New products, higher production capacity and expanded markets for Comaintel Inc.

SHAWINIGAN, QUEBEC--(Marketwired - July 31, 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 the firm Comaintel Inc. has been granted financial assistance to acquire new equipment and conquer foreign markets.

This support is being awarded in the form of a $168,500 repayable financial contribution through CED's Quebec Economic Development Program.

Quick facts

• Comaintel Inc. develops and commercializes magnetic induction roll heating systems for equipment used notably in paper, cardboard, aluminium and steel manufacturing.
  
  
• The funding will enable the company to hire a market development specialist and take part in trade shows and exhibitions.
  
  
• The government contribution will also be used to purchase equipment and tooling as well as to carry out certain improvements on its manufacturing and R & D facilities.
  
  

Quotes

"By helping Comaintel with equipment acquisition and market development, our government is showing once again that it is committed to stimulating economic growth."

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

"It is public knowledge that the lower demand for paper in North America and Europe has triggered a major decrease in its production. Our systems, long used by paper manufacturers, have therefore been adapted for the processing of other materials like aluminium and steel. The funding from Canada Economic Development will allow us to pursue our strategy to develop new industrial markets, particularly in Europe, Asia and the United States."

René Larivé, President, Comaintel

Related link

Comaintel Inc. Website: http://www.comaintel.com/

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