May 29, 2013
Over $480,000 Supports Innovation and Technology
Investments in Local Businesses
Newfoundland and Labrador businesses are in a better position to improve operational efficiencies, boost capacity, and provide a competitive edge through funding provided by the Provincial Government. The Honourable Keith Hutchings, Minister of Innovation, Business and Rural Development, announced $480,100 to support 10 local businesses this morning at C&W Industrial Fabrication and Marine Equipment Limited in Bay Bulls.
“We are pleased to provide funding to local businesses to support innovation which helps to improve efficiencies and competitiveness,” said Minister Hutchings. “These investments totalling $480,100 support the application of technology-based solutions which allow growth, and benefit businesses and the communities they operate in.”
The Technology Utilization Program, which has been incorporated into the Business Development Support Program, assists local small and medium-sized enterprises to improve business processes, product quality, efficiency and competitiveness. The program provides non-repayable contributions to eligible project costs; a list of the 10 companies receiving funding is provided in the attached backgrounder.
“This investment will allow our business to purchase a new cutting machine and water injection system which will upgrade our technology and substantially improve productivity which is essential to improving our operations,” said Terry Crane, President, C&W Industrial Fabrication and Marine Equipment Limited. “We must be innovative to remain competitive and grow our business, and the new equipment will allow us to do just that.”
Since 2011, $964,600 has been invested in 21 initiatives throughout Newfoundland and Labrador through the Technology Utilization Program.
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Media contacts:
| Heather MacLean Director of Communications Department of Innovation, Business and Rural Development 709-729-4570, 697-4137 heathermaclean@gov.nl.ca |
Terry Crane President, C&W Industrial Fabrication and Marine Equipment Limited 709-334-3303 fburke@cwindustrial.com |
BACKGROUNDER
Businesses Supported Under the Technology Utilization Program
C & W Industrial Fabrication and Marine Equipment Ltd., Bay Bulls,
$75,000
Purchase of Combirex DX CNC Gantry Cutting Machine and Water Injection
System
Eastern Analytical Limited, Springdale, $75,000
Purchase of a Fire Assay Furnace, Button De-Slagger, Mettler Toledo
Microbalance, Dust Collection System and Heating and Cooling unit
A & P Manufacturing Limited, Milton, $75,000
Purchase of L-M “I-Cut” Package Cross Cut System and L-M Double End Bump
Rollcase
Design Manufacturing Inc., Mount Pearl, $75,000
Purchase of Contura G2
Best Boy Studios Inc., Mount Pearl, $68,254
Acquisition of Motion Capture System
NuFeeds Inc., Cox’s Cove, $64,000
Purchase of Vertical Plate Freezers
Advanced Thermal Imaging Inc., Conception Bay South, $15,270
Purchase of GPR Concrete Scanner
Funn Food Factory Inc., St. John’s, $14,625
Acquisition of Jet Decorator Direct Printing System
The Dark Tickle Company, St. Lunaire - Griquet, $9,527
Acquisition of Bottle Capper and Vacuum Packing Machine
SubC Control Limited, Clarenville, $8,450
Purchase of Quality Control Equipment and Rapid Prototyping Capability
2013 05 29 10:25 a.m.