Investment of $84,000 Expands Rural Manufacturing Capacity for Local Product

In support of the manufacturing sector, the Provincial Government has provided funding of $84,000 in a repayable loan to GFI Composites Limited to support the establishment of a production facility that will manufacture bathtub and shower units in the province.

“With this investment, GFI Composites Limited will be Atlantic Canada’s first manufacturer of fibreglass bathtub and shower units, a product that is in high demand as a result of the strong construction industry in the province,” said the Honourable Keith Hutchings, Minister of Innovation, Business and Rural Development. “GFI identified an opportunity in the market for local product, and have expanded their product line. I am pleased that Newfoundlanders and Labradorians will be able to choose a locally manufactured product as a result of this investment in a new production facility in Milton.”

With this investment, GFI Composites Limited, a manufacturer of fibreglass products, has established a bathtub and shower unit production facility which will manufacture one and three piece bathtub and shower units in the former Milton Fibreglass facility.

“GFI Composites Limited is another example of a successful Newfoundland company showing strong leadership and taking the initiative to expand their markets and product lines,” said the Honourable Ross Wiseman, Speaker of the House of Assembly and MHA for Trinity North. “I am delighted the Department of Innovation, Business and Rural Development recognizes the great potential GFI has for continued prosperity.”

GFI Composites Limited is scheduled to have new bathtub and shower units on the market by the end of September, with product available throughout the province at home renovation and supply stores.

“We are pleased with the support we’ve received from IBRD in establishing this new production facility,” said Patrick Galway Owner/Operator, GFI Composites Limited. “We estimate that there is huge market potential for this product and seeing that bathtub and shower kits are so easily damaged during transportation, and expensive to ship, we are looking forward to providing a competitive, high quality product.”

Additional information on GFI Composites Limited can be found at www.gficomposites.com. 

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2013 09 05                            11:30 a.m.