Premier Tech investing in innovation
July 15, 2015, Rivière-du-Loup, Que. — Premier Tech is investing $45.9 million in a variety of innovation projects.
The company has signed a $8.3 million refundable contribution agreement with Canada Economic Development, assisting with the investment program.
MP Denis Lebel, minister of infrastructure, communities and intergovernmental affairs and minister of the Economic Development Agency of Canada for Quebec, was on hand for the signing ceremony.
Premier Tech’s new three-year Innovation, Research and Development (IR&D) program, named IDEE – Innovation and Development for Elevating Exportations – will allow the company to accelerate the technological and commercial progression of its three groups through 24 distinct IR&D initiatives.
The program will help create 45 Canadian jobs, mainly in in the Rivière-du-Loup region.
Premier Tech has identified promising development niches and will implement a unique and significant IR&D capacity in its three core industries at the international level.
“Our continued and sustained investments in innovation have fueled our commercial successes and allowed us to record an annualized growth rate of 11.5 per cent over the last 25 years,” said Bernard Bélanger, chairman of the board and chief executive officer.
“This new partnership with Canada Economic Development will give us the latitude to fully leverage our innovation capacities as well as the potential of the business sectors targeted by IDEE.”
ABOUT PREMIER TECH
Premier Tech, with total sales of $600 million, focuses its efforts in three core industries:
• Horticulture and agriculture – greenhouse production, agriculture and lawn and garden.
• Industrial equipment – rigid and flexible packaging, material handling and palletizing.
• Environmental technologies – wastewater treatment and rainwater harvesting.