November 14, 2005
For immediate release
Latest Master Packaging Inc Expansion Will Create 58 New Jobs at Borden-Carleton Operation
Development and Technology
The $14,000,000 expansion will see the construction of an additional 25,000 sq ft to their existing facilities, as well as the installation of new equipment to expand the company’s domestic and international trade markets. The company currently employs 70 employees, and this latest expansion will bring the total number of employees to 128.
“Expansions such as this one offer new employment opportunities for Island workers and encourage economic development and manufacturing opportunities throughout the province,” said Premier Binns. “This demonstrates our government’s continued commitment to providing jobs in rural Prince Edward Island.”
“Master Packaging appreciates this tremendous vote of confidence in our operations from the Province,” said Mary Jean Irving, President of Master Packaging. “This expansion is a real tribute to the quality work and skill of our great team of Island employees. We are proud to be growing our business and new jobs on the Island, and look forward to serving an expanded customer base with quality packaging made in Borden.”
The Department of Development and Technology, through Prince Edward Island Business Development Inc, has provided a $10,000,000 loan to help finance the building expansion and to acquire equipment. The interest-bearing loan will be repaid in five years.
“Our government continues to work hard to create new jobs and opportunities for Islanders and we are very pleased to bring 58 new, full-time jobs to Borden-Carleton,” said Minister Currie.
Master Packaging Inc. is a successful, fully-integrated box company with a full-scale box plant in Dieppe, New Brunswick and a sheet plant in Borden-Carleton, Prince Edward Island.