673