Ontario's Conestoga Meats gets $10M interest-free loan from the federal government

Federal minister of  Agriculture and Agri-food Marie-Claude Bibeau was on hand at St. Breslau, Ont., to announce a repayable interest-free loan of $10 million for Ontario pork processor Conestoga Meats.

“Conestoga Meats and its farmer-owners are very appreciative of the interest-free loan that the Government of Canada is making to our business,” says Arnold Drung, president of Conestoga Meats in a news release. “This is helping us enhance our production capabilities which will allow Conestoga to export more product and create additional jobs in our community.”

The loan was made under the Canadian Agricultural Partnership, AgriInnovate program. The money will be used to help the company upgrade its facilities and install a state-of-the art cooling system. The custom-built system will allow for more controlled temperature reduction and will also reduce processing time and improve overall product shelf life, the company says.

In 2018, Canada’s pork sector exports were valued at $4 billion, making Canada a top-three exporter of pork in the world. Conestoga Meats is the second largest pork processor in Ontario and Canada’s fifth largest pork packer.

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