Premier Tech

Premier Tech

June 26, 2008 15:24 ET

R&D partnerships: a clear success at Premier Tech

RIVIERE-DU-LOUP, QUEBEC--(Marketwire - June 26, 2008) - Premier Tech is proud to announce that today it has paid C$362 633.00 in royalties to Canada Economic Development as a repayment of the money advanced to support the Company's Innovation, Research and Development (IR&D) activities within the framework of the MOBILISATEUR II program.

In a risk sharing approach, the financial contribution of Technology Partnerships Canada, Canada Economic Development, as well as the Acadian Peninsula Economic Development Fund, in New Brunswick, has made it possible to carry out the IR&D activities of the MOBILISATEUR II program. These organizations participated in the program by making repayable contributions, advanced money that is later reimbursed to the lenders from the revenues generated by-among other things-products launched during the course of the program.

Based on the success of our IR&D programs, combined reimbursements for MOBILISATEUR I and II have now reached C$7 million. Let us recall that these two IR&D initiatives have had a considerable impact on the Company's results. In fact, they allowed Premier Tech to introduce close to 150 products, totaling revenues of over C$200 million.

IR&D activities are at the very heart of Premier Tech's positioning and future. In fact, IR&D is intrinsic to the entire organization. The importance attributed to this aspect explains the Company's technological leadership within its various business units.

Corporate Profile

For 85 years now, 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 1 600 people located 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.

Contact Information

  • Premier Tech
    Ms. Lynn Maurais
    Corporate Office Director
    418-867-8883, extension 6336
    418-862-6642 (FAX)