MacAusland's Woolen Mills gets funding for new equipment

MacAusland's Woolen Millsone of the Island's oldest operating businesses got some help today with the costs of replacing its aging equipment.

Two modern weaving looms

With a repayable contribution of up to $150,000 from the Atlantic Canada Opportunities Agency's Business Development Program and $10,000 from the P.E.I. government's Capital Assistance Acquisition Program, the company is purchasing two modern textile weaving looms to increase productivity.

'Backbone of the provincial economy'

"Small and medium sized business, like MacAusland's Woolen Mills, are the backbone of the provincial economy and our government is committed to supporting them," Heath MacDonald, P.E.I.'s minister of economic development and tourism, said in a press release.

"This investment will help accelerate growth, build capacity, and increase productivity for this long standing Island business, all conducive to government's plan to enhance our exports and grow our economy."

The company is known for making traditional blankets from 100-per-cent virgin wool.

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