Eastern businesses set for expansion

Kathy Dunderdale, Minister of Innovation, Trade and Rural Development and Minister Responsible for the Rural Secretariat, announced today that the department has allocated $54,000 from the Business and Market Development Program for three expansion projects in eastern Newfoundland and Labrador.

Discovery Compost Limited received $4,000 to carry out a feasibility study. Aquatek Environmental Incorporated received $25,000 to assist with the commercialization of new technology. Chatman�s Bakery Limited has been allocated $25,000 to develop new products and expand its product line.

�Through practicality and innovation, these companies demonstrate what the businesses of this province need to do to remain competitive,� said Kathy Dunderdale, Minister of Innovation, Trade and Rural Development. �By examining their businesses, the environments in which they operate and available opportunities, Discovery Compost, Aquatek Environmental and Chatman�s Bakery have created new avenues to market and expand operations.�

Discovery Compost Limited, based in Lethbridge, is researching and analyzing composting options and practices. The study will assist in determining if the company can be a financially and technically viable business. This opportunity has the potential to generate alternative uses for waste material and create additional employment in the area.

�The funding I received from the provincial government is allowing me to conduct an invaluable feasibility study,� said Discovery Compost owner, Ivan Greening. �Because of this funding and the completion of the study, I can begin the second phase of getting my new business off the ground.�

Aquatek Environmental Incorporated in Clarenville has been awarded funding to assist with the commercialization of a new technology for emulsifying hydrocarbons from contaminated land sites. The company will collect and analyze data with the intention of securing future contracts through the manufacturing and exporting of a new product.

�The funding provided by the Department of Innovation, Trade and Rural Development ensures that an innovative project, with considerable marketing potential in the growing environmental field, will be realized,� said Aquatek Environmental President, Ken Knight. �The leading-edge technology developed and used in this project offers additional potential in other applications as well, which Aquatek hopes to translate into positive net economic benefits from future manufacturing and exporting.�

Chatman�s Bakery Limited, located in Charlottetown, will develop new products to be marketed in retail outlets across Atlantic Canada. Funding will also be used to improve labeling and implement a lean manufacturing exercise to improve production processes. It is anticipated that increases in sales will benefit the local economy and create additional employment in the region.

�With the help and support of the Department of Innovation, Trade and Rural Development, we have been able to develop new products and packaging,� said Roxanne Weinheber, owner of Chatman�s Bakery. �In turn, this funding has helped us recognize new opportunities and expand our markets into Atlantic Canada.�

The Small Business and Market Development Program provides new entrepreneurs and expanding small businesses with funding to help them acquire the necessary expertise to pursue new business ideas and new markets for their products or services. The program is intended to support new growth opportunities in the economy, such as value-added manufacturing activities and export-oriented opportunities. Up to $25,000 in the form of a grant is available to eligible applicants. These funds must be matched on an equal basis by the business.

Media contact: Lynn Evans, Communications, (709) 729-4570, 690-6290

2005 11 03                            10:50 a.m.