Innovation, Trade and Rural Development
December 4, 2006

Government Helping Manufacturers Find New Markets 

Newfoundland and Labrador manufacturers are developing new markets around the world. �When you manufacture, you create wealth,� said the Honourable Trevor Taylor, Minister of Innovation, Trade and Rural Development. �Part of our mandate is to help manufacturers find new markets, and I am pleased to say that a growing number of local companies are rising to the challenge.�   

Fab Tech Industries of Glovertown has received $14,269 from the department�s Business and Market Development Program (BMDP) to develop a promotional and marketing package and to assist the company to travel to Greenland to market its work boats and pleasure craft.  

The Newfoundland and Labrador Builders International Corporation has received $25,000 from BMDP to help it market its products abroad, particularly in Iceland and the Faroe Islands. The corporation is an alliance of 10 companies pursuing export opportunities related to Canadian wood-frame houses.  

Island Manufacturing and Galvanizing of Bell Island has received a term loan of $100,000 from the department�s Small and Medium-sized Enterprise Fund to purchase equipment. The company manufactures modular steel galvanized scaffolding which it exports to Ontario.  

AbbyShot Clothiers Limited of Mount Pearl has been approved for a total of $12,346 from BMDP for product line research. Recently the company participated in a trade mission to Iceland where it secured a contract to provide women�s leather jackets modeled on one worn by Uma Thurman in the film Kill Bill.

Quality North of St. Anthony has been approved for $2,500 to assist the company on a fact-finding tour of modular home manufacturing plants in Nova Scotia and New Brunswick.  Quality North, a consortium of principals of three woods-related companies on the Northern Peninsula, plans to build modular homes that conform to European building codes for export to Greenland and northern Canada. 

�Some of these companies operate in rural areas of Newfoundland and Labrador. Government is pleased to help these companies in their efforts to diversify and grow rural economies, and in turn, to provide employment for the people of the province,� said Minister Taylor.  

The Business and Market Development Program is designed to provide 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. 

The Small and Medium-sized Enterprise (SME) Fund provides term loans and equity investments to small and medium-sized businesses in strategic growth sectors, and is a component of the province�s Comprehensive Regional Diversification Strategy. Special emphasis is placed on value-added manufacturing, information technology, aquaculture, bio-technology, marine services, agrifoods and tourism, where local competitive impact is not an issue. The fund also targets businesses which have export potential and need assistance to enter or expand in external markets. 

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Media contact:
Lynn Evans
Director of Communications
Innovation, Trade and Rural Development
709-729-4570, 690-6290

LynnEvans@gov.nl.ca 

2006 12 04                                                        2:15 p.m.


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