HOYT (CNB) - Government support through conversion of a $200,000
loan guarantee into preferred shares has been received by Technico
Technologies Inc.,
a seed-potato producer. Business New Brunswick Minister Greg Byrne made
the announcement today.
"Our government is committed to helping New Brunswick companies as
they invest in their future," said Byrne. "We are partnering with the
private sector to
help companies such as Technico Technologies be more productive, be
more competitive, and be more successful in our province. The
conversion of the loan
guarantee to preferred shares will ensure that this company can invest
in its operations and continue to be innovative and produce globally
competitive
products."
Technico Technologies Inc. is an Australian company that delivers
supply-chain solutions to the potato industry, producing disease-free
seed potatoes in less
than half the time of traditional processes. It produces TECHNITUBER®
seed and early generation field seed potatoes for resale to commercial
seed growers
in the industry.
The company currently employs six people at its Hoyt location, and
has other operations in Canada, Australia, China, India, Africa, and
the Middle East.
"Today's announcement is another example of how the Government
of New Brunswick has been fulfilling its commitment to assist New
Brunswick industry,"
Byrne said. "Support has already been given to other companies such as
AL-PACK Industries, the Floating Pipeline Co., and the
Flakeboard Co. as they
invested in their operations."
08/09/05
MEDIA CONTACT: Ryan Donaghy, communications, Business New Brunswick,     506-453-2694 .
08/09/05 |
