News Release - May 25, 1999
SASKATCHEWAN OPPORTUNITIES CORPORATION PURCHASES CANAMINO BUILDING
Economic and Co-operative Development Minister Janice MacKinnon, also
minister responsible for the Saskatchewan Opportunities Corporation
(SOCO), today announced the establishment of the Innovation Place
Bioprocessing Centre in Saskatoon at a cost of $1,230,000.
SOCO will operate the facility as part of Innovation Place's technical
and scientific infrastructure to serve the Saskatchewan agricultural
biotechnology sector and the fledgling nutraceutical and
pharmaceutical sectors. Initially five jobs will be created with
additional positions added as demand warrants.
"The acquisition of this facility secures another piece of
infrastructure necessary to support the ongoing development of the
value-added processing sector in Saskatchewan," MacKinnon said. "It
will provide the much-needed specialized processing required for these
industries to mature."
SOCO has purchased the former processing facility operated by Canamino
and will operate it on a toll contract processing basis. Several
Saskatoon companies in the agricultural biotechnology and
nutraceutical industry, such as Fytokem and Bioriginal Food and
Science Corp., have expressed their intention to use the facility
throughout the year for contract processing of their product. In
addition the Saskatchewan Research Council is interested in using the
facility to develop new processes for its clients.
"Fytokem is developing plans for ongoing processing capability,"
said John Schaw, president of Fytokem. "Our processing demand
for existing products is expected to grow from 10 tonnes of input
in 1999 to 80 tonnes in 2004. Having access to a local toll
processor like this would be extremely beneficial as it allows a
company like ours to defer major capital expenses."
Dennis Trumpy, manager of custom processing at the POS Pilot
Plant said, "Opening this facility on a fee for use basis will
create a larger scale processing facility in our province to
complement POS' capabilities. We have reviewed the facility's
capabilities with our senior scientific staff and see at least
three broad areas of utilization that could interest fourteen
MacKinnon said, "This building will complement the capability of
the POS Pilot Plant, by acting as a higher volume toll processing
facility, thereby delaying the need for local companies to invest
in their own facilities, until they have proven their processes
and their markets; that significantly increases their chances of
For more information, contact:
Director of Corporate Affairs