Premier Tech

Premier Tech

November 14, 2006 10:49 ET

Premier Tech Launches ESSOR, its Latest Innovation, Research and Development Program

RIVIERE-DU-LOUP, QUEBEC--(CCNMatthews - Nov. 14, 2006) - Premier Tech (TSX:PLT.A) announced today the official launch of its ESSOR program, a major strategic initiative in Innovation, Research and Development (IR&D), in the presence of the Honourable Jean-Pierre Blackburn, Minister of Labour, Minister of the Economic Development Agency of Canada for the Regions of Quebec and Member of Parliament for the constituency of Jonquiere-Alma. This announcement follows the signing of financing agreements worth CA$19.1 M with Technology Partnerships Canada (TPC) and CA$9.9 M with Canada Economic Development (CED).

This new program is in line with Premier Tech's vision, which has banked for the last 20 years on its strategic initiatives in IR&D in order to maintain its technological leadership on the various markets in which it evolves.

Spanning over five years, ESSOR represents a total investment of CA$79.6 M. Through this major contribution to Premier Tech's IR&D activities, some 150 jobs will be created during the commercial phases and over 150 new products will be launched.

"These financing agreements for the ESSOR program will allow Premier Tech to develop brand-new technological platforms that will ensure unparalleled growth and expertise on the various markets covered by the Company. This is an important asset to Premier Tech's future," commented Jean Belanger, President and Chief Operating Officer of Premier Tech.

Premier Tech wishes to maintain these Innovation, Research and Development activities for they are at the very heart of its positioning and growth. This approach is essential to the whole organization and explains the Company's technological leadership in its various business sectors.

Corporate Profile

For more than 80 years, Premier Tech has been building its know-how and reputation on the various technology-oriented opportunities offered by sphagnum peat moss, an abundant natural resource in Canada. Its seven business units, gathered in three groups (Horticulture and Agriculture, Industrial Equipment and Environmental Technologies (have the mission to become technological and commercial leaders in their respective fields of expertise. Buoyed by a multidisciplinary team of over 1 500 people based in America, Europe and Asia, Premier Tech is building on the development of its personnel, on innovation, research and development, and on the introduction of value-added products. Its strategic approach is supported by ongoing worldwide market development efforts. Premier Tech shares are listed on the Toronto Stock Exchange, in Canada, under the symbol PTL.A.

Contact Information

  • Premier Tech
    Lynn Maurais
    Executive Assistant
    418-867-8883, Ext. 6336
    418-867-8297 (FAX)