EDC provides USD 2.5 M to India's Manjushree Technopack for Canadian equipment purchase

BANGALORE, Nov. 6, 2011 /CNW/ - Export Development Canada (EDC) today announced that it has provided USD 2.5 million in financing to Manjushree Technopack Limited (Manjushree) to facilitate the purchase of equipment from Husky Injection Moulding (Husky) of Bolton, Ontario.

"Manjushree is a dynamic company that is working with major brands from around the world, and EDC hopes that this first financing transaction with them can lead to more business for Canadian companies in the future," said Pierre Gignac, Senior Vice-President, Insurance, EDC, who was in Mumbai, Bangalore and New Delhi this week visiting Manjushree and other India customers.

Two-way trade between Canadian and India reached CAD 4.2 billion in 2010, up from CAD 3.6 billion in 2006, much of which was concentrated in pulses, jewelry, textiles, pulp and paper and minerals.

EDC has permanent representations in Mumbai and New Delhi, and in 2010 facilitated more than CAD 1.75 billion in exports by 320 Canadian companies.

EDC is Canada's export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by more than 8,200 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and a recognized leader in financial reporting and economic analysis.

SOURCE Export Development Canada

For further information:

Media contact in Canada

Phil Taylor
Export Development Canada
Tel: (613) 598-2904
Blackberry:  ptaylor@edc.ca

Media contact in India

Vijendra Gairola
Chief Representative, India
Tel: +91 22 6749 4492
Blackberry:  vgairola@edc.ca


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