German $2 Million 400 Thousand Loan Reinvigorate Monckton'S Hundred Years Old Textile Mill

The 100 year old textile factory in New Brunswick (New Brunswick) was closed in 2005. Now the government will provide loans to help the factory restart.

On Thursday, the provincial government of New Brunswick announced that it would provide $1 million 430 thousand forgivable loans and $1 million in regular loans for Monckton Moncton textile Tandem, New Brunswick.

The money will be used to help factories invest capital, promote business and improve environmental and water cycle equipment.

Greg Byrne, the governor of the province, said helping the Tandem textile industry to re start work would create job opportunities and promote environmental protection in factories. The government is proud of this investment.

The factory will resume work under the new inheritance and development relationship and create 44 jobs, which will produce woven upholstery fabrics.

The responsible person said, we are working hard to update the plant's equipment and help it return to the international market with the image of high-end products, fully integrated and green manufacturing enterprises.