Rivière-du-Loup, Quebec, July 8, 2009−The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced that Premier Horticulture Ltd has been awarded $4,892,103 in repayable funding through the Community Adjustment Fund to modernize and increase the production capacity of two Rivière-du-Loup plants. Requiring an overall investment of $13,467,970, this project will result in the creation of 34 jobs in Rivière-du-Loup and eight in Pointe-Lebel, while ensuring the maintenance of 125 existing jobs at Premier Horticulture, a division of Premier Tech Ltd.
The Minister of State applauded this dynamic Bas-Saint-Laurent firm for moving forward with a project of broad interest that promises to generate significant spinoffs in communities hit by the economic downturn. “For years, Premier Horticulture has been using innovation to secure its growth, thereby providing many communities with opportunities to diversify their economic fabric. As part of the economic action plan we announced this past January, our government established the Community Adjustment Fund to facilitate the transition toward new avenues of development. This measure is intended to help communities affected by the recession harness new business opportunities, create jobs and ensure their prosperity,” he explained.
Premier Horticulture is seeking to develop innovative products to attract new clients and to optimize its manufacturing processes. The firm thereby hopes to bolster its sales, including those on foreign markets, by more than 30% in the medium term. By simultaneously boosting its production capacity by 30%, the company also expects to be in a better position to meet the rising demand for growing substrates and to consolidate and expand its market shares.
Through its constant commitment to innovation, Premier Horticulture has emerged as a world leader in its field by developing products that surpass the competition and satisfy the needs of its clientele. The company’s exceptional expertise and technical know-how will enable it to pursue its growth by capitalizing on a domestically-abundant natural resource while respecting the principles of sustainable development. This project will also serve to raise the international profile of peat moss processing, a priority activity for the economic development of the Bas-Saint-Laurent region and a Canadian sector of excellence.
For more on Canada’s Economic Action Plan, see www.actionplan.gc.ca.
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Sources:
Claudie Lamontagne
Communications
Canada Economic Development
Tel.: 418-722-3280 or 1-800-463-9073
E-mail: claudie.lamontagne@dec-ced.gc.ca
Stéphanie Desforges
Senior Special Assistant, Communications
Office of the Honourable Denis Lebel
Canada Economic Development
Cell.: 514-496-1282
E-mail: stephanie.desforges@dec-ced.gc.ca
