Minister announces company's interest in Marystown Shipyard

June 4, 1997
(Industry, Trade and Technology)

Charles J. Furey, Minister of Industry, Trade and Technology announced today that Canadian Shipbuilding & Engineering Ltd. (CS&E) of Ontario has expressed an interest in possible involvement through joint venturing or direct ownership in the Marystown Shipyard.

CS&E is a major private shipbuilding company which has been operating successfully for over 100 years. With the owners approval, CS&E is placing a small team of employees at Marystown Shipyard Ltd. to thoroughly review the current operations so as to provide a basis in which to evaluate future investment in the yard.

Minister Furey is encouraged by the keen interest of a firm such as CS&E in Marystown as it indicates that others in the industry are aware of the recent productive developments at Marystown, and opens up new opportunities for potential work drawing on the strengths of both companies.

Contact: John Doody, Director of Communications, (709) 729-0050

1997 06 04

5:30 p.m.

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