Loewen signs federal deal

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This article was published 30/06/2014 (4363 days ago), so information in it may no longer be current.

Steinbach window and door manufacturer, Loewen, has been approved for participation in the Western Innovation Initiative (WINN), a five year $100 million federal initiative, administered by Western Economic Diversification Canada (WD) to offer repayable loans to small and medium-sized business in Western Canada, to assist with commercialization of new and innovative technologies to the marketplace.

On Friday, the federal government announced a total of $21 million in loans for 27 projects in Manitoba, Saskatchewan, Alberta and British Columbia. Loewen will receive a $1.3 million loan through the program.

“The company is very excited to receive access to the repayable loan capital from WD. Initiatives and programs such as WINN, the Industrial Research Innovation Program, Manitoba Entrepreneurship, Training and Trade and YES Winnipeg are well targeted to support companies which can drive innovation, economic development and jobs growth in the region,” said senior vice-president of product Clyde Loewen in a release.

The WINN loan will support commercialization of advancements in window and door designs and technology at Loewen which is expected to lead to increased employment in the Steinbach region through increasing sales of Loewen products.