New industry opens in Grand Bank

Industry, Trade and Rural Development Minister Judy Foote announced funding for Aero Dynamics Newfoundland Ltd. during the company�s official opening today in Grand Bank. The Department of Industry, Trade and Rural Development is providing $18,505 to assist with marketing and the transfer of technology and skills from Calgary to its new Grand Bank operation.

"In our Renewal Strategy for Jobs and Growth, we targeted the manufacturing industry as a key sector for sustained economic growth in Newfoundland and Labrador," said Minister Foote. "Aero Dynamics is an innovative company that will create new employment and stimulate economic growth in the Grand Bank region, in addition to bringing new technology to the province."

Aero Dynamics Newfoundland Ltd. manufactures inflatable vinyl shelters for industry sites, exhibitions and outdoor events, crime scenes, and to create instant decontamination areas complete with showers. The shelters are created from air-filled panels and columns constructed from vinyl. The company will create up to 30 new jobs in the Grand Bank region.

"It is important to support the growth of small businesses such as Aero Dynamics. They make a significant contribution to the provincial economy," said Minister Foote. She noted that almost 95 per cent of all businesses in our province are small businesses. There are more than 20,000 small businesses in the province, accounting for over one-third of total employment and creating 80 per cent of all new jobs in the province.

Aero Dynamics has secured a contract with Kiewit Offshore Services to design and construct a shelter for the Cow Head offshore fabrication facility as part of the White Rose Project. The 300 by 170 foot shelter for Kiewit Offshore will be 110 feet high and will be the largest ever constructed by Aero Dynamics.

Aero Dynamics Newfoundland Ltd. is a wholly owned subsidiary of Aero Dynamics Inflatable Shelter of Calgary, Alberta. Its clients include the RCMP, the U.S. Navy, and the U.S. Department of Environment.

Media contact: Tansy Mundon, Communications, (709) 729-4570

2003 05 28                                      11:30 a.m.