Two Local Businesses Rank Among Canada’s Top 50 Defence Companies

Newfoundland and Labrador’s aerospace and defence industry is reaching new heights. The Honourable Derrick Dalley, Minister of Business, congratulated Provincial Aerospace and Bluedrop Performance Learning today on being ranked among Canada’s 2011 Top 50 Defence Companies by Canadian Defence Review magazine.

“The aerospace and defence industry in the province is expanding and companies like Provincial Aerospace and Bluedrop Performance Learning are winning major national and international contracts,” said Minister Dalley. “It’s exciting to see Newfoundland and Labrador businesses begin to rank among the country’s leaders in the defence industry.”

Canadian Defence Review is Canada’s leading defence and military journal, serving the information needs of the defence community. The annual ranking is based on factors such as economic impact, innovation, contribution to the nation’s security, and support of Canada’s military. This is the first time that a company from Newfoundland and Labrador has made the list. Provincial Aerospace ranked 23 and Bluedrop Performance Learning ranked 44.

The complete list of Canada’s 2011 Top 50 Defence Companies can be found at www.CanadianDefenceReview.com.

“Provincial Aerospace is very honoured that Canadian Defence Review ranked our company among the top defence companies in Canada,” said Brian Chafe, Chief Operating Officer at Provincial Aerospace. “We continue to build upon our successes by developing innovative solutions to meet the needs of our clients worldwide.”

“Bluedrop has gone from zero revenue in aerospace and defence just five years ago, to closing almost $20 million in new contracts over the past nine months,” said Emad Rizkalla, President and Chief Executive Officer of Bluedrop Performance Leaning. “Needless to say we couldn’t get there without extremely smart, passionate and committed people. I am proud of this team and I truly feel we are just beginning.”

The aerospace and defence industry in Newfoundland and Labrador continues to grow, employing up to 1,800 Newfoundlanders and Labradorians and generating over $150 million in annual revenue. “Our government is committed to making strategic investments to enable the growth of our key industries and funding programs are available to ensure that we succeed,” said Minister Dalley.

Budget 2011 Standing Strong: For Prosperity. For Our Future. For Newfoundland and Labrador affirms the Provincial Government’s funding commitment to the aerospace and defence industry. The Aerospace and Defence Development Fund provides $9 million over the next three years with $3 million being allocated annually. This fund will continue to facilitate the advancement of the industry by supporting opportunities that build capacity, attract investment, and bring new expertise and business activity to Newfoundland and Labrador.

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2011 06 10                                                                        10:30 a.m.