Outils Viel Inc. Increases Productivity With Support From Government of Canada

RIVIÈRE-DU-LOUP, QUEBEC--(Marketwire - Aug. 15, 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 $181,650 in repayable funding to Outils Viel Inc. for the acquisition of equipment that will enable the firm to increase its production capacity and thereby improve its performance.

"The Government of Canada sees the productivity and competitiveness of small and medium-sized enterprises like Outils Viel as the key to a healthy economy. That is why we are proud to support this company's efforts to that end," explained Minister Lebel.

Founded in 1978, Outils Viel designs and manufactures specialty woodworking tools for cabinet makers, sharpening companies and hobby woodworkers. The firm, whose products are sold on national and international markets, requires new equipment in order to be able to machine larger parts. Thus, the acquisition of a machining centre, a numerically controlled lathe, a press and a welding machine will help the company cut the manufacturing time of some of its elements by up to 40%. This project is part of a wider growth strategy undertaken by the enterprise, which recently centralized all of its operations in a new, larger building better adapted to its manufacturing needs.

This financial assistance has been awarded through the Business and Regional Growth program. In supporting Outils Viel, Canada Economic Development is contributing to the consolidation and growth of the metal products and innovative materials sector, a priority area for the Bas-Saint-Laurent Business Office.

For more about Outils Viel Inc., visit www.vieltools.com.

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