Victorian Manufacturing Minister David Hodgett has announced a $250,000 new technology grant for Cheltenham food manufacturer Corvina Foods to help the company buy state-of-the-art equipment that will boost its global competitiveness.
The grant is from the Investing in Manufacturing Technology (IMT) program which has already given $9.9 million to 59 businesses, to support investments of $45.8 million, during the grants first three rounds.
“Corvina will use the grant to help purchase and install a state-of-the-art chocolate depositor for improving quality, a high-speed sorting and wrapping line and an upgrade of the existing chocolate coating line at its plant in Cheltenham,” Mr Hodgett said in a media release.
“This will increase exports by more than $500,000 a year, create 30 new jobs and transition 12 existing jobs to higher duties. That is great news for the Victorian economy.”
Corvina Foods is a privately owned Australian company with over 35 years experience in food manufacturing. The company manufactures protein bars, granola bars, weight loss & meal replacements, and chocolates, among others.
Member for Mordialloc Lorraine Wreford, who joined Mr Hodgett on his visit to Corvina Foods, said the funding will provide a great boost to the company and its workforce.
“To improve productivity and create 30 new jobs in the Cheltenham area is a great result for Corvina, and is another example of why these IMT grants have been so successful in supporting local manufacturing companies,” Ms Wreford said.
“We have a strong local manufacturing presence, but to meet the challenge of competitive international markets, manufacturers must look to increasing investment in new technology to remain competitive.”