XML FeedsSexton Lumber Company receives provincial loan
Aug 29, 2009 | In Funding Announcements | Send feedback »
The Sexton Lumber Company, of Lethbridge, Bonavista Bay, Newfoundland, will be receiving a $2.25 million loan from the Newfoundland and Labrador provincial government.
The interest-free loan will be used by the Sexton Lumber Company to modernize their sawmill.
Natural Resources Minister Kathy Dunderdale said, "Sexton Lumber has worked hard to maintain its lumber production in tough economic times. With this funding, we are supporting this company’s strategy of continuous improvements in their operation, which may lead to new product and market development opportunities and additional employment.”
The loan will be used to maintain 70 jobs at the lumber plant and another 105 jobs within the Bonavista Peninsula’s forestry industry.
The loan will be repaid over 15 years.
Source:
Loan to sawmill will help make the chips fly for company (The Telegram)
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