Federal Support for Kap Paper
The federal government has announced $10 million in funding to aid struggling Kap Paper.
The funding, provided by FedNor, will be in the form of conditionally repayable funds, meaning the grant must be repaid according to conditions outlined in the agreement.
Kap Paper is proud to provide good jobs for people in Kapuskasing and beyond. Thanks to support from FedNor and the Government of Canada, we will adapt to present-day changes in order to continue growing and supporting a critical industry in the region. - Terry Skiffington, Kap Paper's CEO
The funds will be used to maintain operations, explore new production opportunities, and proceed with business planning, engineering, and development work.
Author's summary: Kap Paper receives $10M aid.