Two manufacturing companies can take the next step in innovation and sustainability thanks to a cash injection from the Government’s Regional Strategic Partnership Fund.
Economic and Regional Development Minister Stuart Nash announced the funding at Techlam last Wednesday morning as part of the Government’s approach of supporting innovative businesses that are creating wealth and jobs in the regions.
The fund has given a $1.7 million loan to timber company Techlam in Levin to install machinery for reducing manufacturing waste by 25% and turning waste into value-added products. It is also giving $2m as a loan or equity to Plentyful, in order build a manufacturing facility for sustainable plastic products in Marton.
Managing director of Techlam, Brett Hamilton, said the funding was part of a $3.5m project, which would take the company to the next level and allow it to grow with the market.
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