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November 13, 2006 PROVINCE PROVIDES $3-MILLION LOAN FOR NEW $14.6-MILLION PEAT MOSS PACKAGING PLANT– – –Plant Expected to Bring up to 57 Jobs to Southeastern Manitoba: Smith The province of Manitoba is helping pave the way for a $14.6-million peat moss packaging plant in Richer with a $3-million loan to Premier Horticulture Ltd., Competitiveness, Training and Trade Minister Scott Smith announced today.
“The $3 million is a secured, repayable loan and will be used to help rebuild and relocate Premier’s peat moss packaging plant,” said Smith. “The province supports initiatives that provide economic growth and create jobs in rural communities.”
The repayable, interest-bearing loan is made through the Manitoba Industrial Opportunities Program (MIOP). MIOP provides secured, repayable loans to companies wishing to create new jobs by expanding or upgrading their Manitoba operations.
“Manitoba has one of Canada’s most diversified economies, helping to make our province one of the most stable economic performers in the country,” said Transportation and Infrastructure Minister Ron Lemieux, speaking in Richer today. “Manitoba is a great place to do business with its strategic location, competitive taxes and low cost of doing business.”
The loan will help Premier Horticulture replace its peat moss packaging plant in Giroux which was lost to fire in 2005. The company is one of North America’s largest producers and distributors of peat moss. It operates harvesting and packaging sites in Minnesota, Saskatchewan, Alberta, Quebec and New Brunswick.
“The new strategic location will improve our business potential through a better access to transportation in order to serve our various markets,” said Bernard Bélanger, board chair and chief executive officer of Premier Tech.
Premier’s main markets include all of North America as well as Japan, Central and South America and various other countries. The company’s products are sold in commercial/industrial markets as well as the mass retail market through garden and home centres.
The new plant is expected to employ up to 57 residents from the Richer area and will have an annual payroll of approximately $2.2 million.
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