Export Development Canada Signs US$5 Million Facility with China's International Far Eastern Leasing Company

Export Development Canada (EDC) announced the signing of a US$5 million financing facility with International Far Eastern Leasing Company Ltd. (IFE) of China, a subsidiary of Sinochem Corporation, incorporated to specialize in the financial leasing business. The facility will be used to facilitate sales in China by Adaltis, a Canadian-based medical diagnostic company, to IFE. Adaltis has been investing to build the foundation of its operations in China for the manufacturing and sales of its proprietary diagnostic test kits and instruments in China. Adaltis has completed the construction of a new manufacturing plant in Shanghai, which has begun commercial production of its diagnostic tests. Adaltis is currently transferring further production to this new facility.