Canada Economic Development

Canada Economic Development

March 21, 2011 16:56 ET

Produits Neptune Inc. Sets Sights on Export Market Thanks to $275,000 in Funding from Government of Canada

SAINT-HYACINTHE, QUEBEC--(Marketwire - March 21, 2011) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, announces the awarding of $275,000 in repayable funding to Produits Neptune Inc. under the Business and Regional Growth program to enable the Sainte-Hyacinthe company to implement a production planning and inventory control system (Material Requirements Planning or MRP) as well as a commercialization strategy.

According to Minister of State Lebel: "Produits Neptune will take advantage of the recovery in the construction industry in the United States to increase its market share. Thanks to Canada Economic Development, this firm is sure to grow, which will be good for the Montérégie economy."

The financial assistance from Canada Economic Development will be used to acquire the MRP system, take part in international trade fairs and produce communication tools. Produits Neptune Inc. will proceed with an investment of $1,270,000 to carry out this project.

Montérégie has a high concentration of firms specialized in plastic processing. Canada Economic Development is investing in developing this niche market in the region. The project of Produits Neptune Inc., which has been manufacturing high-end bathtubs and showers since its founding in 1996, is in line with this regional development approach.

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