Canada Economic Development

Canada Economic Development

November 10, 2010 10:00 ET

RPR Hydro Inc. Granted $400,000 From Government of Canada to Improve Productivity

SAINT-JEAN-SUR-RICHELIEU, QUEBEC--(Marketwire - Nov. 10, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced that the firm RPR Hydro Inc. received $400,000 in repayable funding from the Government of Canada to bolster its production capacity and growth.

Awarded through the Community Adjustment Fund established under Canada's Economic Action Plan, this financial assistance has allowed the Montérégie firm to make the strategic decision to improve its productivity and cost-effectiveness. To that end, RPR Hydro Inc. has undertaken the construction of a plant and the acquisition of specialized equipment to improve its strategic capabilities. 

"The Government of Canada believes in the importance of supporting projects implemented by small and medium-sized enterprises that, like RPR Hydro, are devoting their energy to innovating and to staying competitive," explained the Minister of State.

RPR Hydro specializes in the manufacture and repair of salient poles and alternators for hydro-electric power generation. Requiring an overall investment of more than $1.4 million, the company's project will help revitalize the economy of a region whose manufacturing sector has been undergoing a difficult period.

This project will enable the firm to more fully integrate all of its manufacturing operations, thereby reducing its reliance on import for various types of products, and to capitalize on the growth of the North American hydro-electric market in order to diversify its client base and reduce its commercial risk.

The Community Adjustment Fund is a $1-billion economic stimulus measure aimed at facilitating adjustment to prevailing economic conditions and at creating jobs and maintaining employment in those regions and communities most severely affected by the economic downturn. To date, 80% of the funds have been committed to support more than 1,000 projects across Canada. 

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

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