FedDev Ontario recently made an announcement that will help a Newmarket company expand further into the biotech industry.
The Federal Minister of State for the Federal Development Agency for Southern Ontario toured the GUM Products International plant, where the firm announced that it would be getting a grant of $995,000 to help expand its research and development side.
The company currently produces carrageenan gum, which is a food stabilizer made from seaweed. It produces 180 tonnes of this substance per year, and it also produces different polysaccharides from plant seeds and a vinegar-based antimicrobial ingredient that is used in food to help preserve flavour and prevent spoilage.
Having launched in 1992 with just one employee, GUM Products International currently employs 48 employees and is active in eight countries around the world.
It is planning on using the funds to boost its research into developing a substance from bacteria that will inhibit the growth of other harmful and even dangerous bacteria in a variety of different foodstuffs. The plan is for this to take place in the new biotechnology facility, which is scheduled to be constructed on Pony Drive.
When a business undergoes this type of significant expansion, it can often find that it has a need for a variety of materials from a printing company to keep everything running smoothly.
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