Nova Scotia invests $10 million in Harry Freeman and Sons Ltd.
Apr 15, 2011. The province of Nova Scotia, Canada, is investing $10 million in Harry Freeman and Sons Ltd., who operates Freeman Lumber in Queens County.
Apr 15, 2011. /Lesprom Network/. The province of Nova Scotia, Canada, is investing $10 million in Harry Freeman and Sons Ltd., who operates Freeman Lumber in Queens County.
This is a third investment in the company from the province in recent years. The first short term interest bearing loan was in January, 2009, and the second was in December 2010. Both were for $750,000.
Over the last six years, the company has spent $18 million to modernize its facility. This latest, fully-secured investment, will ensure Freeman Lumber’s previous investments continue to result in improved efficiencies.
“Through this investment, we are supporting 125 quality jobs in rural Queens County, and the local suppliers that do business with this long-standing company,” said Percy Paris, Nova Scotia’s Economic and Rural Development and Tourism minister.
“Freeman Lumber is one of the most efficient and flexible sawmills in Atlantic Canada,” said co-owner Richard Freeman. “This investment will help us reduce our costs, and become even more competitive in the global marketplace.”
Established in 1832, Freeman Lumber operates a sawmill, dry kiln, and planing and moulding facility in Greenfield, Queens County. The company has a payroll in excess of $4 million per year and purchases more than $16 million in goods and services each year from local suppliers.