2 Sussex companies set to expand
with funding from ACOA
Timberparts Ltd. and Kings County Mechanical Ltd. both
getting $500K repayable contributions
Sussex, two companies will expand and increase their
productivity and efficiency for the New Year, with Christmas gifts in advance
by the federal government, announced Monday.
Timberparts Ltd., a remanufactured aftermarket company that specializes in the refurbishment and the repowering of manufactured products, will build a new plant of 13,000 square feet and the purchase of a 10 ton crane with a repayable contribution of $500000 of Opportunities Agency Atlantic Canada Opportunities Agency (ACOA).
Kings County Mechanical Ltd., a welding shop and manufacturing company, will acquire the building it currently leases, purchase of equipment and construction of a small building adjacent to the current paint shop with its $ 500,000 repayable contribution from ACOA.
In addition, the company will receive a $ 12,375 from the government to hire experts in productivity to improve the layout of the plant in an effort to reduce waste and increase efficiency.
"Our government is committed to creating jobs and economic growth, while returning to a balanced budget," regional minister for New Brunswick and Minister of State (Atlantic Canada Opportunities Agency) Rob Moore said in a statement.
"Our support for Timberparts Limited and Kings County Mechanical Limited will help these two companies in the Sussex area grow their businesses, improve their productivity and efficiency and diversify their markets, helping them to grow and contribute more to the economy of our region.”
Timberparts, whose clients are mainly in the forest industry is actively seeking to expand its markets and is now attracting mining companies, industry and construction.
Timberparts invests $ 711,525 in the project.
Kings County Mechanical, which serves about 400 New Brunswick customers in the sectors of construction, mining and energy, is a kick in approximately $ 454 125 of his own money.
Timberparts Ltd., a remanufactured aftermarket company that specializes in the refurbishment and the repowering of manufactured products, will build a new plant of 13,000 square feet and the purchase of a 10 ton crane with a repayable contribution of $500000 of Opportunities Agency Atlantic Canada Opportunities Agency (ACOA).
Kings County Mechanical Ltd., a welding shop and manufacturing company, will acquire the building it currently leases, purchase of equipment and construction of a small building adjacent to the current paint shop with its $ 500,000 repayable contribution from ACOA.
In addition, the company will receive a $ 12,375 from the government to hire experts in productivity to improve the layout of the plant in an effort to reduce waste and increase efficiency.
"Our government is committed to creating jobs and economic growth, while returning to a balanced budget," regional minister for New Brunswick and Minister of State (Atlantic Canada Opportunities Agency) Rob Moore said in a statement.
"Our support for Timberparts Limited and Kings County Mechanical Limited will help these two companies in the Sussex area grow their businesses, improve their productivity and efficiency and diversify their markets, helping them to grow and contribute more to the economy of our region.”
Timberparts, whose clients are mainly in the forest industry is actively seeking to expand its markets and is now attracting mining companies, industry and construction.
Timberparts invests $ 711,525 in the project.
Kings County Mechanical, which serves about 400 New Brunswick customers in the sectors of construction, mining and energy, is a kick in approximately $ 454 125 of his own money.
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