Office of the Premier
Investments in Caraquet manufacturing facility23 February 2018
CARAQUET (GNB) – The provincial and federal governments are supporting the purchase of new equipment by a Caraquet manufacturing facility. Premier Tech Chronos, which designs and manufactures packaging for a variety of industries, purchased equipment aimed at increasing productivity, improving efficiency and creating new jobs.
“New Brunswick’s multi-year economic growth plan focuses our efforts on investing to help businesses in the province increase productivity so they can compete on an international scale,” said Premier Brian Gallant. “It is wonderful to have a company like Premier Tech Chronos grow in New Brunswick, in large part, because of our strong workforce. These investments create jobs so more New Brunswickers can stay here and come back to the province."
The company acquired plying computer numerical control equipment, as well as a milling machine. It also made other improvements to its processes and layout to help increase productivity.
The provincial and federal governments are combining to invest more than $1 million in the $2.25-million project.
Opportunities NB is investing $250,000 in the form of a non-repayable contribution with funding from the Regional Development Corporation’s New Brunswick Economic Development and Innovation Fund. Opportunities NB is a Crown corporation that seeks to attract and support opportunities to grow the economy and create jobs. It provides support services for businesses across the province.
The federal government, through the Atlantic Canada Opportunities Agency (ACOA), is providing repayable contributions totalling $800,000.
“The Government of Canada is pleased to support Premier Tech as it evolves and innovates to remain globally competitive, and continues growing,” said Acadie-Bathurst MP Serge Cormier. “This company has been an important contributor to our local economy for many years, creating jobs and bringing cutting-edge expertise in the peat moss industry into our community.”
Cormier attended for federal Innovation, Science and Economic Development Minister Navdeep Bains, who is also the minister responsible for ACOA.
The company, a subsidiary of Quebec-based Premier Tech, is one of the largest industrial flexible packaging equipment manufacturers in the industry and expanded into New Brunswick in 1998. Its investment in this equipment helped the company to create 27 new jobs. It now employs 56 people in Caraquet. Premier Tech Horticulture, an affiliated company, employs 88 people at its facility in Rexton.
“This investment reinforces Premier Tech’s manufacturing presence in New Brunswick and has significant impacts on the competitiveness of our plant,” said Premier Tech’s president and chief operating officer Jean Bélanger. “Such a major project not only allowed for the creation of 27 new jobs, but also led to the implementation of high-end manufacturing technologies that increased our capacity in Caraquet.”