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Making inroads into the South
Korean market thanks to Canada Economic Development Laval (Quebec), March 5,
2002 - The Honourable Pierre Pettigrew, Minister for International Trade, is
pleased to announce on behalf of the Honourable Claude Drouin, Secretary of
State responsible for Canada Economic Development, that the Government of
Canada has awarded a financial contribution to one of Laval's most promising
SMEs.
DBM Reflex Enterprises Inc. received a $225,525 contribution from Canada
Economic Development to implement a marketing strategy of the firm's products
on the South Korean market. As well as ensuring the re-hiring of some 20
employees, the project is expected to generate additional sales amounting to
more than 13% of the firm's turnover by the year 2007.
"Supporting the development of innovation, promoting the emergence of new
know-how within Quebec enterprises and positioning our country among the world
leaders in these fields are key priorities of the Government of Canada.
Innovation and export play increasingly important roles across all economic
sectors. I am therefore particularly proud to be able to announce the
Government of Canada's assistance to DBM Reflex Enterprises Inc. and,
consequently, its contribution toward extending the reach of a Quebec
innovation that is already generating significant demand from many parts of the
world," stated Minister Pettigrew.
DBM Reflex Enterprises Inc.'s project involves developing the South Korean
market within the next two years in order to sell lighting and signalling
products and services, such as taillights, reflectors, indicators and fog
lights, to suppliers of automotive components.
To achieve that, the enterprise intends to implement a two-phase strategy that
involves market prospecting, conducting a feasibility study, developing
promotional tools and hiring specialists, and ultimately opening a finishing
shop for semi-finished products. This initiative is expected to prove strategic
given Korean culture's preference for local buying.
With 90% of its sales going to export, DBM Reflex Enterprises Inc., a Canadian
firm founded in 1971, offers major automotive component suppliers and mould
manufacturers a wide array of lighting and signalling products.
Throughout its 30 years of existence, this enterprise has always distinguished
itself by its innovativeness, the quality of its products and its exemplary
customer service, making it today a leader in its market.
The Canadian Trade Commissioner Service of the Department of Foreign Affairs
and International Trade provided its services to DBM Reflex Enterprises Inc. on
a number of occasions. Its advice has helped the company open doors in many new
foreign markets, by assisting with their participation in international trade
shows and Government of Canada trade missions.
Canada Economic Development's mandate is to promote the economic development of
the regions of Quebec. To that end, the Agency focusses on two main areas of
activity--Enterprise development and Improving the environment for economic
development of the regions--thus contributing directly to the attainment of the
Government of Canada's economic priorities, particularly with respect to
innovation, competitiveness, local development and sustainable development.
Funding for this project was provided for in the December 2001 budget and is
therefore built into the existing financial framework.
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