Atlantic Fine Yarns Inc. Secures Plans for New Mill

Atlantic Fine Yarns Inc., a subsidiary of Sunflag Group Inc., announced plans to create a $150-million ring-spinning mill in Pokemouche, Canada, making it the largest manufacturing facility in the province.

It will measure 11 football fields in size, produce three million kilometers of yarn a day, and create 350 jobs for New Brunswick's most economically depressed region.

''New Brunswick will be a stronger province when we ensure that every region of this province is strong and prosperous – and that includes here the Acadian Peninsula,'' Premier Bernard Lord told 400 people crammed into a local recreation hall.

Lord's government is guaranteeing a CND$40-million loan to the company, a portion which will come from the Regional Development Corp.'s Acadian Peninsula Economic Development Fund.

Pasqual Alles, vice-president of Atlantic Fine Yarns said "the facility will be the largest modern spinning factory in Canada."

Completion of the 45,000 m² facility is expected sometime in 2001.

Atlantic Fine Yarns is a sister company of Atholville's Atlantic Yarns Inc., operating an open-end spinning mill since the beginning of January, 1998.