Program aims to develop aerospace and defense industries

Industry, Trade and Technology Minister Judy Foote said the Government and Industry Partnering Program will initially aim to develop the aerospace and defense sectors in the province by matching Newfoundland and Labrador firms with major prime suppliers.

"Aerospace and defense are two growing sectors in Canada," said Minister Foote. "There are a number of firms in Newfoundland and Labrador that have capabilities in these sectors, and we are working with them to develop cooperative business relationships that will help with the growth of these industries."

The aerospace and defense initiative aims to initially match between 10 and 15 companies that currently have the expertise, or have the capability and flexibility to supply the goods and services, to meet the needs of prime contractors and sub-system suppliers. The companies will then be partnered with suppliers through business relationships such as joint ventures, strategic alliances or project partnerships.

The initiative will also seek firms in the marine and offshore sectors whose technical and research and development capabilities may be transferable to the aerospace and defense sectors. "We want to encourage firms in these sectors to build on their existing knowledge to grow viable aerospace and defense industries," said Minister Foote.

"By providing the right leads for the appropriate companies in Newfoundland and Labrador, we hope to broaden the core capabilities and enhance the competitiveness of the province in the aerospace and defense sectors," said Minister Foote. "We also want to foster long lasting supplier relationships to eventually move forward to product development and testing."

The Government and Industry Partnering Program is managed by the Department of Industry, Trade and Technology, Industry Canada and the Atlantic Canada Opportunities Agency (ACOA) through the Economic Renewal Agreement. In addition to aerospace and defense, future initiatives will focus on marine, health informatics, and high technology markets.

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