Business New Brunswick

Province supports Technico Technologies (08/09/05)

NB 1277

Sept. 5, 2008

HOYT (CNB) - Government support through conversion of a $200,000 loan guarantee into preferred shares has been received by Technico Technologies Inc., a seed-potato producer. Business New Brunswick Minister Greg Byrne made the announcement today.

"Our government is committed to helping New Brunswick companies as they invest in their future," said Byrne. "We are partnering with the private sector to help companies such as Technico Technologies be more productive, be more competitive, and be more successful in our province. The conversion of the loan guarantee to preferred shares will ensure that this company can invest in its operations and continue to be innovative and produce globally competitive products."

Technico Technologies Inc. is an Australian company that delivers supply-chain solutions to the potato industry, producing disease-free seed potatoes in less than half the time of traditional processes. It produces TECHNITUBER® seed and early generation field seed potatoes for resale to commercial seed growers in the industry.

The company currently employs six people at its Hoyt location, and has other operations in Canada, Australia, China, India, Africa, and the Middle East.

"Today's announcement is another example of how the Government of New Brunswick has been fulfilling its commitment to assist New Brunswick industry," Byrne said. "Support has already been given to other companies such as AL-PACK Industries, the Floating Pipeline Co., and the Flakeboard Co. as they invested in their operations."


MEDIA CONTACT: Ryan Donaghy, communications, Business New Brunswick, 506-453-2694.