Expansion plans for the Master Packaging Inc. plant in Borden-Carleton were announced today by representatives from the Government of Prince Edward Island and Master Packaging Inc.
The $18,000,000 expansion project will create an entirely new division of Master Packaging Inc. to produce folding cartons. It will include both the purchase of state-of-the-art equipment and an expansion of its existing Borden-Carleton facility. The company currently employs 33 people in Prince Edward Island. Once the expansion is completed, it will require up to an additional 70 employees.
"This project is a new opportunity for a completely new business that has similar product lines and synergies with our existing business, and it will benefit from the same type of modelled growth that is exhibited in our other operations," said Mary-Jean Irving, President of Master Packaging Inc. "Our company is pleased with the co-operation we have received from the province for this venture."
The Department of Development and Technology, through Prince Edward Island Business Development, has provided a $13,000,000 loan to help finance the building expansion and to acquire equipment.
"Master Packaging Inc. has proven to be a good employer with a strong employee-first philosophy and a reputable history of very low turnover," said the Honourable Michael F. Currie, Minister of Development and Technology. "Expansions such as this one offer new employment opportunities for Island workers and encourage economic development and manufacturing in the area."
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.