Canada Economic Development

Canada Economic Development

May 21, 2010 11:30 ET

NAD Klima Receives $450,000 in Funding From Government of Canada for Productivity Enhancement

SHERBROOKE, QUEBEC--(Marketwire - May 21, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced the awarding of a repayable contribution of $450,000 to the company NAD Klima for the acquisition of specialized equipment to improve its productivity. This project calls for an overall investment of $1.8 million.

Founded in 1999, NAD Klima specializes in air conditioning and balancing. This project will enable the company to repatriate the manufacturing of certain parts of the high-induction air diffusers it distributes. The new production component will benefit the company in several ways, improving, among other things, quality control, customer service, costs, delivery times and, ultimately, sales.

"Canada Economic Development is committed to supporting enterprises that, like NAD Klima, focus on investing in research and development in order to remain competitive and innovative. This financial assistance will enable the firm to reconfigure its plant where it will use its own technology to manufacture products. What is more, its project will result in the creation of 30 additional full-time positions and help diversify the economy of the Estrie region," explained Minister of State Lebel.

The funding from Canada Economic Development has been awarded through the Community Adjustment Fund, an initiative established under Canada's Economic Action Plan.

"Thanks to the special measures provided for under Canada's Economic Action Plan, our national economy is on the road to recovery. Implementing the second phase of this Plan will help lay the foundations for solid long-term economic growth and job creation," concluded the Minister of State.

For more on Canada's Economic Action Plan, visit www.actionplan.gc.ca.

Canada Economic Development is online at www.dec-ced.gc.ca. Subscribe to the Agency's press releases at
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