Government funding for Fibres Jasztex
Canadian company Fibres Jasztex Inc. is to be given $1.51 million in repayable government funding so it can buy modern equipment to make high-quality synthetic fibres. The project will require a total investment of $3.62 million and will generate 126 jobs.
"This project, which focuses largely on productivity growth and innovation, illustrates the determination of our textile industry in general, and of Fibres Jasztex in particular, to adjust to the challenges of globalisation and find new market niches,” said minister of public works and government services Canada and minister responsible for the Montréal region, Michael Fortier.
"Implementing this initiative will allow Fibres Jasztex to not only diversify its product range, but also to develop new market opportunities. In so doing, the company will be in a better position to hold its own with the competition," said minister of labour and minister of Canada economic development, Jean-Pierre Blackburn.
"With this support from Canada Economic Development, our company will be able to improve its competitive standing, both domestically and in the international marketplace. Maintaining our focus on research and development and remaining on the lookout for technological advances will allow us to consolidate our leadership position in the textile industry," added president of Fibres Jasztex, Alvin Zoltan.
The company manufactures high-loft nonwoven fabrics from the short fibres of recycled textiles and polymers. These products are used primarily in the apparel, agricultural, medical, construction, transportation, civil engineering and environmental sectors.
