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Irving gets millions more for box plant
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CBC News-An Irving-owned company that makes cardboard cartons has received another loan from the P.E.I. government.
Premier Robert Ghiz announced a $2.5 million loan for Master Packaging in Borden-Carleton at the foot of Confederation Bridge. It's the second provincial loan for Master Packaging in the last two years.
President and CEO Mary Jean Irving takes pride in having made her company one of the most modern folding carton plants in the country.
"It has to be modern to compete in today's world and marketplace," said Irving.
The company has major North American clients, Tim Hortons and several large breweries, and more than 100 clients on Prince Edward Island.
The $2.5 million loan is on top of a $14.5 million loan the Liberal government gave Master Packaging in 2009. Earlier this spring the province loaned Irving-owned Cavendish Farms $15 million to establish a compressed natural gas facility at its New Annan French fry plant.
Premier Robert Ghiz made no apologies for lending money to one of Canada's richest families.
"They pay it back, and the taxpayers make money off of them paying it back. So all the services you get to enjoy on a daily basis, the Irvings are helping to pay for that," said Ghiz.
"We allow Island businesses to do well and to create more jobs but at the same time we get to make money off loaning them the dollars."
Irving is pleased with her partnership with the provincial government.
"All of our loans from the government over the years have been repayable, and we've done that on time," she said.
"We wouldn't have been able to do things as fast as we could without their involvement."
Master Packaging employees about 180 people, and the most recent expansion will add another 20 jobs. The plant ships about 2,500 truckloads of cartons annually.
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