Newfoundland and Labrador companies sign deals in Hong Kong

Two more Newfoundland and Labrador companies have signed deals valued at a total of $3.5 million during the final leg of the Team Canada 2001 mission in Hong Kong.

Canadian Iceberg Vodka Corporation of St. John�s signed a memorandum of understanding (MOU) with Goldtop Century Ltd. of Hong Kong to distribute international award-winning Iceberg Vodka to the greater Hong Kong area. The value of the deal is approximately $1.5 million over a three year period, all of which is Canadian content. It is estimated this deal will increase production by at least 30,000 cases over the next three years.

In addition, BAE-Newplan Group Ltd., SNC � Lavalin Inc., of Mount Pearl signed an MOU with Binhaih Wastewater Treatment and Disposal (Hong Kong) Consultants Ltd. of Hong Kong to jointly cooperate and pursue projects in the environmental field, marine engineering, wastewater treatment and disposal and fisheries and oceans sectors. The deal is valued at $2 million, of which $1.2 million is Canadian content.

"The Team Canada 2001 mission to China has been a tremendous success for Newfoundland and Labrador companies," said Sandra C. Kelly, who attended the mission on behalf of Premier Roger Grimes. "These last two memoranda of understanding have built on the successes in Shanghai and Beijing, and are further evidence that our companies and their products and services can compete with any in the world."

Media contact: Jacqueline Simon, (709) 729-6573.

2001 02 17 11:30 a.m.