The Government of Canada is helping to open new markets for Manitoba beef by conditionally approving a loan of up to $10 million to Keystone Processors Ltd. to upgrade a beef processing plant. This is a key initiative under the Slaughter Improvement Program, part of Canada’s Economic Action Plan.
The Manitoba Cattle Enhancement Council (MCEC) also announced today a further investment of $7.5 million for Keystone Processors Ltd.
“Canadian livestock producers have a great product to sell, and there is growing demand worldwide,” said Federal Agriculture Minister Gerry Ritz. “That is why our Government continues to work in partnership with provinces to help producers and packers coast to coast capture new opportunities beyond our shores.”
“We have recognized the importance of increasing slaughter capacity in Manitoba and through our government’s establishment of the Manitoba Cattle Enhancement Council (MCEC) we are creating working partnerships with the council, industry and governments that are key to building our processing capacity,” said Minister of Agriculture, Food and Rural Initiatives Rosann Wowchuk. “When we build on beef processing in our province, we are opening the door to our producers for new markets and new jobs.”
In 2008, Keystone Processors Ltd. – a Winnipeg processing company – purchased a former federal hog processing facility and converted it into a provincially licensed beef processing facility. This loan will help Keystone Processors bring the plant up to federal and European Union certification standards.
“Investing in a stronger meat packing and processing sector in Canada benefits the entire value chain,” said Minister Vic Toews, President of the Treasury Board and Regional Minister for Manitoba. “If packers are profitable and competitive, our farmers will benefit through stronger markets, and our economy will benefit through new jobs.”
The $50-million Slaughter Improvement Program makes federal repayable contributions available to support sound business plans aimed at reducing costs, increasing revenues and improving operations of meat packing and processing operations in Canada.
Federal and MCEC funding is subject to Keystone Processors Ltd. meeting specific conditions set out by the federal government and MCEC related to their project proposal and the signing of a funding agreement.
