March 24, 1998
(Industry, Trade and Technology)
The following statement was issued today by Judy Foote, Minister of Industry, Trade and Technology. It was also read in the House of Assembly:
My honourable colleagues will recall that earlier this year, Friede Goldman International, a private sector company based in Pascagoula, Mississippi, acquired the assets of Marystown Shipyard Limited.
I am pleased to advise my honourable colleagues that employment levels at the new company, Friede Goldman Newfoundland Limited, are continuing to climb, and currently stand at just over 850. Employment at this time last year was just over 300. The increase in work at the yard has resulted in a management decision to implement a third shift which took place on March 23, 1998.
This increased level of activity confirms that the decision to place the Marystown Shipyard Limited in the hands of a credible international operator was the right one, and is a testament to the skill levels and commitment of the workforce at Friede Goldman Newfoundland Limited.
I am pleased also to inform the House today that the Government of Newfoundland and Labrador has reached an agreement with the employee groups at the former Marystown Shipyard Limited on the distribution of profit during the period April - September 1997, which will result in an amount of $433,333 that will be distributed among employees.
The work at the shipyard has created spin-off activity around the Burin Peninsula and throughout the province and we expect the beneftis to continue into the future. I congratulate all of the people at Friede Goldman Newfoundland - union, employees, management and owners - and wish them every success in the future.
| 1998 03 24 | 4:10 p.m. |
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