Canada Economic Development for Quebec Regions

Canada Economic Development for Quebec Regions

July 14, 2015 10:30 ET

Government of Canada Supports Growth of Premier Tech Ltd

Riviere-du-Loup enterprise granted funding from Canada Economic Development for Quebec Regions to pursue expansion

RIVIÈRE-DU-LOUP, QUEBEC--(Marketwired - July 14, 2015) - Canada Economic Development for Quebec Regions (CED)

The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that Premier Tech Ltd has been granted financial assistance to ensure its growth with a major research and development project.

This support is being awarded in the form of an $8,231,870 repayable financial contribution through CED's Quebec Economic Development Program.

Quick facts

  • Founded in 1923, Premier Tech Ltd is a Rivière-du-Loup enterprise that has built its know-how from the various technology-oriented aspects of sphagnum peat moss exploitation and by drawing on the expertise and synergy of its three groups: Horticulture and Agriculture, Industrial Equipment and Environmental Technologies.
  • The aim of the project is to strengthen the company's performance through a major three-year plan that will involve the development of innovative products and processes, commercialization on foreign markets and the acquisition of specialized equipment.
  • The funding from CED will serve exclusively for costs associated with the product and process development activities.

Quotes

"By investing in the development of Premier Tech's innovations, our government is showing once again that it is determined to take the necessary measures to increase the growth potential of our economy."

Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec

"The IDEE program, through the planned IR&D investments, will allow the continued growth of Premier Tech and its three Groups. IDEE is structured around 24 distinct initiatives that will strengthen our performance through technological advances in targeted sectors allowing us to intensify our Canadian activities as well as our exportations. IR&D has influenced our growth and positioning so much over the last 25 years that we like to say it's fused into Premier Tech's genetic code. We began our IR&D efforts in 1983 with the establishment of our first research centre. Today, more than 225 team members in eight countries dedicate their energies to IR&D everyday."

Bernard Bélanger, Chairman of the Board and Chief Executive Officer, Premier Tech

Related link

Premier Tech Website: www.premiertech.com

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