ATHOLVILLE (CNB) – The provincial and federal governments are making investments to help Pneus ABC Tires Inc. buy specialty equipment, expand its product line and create up to 15 new jobs.
The announcement was made today by Campbellton-Restigouche Centre MLA Roy Boudreau and National Revenue Minister Keith Ashfield, who is also the minister of the Atlantic Canada Opportunities Agency (ACOA) and minister for the Atlantic Gateway.
“Our investment shows our government's commitment to economic development in the Restigouche region and northern New Brunswick,” said Boudreau. “Our entrepreneurs are an integral part of creating a successful, diversified economy in this province. Improving the success of our small businesses is part of our government's plan, An Action Plan for Self-Sufficiency in Northern New Brunswick."
Boudreau was speaking on behalf of Business New Brunswick Minister Victor Boudreau, who is also the minister responsible for the Regional Development Corporation.
“Our government's investment in Pneus ABC Tires Inc. will help the company purchase critical and specialized fabrication equipment,” said Ashfield. “This investment will help enhance the company's production capacity, positioning it to better compete in markets, create jobs and increase its sales.”
The two governments are making investments totalling more than $1 million. Through its Business Development Program, ACOA is providing a repayable contribution of $500,000 for the purchase of new, highly technical fabrication equipment to enable the company to retread large heavy vehicle tires. The provincial government is providing more than $500,000 under the Northern Economic Development Fund toward the purchase of equipment and technology. Pneus ABC Tires Inc. is contributing $657,224.
"With this expansion, our company will be the only one in the country able to retread tires with a proven cold retreading process, contributing significantly to reducing greenhouse gas emissions and providing a second and even a third life to tires, not to mention filling these with a 100-per-cent recyclable foam, which demonstrates how serious we are about the environment," said Bernard Cormier, president, Pneus ABC Tires Inc. “Our project would not have been possible if it were not for first-class partnerships, involvement and concerted efforts from governments to our project. This clearly illustrates that governments are truly committed to the economic recovery of our region."
LINK:
● Regional Development Corporation: www.gnb.ca/rdc
11-08-10