Alberta backs newsprint mill's C$50M expansion with C$1.5M grant
What's the deal? The Government of AlbertaDealroom has a profile for this one. Try Dealroom → is investing more than C$1.5 million through its Investment and Growth Fund in Alberta Newsprint CompanyDealroom has a profile for this one. Try Dealroom → to help secure a nearly C$50-million expansion of its Whitecourt facility. The grant will modernize the mill, letting it produce multiple grades of paper.
What's the endgame? Alberta Newsprint Company is the province's only newsprint mill, turning Alberta wood fibre into paper products. The upgrade lets it manufacture higher-value goods and compete in evolving markets.
Why now? The forestry sector faces shifting demand for paper. Modernizing the plant is meant to keep the company competitive and diversify its product line beyond newsprint.
By the numbers: The expansion will create 13 permanent full-time jobs and 25 temporary construction jobs, while helping retain more than 220 existing positions.
“This investment strengthens our forestry sector, supports jobs in rural communities and reinforces that Alberta is the best place to do business,” said Joseph Schow, minister of jobs, economy, trade and immigration.
Mike Putzke, general manager of Alberta Newsprint Company, said the funding “helps position our Whitecourt facility for long-term competitiveness” as the company diversifies its products and strengthens operations.
The signal: The grant sits in the lower-middle range for deal size, a modest public stake designed to unlock a much larger private outlay. For Alberta, it is a bet on keeping rural forestry jobs and a single mill viable as the paper market changes around it.
Read more: PuP+Paper News
Image credit: Andrew Scheer
