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The Quebec government is buying a $150-million stake in Olymel, in part with a fund designed to keep headquarters in the province.
The St-Hyacinthe company will receive $74 million from the Fonds pour la croissance des entreprises québécoises and $76 million from Investissement Québec.
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The company will use the money on projects valued at $315 million. It wants to improve the efficiency of its operational equipment in its factories, update its computer systems, upgrade two chicken slaughterhouses to allow on-site prepackaging, and add a second shift to its pork processing plant in Ange-Gardien.
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