15 October 2013

The Québec government has announced that Neptune Technologies & Bioressources will receive a $12.5 million loan. This loan will be used to reopen its Sherbrooke plant, which is a project amounting to $43 million.

The interest-free loan from Investissement Québec will ultimately help create and consolidate 140 jobs, including nearly 100 at the Sherbrooke plant.

The plant on Pépin Street is scheduled to be reopened in early 2014.

Neptune Technologies & Bioressources specializes in producing and formulating marine biomass products, such as krill-based oil, for the nutraceutical and pharmaceutical markets.

The loan was announced by Québec Premier Pauline Marois, accompanied by Élaine Zakaïb, Minister for Industrial Policy, and the Banque de développement économique du Québec.

“Neptune Technologies & Bioressources is a recognized leader in natural health products, which is a fast-growing industry in Québec and internationally,” stated Pauline Marois. “I am especially proud to see the Sherbrooke plant reopening. This will help keep Québec at the forefront of this very promising field and provide jobs for many of the employees affected by last November’s tragic events. It is great news for the Estrie region.”

Sources: Government of Québec and La Tribune