Canadian govt. loans millions to three processors
OTTAWA, Ontario – More than $8 million for three new projects designed to help improve meat processing facilities and increase profitability for the entire Canadian livestock sector was announced by Agriculture Minister Gerry Ritz.
The three projects include:
- Montpak International of Laval, Quebec, has received more than $3 million toward the purchase and installation of equipment for a new processing facility.
- St. Ann's Foods of Etobicoke, Ontario has received almost $3 million to expand their facility to include value-added production lines for steak cuts, meat balls, burgers and meatloaves.
- Les Viandes du Breton of Riviere-du-Loup, Quebec will receive $2 million for the purchase and installation of automated equipment.
These smart investments have been delivered through Canada's Economic Action Plan and its $60 million Slaughter Improvement Program (SIP). SIP provides federal repayable contributions available to support sound business plans aimed at reducing costs, increasing revenues and improving operations of meat packing and processing operations in Canada.