Business New Brunswick

Province supports ATCON in multi-million-dollar project (08/08/05)

NB 1128

Aug. 5, 2008

MIRAMICHI (CNB) - A project to provide steel fabrication for the $135-million Deh Cho Bridge over the Mackenzie River in the Northwest Territories will be undertaken by ATCON Holdings Inc., thanks in part to the government's assistance in securing a loan guarantee, Business New Brunswick Minister Greg Byrne announced today.

"This announcement will help ensure that the company has access to the financial resources necessary to undertake the work required to begin and complete the project," said Business New Brunswick Minister Greg Byrne. "Today, we are helping an important Miramichi manufacturer that has created sustainable employment for people in this region. Our support of this project is another step in this government's plan to transform the Miramichi economy. This type of strategic partnership is an example of how we are helping our companies be more innovative and be more successful, while furthering our goal of self-sufficiency by 2026."

The provincial government will provide ATCON with a $13,362,845 loan guarantee, which will allow it to undertake work for a contract which led to the creation of the $21.5-million Centre of Excellence in Steel Fabrication in Miramichi last September, and has led to the creation of 150 jobs. The steel beams required for the project will be fabricated in Miramichi, and assembled in the Northwest Territories.

Located in Fort Providence, 300 kilometers southwest of Yellowknife, the bridge will provide a year-round land connection between the Northwest Territories and the southern provinces, replacing ferries and ice roads.

This announcement is part of the government's commitment to diversifying the region's economy and making economic development a priority for the Miramichi region. Recent announcements include 207 new jobs at Hostopia.com, which recently celebrated its first year of operation, strategic investments at FatKat Animation Studios, and the creation of the Miramichi Community Action Committee.

The ATCON Group was founded in 1978 in New Brunswick and now has more than 2,000 employees working in Canada, the U.S. and Europe. Headquartered in the Miramichi, ATCON has a diverse group of industrial-based companies focusing on five primary sectors: heavy construction, energy, steel fabrication and machining, environmental products and services, and manufactured wood products.

08/08/05

MEDIA CONTACT: Ryan Donaghy, communications, Business New Brunswick, 453-2694.

08/08/05