Investments aim to help Saint John company increase production17 March 2023
SAINT JOHN (GNB) – The provincial and federal governments today announced a combined investment of $800,000 to support the continued growth of Crosby Molasses Company Ltd.
The provincial government, through Opportunities NB, will invest $250,000 while the Atlantic Canada Opportunities Agency (ACOA) will contribute the remaining $550,000.
“We are proud to be supporting Crosby’s increased production through automation to meet demand and increase provincial exports in partnership with ACOA,” said Arlene Dunn, minister responsible for Opportunities NB. “Productivity improvements are a key driver to helping New Brunswick businesses grow, succeed and continue contributing to our province’s economic success.”
The investment will help the company, which was established in 1879, purchase specialized equipment and hire a supply chain manager. These projects will allow the company to increase its contract manufacturing business, increase production capacity by 15 per cent and expand its Canadian customer base.
“Crosby’s is a leading family-owned and operated food company in Saint John that has contributed to the regional economy for many years and is a great source of pride for this city,” said Saint John-Rothesay MP Wayne Long. “I am pleased to see our government’s support for this company as it improves operations, secures markets, and in doing so, strengthens the economy both locally and internationally.”
Long attended the announcement for Official Languages Minister and minister responsible for ACOA Ginette Petitpas Taylor.
The food and beverage processing industry is the second largest manufacturing industry in Canada. Crosby’s is best known for the processing, packaging and sale of molasses.
“Crosby Molasses enjoys a longstanding relationship with ACOA and the Province of New Brunswick,” said James Crosby, company president. “We truly appreciate their financial support on this automation project. The installation of the robotic cartoner and palletizer will allow us to increase our production, in an already 24/7 operation, meeting the expanding needs of our customers.”17-03-23