Part of the New Leaf Essentials property in Slemon Park behind a concrete barricade. The company went into receivership earlier this year. An initial offer of sale failed to garner any acceptable bids and the property and its assets remain for sale. - Colin MacLeanSUMMERSIDE, P.E.I. — The former W. A. Grain and Pulse Solutions facility in Slemon Park has found a buyer.
Mary Pound, the company’s senior administrative manager, stated the acquisition of the Slemon Park facility will allow ADDiCAN to expand its manufacturing and bulk product holding capabilities for North American and international markets.The company plans to invest in new technology at the facility and wants to eventually hire an estimated 45 positions.
When W.A. Grain and Pulse Solutions entered receivership, it owed the taxpayers of P.E.I. nearly $4 million after various government investments into the Slemon Park facility. In an emailed statement, Finance P.E.I. confirmed that it had worked with the receiver, Pricewaterhouse Coopers, to find a buyer for the property. The proceeds of the sale were applied against the mortgage and the taxpayers have been repaid. The province no longer holds a security position or mortgage on the property.
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