The Prince Edward Island government, through Finance PEI, is lending Master Packaging $7.1 million to expand its cardboard box plant in Borden, reports The Guardian.
The $7.1 million from the province is an interest-bearing, repayable loan.
Master Packaging said the expansion will give it more capacity to increase production, serve new customers and train staff, and will result in 24 new jobs.
“Today we are not only investing in 24 new jobs and the best equipment to expand our capacity and markets, we are also investing in a new training facility to develop the skills of our employees and improve our productivity,”Master Packaging President and CEOMary Jean Irving said.
“The training facility will be equipped with computer labs where employees will take advantage of international webinars and be the first in Canada and North America to train for – and achieve – the world-class, independent, professional designation for Flexographic printing. This training will enhance the international award-winning efforts of the Master Packaging team here in Borden.”