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Stanstead's Imperial Granite to close

Last Updated: Thursday, November 5, 2009 | 1:07 PM ET

CBC News

Imperial Granite Inc. said Thursday that the company will close for good in January.

The Stanstead, Que.-based company has 25 employees, and has been making granite headstones for nearly 30 years.

Dave Reeson, president of Remco Memorials, which owns Imperial Granite, said 70 per cent of the product is exported to the United States. But competition from Asian rivals and the climbing Canadian dollar has hurt the company's profit margins.

"Ever since the dollar has gained in strength —and in fact last year for a while it went to par and right now it's trading at 93-94 cents — it doesn't mean there's enough profit in the sales to make Imperial viable," he said.

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