Province Invests in Global Leader in Packaging Equipment

The province is investing in GN Thermoforming, a Nova Scotia company that manufacturers equipment exported to countries around the world to make plastic packaging for the food industry.

Economic and Rural Development Minister Murray Scott announced today, April 29, a $2-million interest-bearing loan, through the Industrial Expansion Fund, that will help GN Thermoforming continue its success as a manufacturer and exporter.

"This investment will help a rural Nova Scotia company to continue to be competitive and maintain its valuable international markets during a challenging time in the global economy," said Mr. Scott.

GN Thermoforming was founded more than 30 years ago and employs 60 highly skilled people at its operations in Chester. Almost all of the equipment and tooling manufactured by the company is exported to 62 countries around the world, and used mostly to produce packaging for the food industry.

"This assistance from the province will help us maintain our position as a world leader in the design and manufacture of thermoforming machines," said Georg Nemeskéri, president of GN Thermoforming.

GN Thermoforming invested more than $1.5 million in research and development, including the design of equipment that makes more efficient use of recycled plastic materials in the packaging industry.

As a result of the world-wide economic and credit crisis, successful companies operating in Nova Scotia are experiencing challenges accessing capital from banks. With the Industrial Expansion Fund, the government of Nova Scotia is able to provide access to capital and help protect jobs and support businesses to be more competitive and sustainable.