Canada Economic Development

Canada Economic Development

March 09, 2012 10:30 ET

Government of Canada Lends Financial Support to Neptune Technologies & Bioressources

SHERBROOKE, QUEBEC--(Marketwire - March 9, 2012) - The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that the firm Neptune Technologies & Bioressources has been granted financial assistance to increase its productivity.

"The Government of Canada is giving real impetus to job creation with this concrete support to Neptune Technologies & Bioressources, an enterprise that has made a name for itself in a leading-edge sector and is undertaking a major expansion plan," says Minister Lebel.

Neptune Technologies & Bioressources specializes in the research, development and manufacture of nutraceutical and pharmaceutical products made from omega-3 and antioxidant-rich active ingredients extracted from marine biomass.

"In lending its financial support to Neptune Technologies, the Government of Canada is contributing to the growth of the Estrie economy," notes the Minister.

The company's products are sold in Canada as well as in the United States, Europe, Asia and Australia. As part of the project to expand its Estrie factory, Neptune Technologies & Bioressources will acquire specialized equipment that will enable the firm to nearly triple its production capacity and guarantee greater supply reliability to its customers.

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This financial assistance, granted in the form of a $3,500,000 repayable contribution, has been awarded through Canada Economic Development's Business and Regional Growth program.

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