Fortius Canada Inc. officially opened its new 25,000 square foot processing plant in Charlottetown today. Located in the Charlottetown Airport Business Park, the facility houses office space, a library, separate manufacturing for both human and animal products, warehousing, as well as a shipping and receiving area.
Founded in Calgary, Alberta in 1996, Fortius Canada specializes in a wide range of nutraceutical products including nutritional and sports-related supplements for humans and natural products for commercial animals and pets. Fortius Canada's products are sold both nationally and internationally. Last year, company sales exceeded $2.5 million, 40 percent of which were international export sales.
"Fortius experienced explosive growth and we outgrew our facilities in Calgary. We needed a state-of-the-art plant as well as closer links to research facilities," said Alan Andreasen, Chief Executive Officer of Fortius Canada Inc.
"After all the comparisons were made, Prince Edward Island best met our future needs. In PEI, we have all the elements to launch us towards being a $25 million company. We have alliances in hand with UPEI and the Atlantic Veterinary College. We have a very stable and highly qualified workforce, and we also have excellent support from all levels of government."
Fortius Canada has been recognized for its impressive growth - twice named to Alberta Venture magazine's Top 10 list of growth companies and ranked 21st in Profit magazine's list of Hot Startups in 2000. In 1999, twin brothers Alan and Ian Andreasen, founders and owners of Fortius, were awarded the Business Development Bank of Canada's Young Entrepreneur Award.
"I am pleased to welcome Fortius Canada to Prince Edward Island. The nutraceutical industry is relatively new to the Island, and the establishment of such a recognized industry leader presents a great opportunity for the Island," said the Honourable Pat Binns, Premier of Prince Edward Island. "Fortius has received numerous accolades for their growth over the last five years, and there is no doubt that they will continue to thrive in the PEI business environment."
Over the next few years, the company will employ 25 people.
"Fortius was founded through a combination of innovation and entrepreneurial spirit. In its new Prince Edward Island facility, Fortius will not only continue to manufacture its popular nutraceutical product lines for humans and animals, but it will also seek to develop new and beneficial products," said Shawn Murphy, Member of Parliament for Hillsborough, on behalf of the Honourable Robert Thibault, Minister of State for the Atlantic Canada Opportunities Agency (ACOA).
The total cost of the project was $3.75 million. The Government of Prince Edward Island provided $400,000 through the Department of Development and Technology and a $1.75 million repayable loan through the Immigrant Investor Fund. The Government of Canada has provided a $500,000 repayable loan through ACOA's Business Development Program and a $200,000 contribution from HRDC.