New England Trade and Investment Initiative generates rewards for local companies

A trade mission to Boston last month has already generated significant rewards for several of the Newfoundland and Labrador companies that participated. Three companies - Newfoundland Naturals, Neptune Leatherworks, and ACAN Windows - made new sales during the mission and others have reported that additional sales are forthcoming.

"The fact that three companies have already made sales as a result of the mission is a testament to the companies themselves and the quality of products and services produced by Newfoundland and Labrador companies in general," said Industry, Trade and Rural Development Minister Kelvin Parsons. "In many cases, sales and deals take some time to develop in the weeks and months following a trade mission. Many companies which participate in these initiatives take a long term view and focus on identifying opportunities, distribution channels or sales agents. But early results are always very encouraging. My congratulations to them for making it happen so quickly."

Newfoundland Naturals of Paradise made an initial sale to Natural Frontier Market, an all-natural, health and food store with locations in Massachusetts and New York. "Understanding the subtle cultural and market differences between Canada and the United States is certainly a key to export success and this mission provided the opportunity to experience those differences first-hand. With the expansion of our product line, including shampoos, lotions, gels, and other products, we are ready to effectively compete in the American market," said Ken Parsons, owner and president.

As well as interviewing several potential sales reps that wish to represent the company in this market, Neptune Leatherworks of Freshwater sold products to two retailers in the Boston area. "The fact that we did pick up some accounts, I believe, indicates the potential for success in this market. We met with reps, shop owners, and other manufacturers. We generated two well placed orders and also agreed to market test a small consignment selection on Newbury Street, an exclusive retail location in Boston," said Annette Reichel of Neptune.

ACAN Windows of Paradise, participating in the mission for a second time, made proposals to four major builders and have found two potential agents in the New England market. "With the assistance of the Department of Industry, Trade and Rural Development, ACAN Windows was able to meet and be matched with companies that it would not have been able to achieve on its own," said Ron Taylor, president of Mill Pond Associates, who represented ACAN Windows on the mission. "I would highly recommend any Newfoundland company that is considering the export market to use these excellent services to pursue the international export marketplace."

All three companies have indicated that they are pleased with the initial success they have experienced during the trade mission and that they will continue to pursue business opportunities in the New England region.

"This government is committed to encouraging a climate of investment in Newfoundland and Labrador to support our dynamic and growing economy," said Minister Parsons.

Trade and export development is a key priority in government�s Renewal Strategy for Jobs and Growth. The Boston trade mission, part of Industry, Trade and Rural Development�s ongoing New England Trade and Investment Initiative, took place October 21-25, 2002.

The goal of the New England Trade and Investment Initiative is to help Newfoundland and Labrador companies enhance international trading ties with the New England states and encourage New England companies to establish a presence in Newfoundland and Labrador.

Media contact: Tracy Kenney, Industry, Trade and Rural Development, (709) 729-2257.

2002 11 21                                        1:25 p.m.