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WestBond announces capital expansion
July 2nd 2002
WestBond Enterprises Corporation is pleased to announce it has initiated a $300,000 capital expansion program for the purchase and installation of equipment designed to produce paper products for personal hygiene. The project will be completely financed by the Business Development Bank of Canada with some of the equipment scheduled for startup as soon as July 31, 2002. The remainder of the machinery will be operational by the end of September 2002.
This will be WestBond's second major capital investment in less than two years. The prior expansion of $325,000 enabled the company to enter into the high-volume industrial personal hygiene paper market and in just seven months of operation, is already contributing over 25 per cent of the company's monthly sales. With the addition of the current expansion, WestBond will have the capacity to produce over 600,000 additional cases annually. The company's current sales volume is just over 85,000 cases per year. WestBond is a leading producer of disposable paper products for the health care market servicing major medical distributors in Canada and the United States. The addition of the new equipment will allow the company to diversify into a market that will contribute high volumes to the existing product line.



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