Conestoga meats invests in productionApril 26, 2019 8:00am
By Ashley Ferraro
Conestoga Meats in Breslau hosted the Minister of Agriculture and Agri-Food, Marie-Claude Bibeau on Thursday.
The government will be giving a “repayable contribution” of up to $10-million to Conestoga Meats.
The company is in the process of expanding their facilities to fill the demand for international need. It is Canada’s fifth largest pork packer and plans on using the interest-free loan to upgrade facilities and to install a state-of-the-art cooling system.
President of Conestoga Meats, Arnold Drung, says that the company has experienced increased demand.
“The Japanese market has been growing over the last number of years so we’re participating in that growth. Canada is also taking a larger share in that business, partially driven by the fact that we have the CPTPP agreement, so the tariffs on Canadian pork are declining and that gives us more opportunity in that market,” said Drung.
The new investment aims to increase production and to improve export opportunities.
“So we are using this for the expansion of our facility and addition of new equipment. It has allowed us to put more into the expansion. We had a fairly extensive list of things that we wanted to do and the financing of that was important and the government of Canada’s investment has been helping us to bring that to fruition,” added Drung.
The loan falls under the Canadian Agricultural Partnership, which is a five year, 3 billion-dollar investment by federal, provincial and territorial governments.