BERESFORD (CNB) – The provincial and federal governments are making a combined investment of $1 million to help City Thermo Pane Ltd. make improvements to its manufacturing facilities and enhance its productivity and competitiveness.
The announcement was made by Premier David Alward and National Revenue Minister Keith Ashfield.
"Investing in economic development projects in Beresford and the Chaleur region are important for northern New Brunswick's economy," said Alward. "Our investment will help City Thermo Pane Ltd. to increase capacity and quality at its facility."
The Atlantic Canada Opportunities Agency (ACOA), through its Business Development Program, is providing a repayable contribution of $500,000. The provincial government is investing an additional $500,000.
"Our government is committed to advancing projects that expand economic opportunities in communities such as Beresford and throughout the province," said Ashfield. "ACOA's significant investment in this initiative will help City Thermo Pane Ltd. modernize its facility, enhance its competitiveness and extend the important contributions it makes to the local economy."
Ashfield is also minister of ACOA and minister of the Atlantic Gateway.
"For 37 years, City Thermo Pane has been a leader in the distribution of insulated glass units and other glass products in Atlantic Canada," said Mike Higgins, executive vice-president, Northfield Glass Group. "Our partnership with the Province of New-Brunswick and ACOA represents a total investment of $2 million toward modernization of the facilities here in Beresford, New Brunswick. The modernization will ensure that City Thermo Pane Ltd., through improved efficiencies, quality control and capacity, will continue to be a competitive contender in an ever-changing market."
City Thermo Pane Ltd. is planning the modernization of its manufacturing plant in Beresford, which will allow the company to meet all the required certifications to continue to offer high-end insulated glass thermo-pane products to the construction, architectural, and window manufacturing industry. The proposed equipment upgrades will also help the company to increase its production capacity and improve its product quality.
15-01-11