Sept. 12, 2008
MIRAMICHI (CNB) - The provincial government has helped Sunny Corner Enterprises Inc. secure a loan guarantee, which will help maintain hundreds of jobs secured through work on several contracts. Business New Brunswick Minister Greg Byrne made the announcement today.
"This announcement will help ensure that the company has access to the financial resources necessary to be more successful in Miramichi," said Byrne. "Today we are helping an important Miramichi manufacturer that has created sustainable employment for hundreds of people in the region. Our support for this company is in keeping with this government's plan to diversify and 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 loan guarantee will be for $3 million, which will allow the company to undertake work secured through contracts in the Alberta oilsands, and with the Point Lepreau refurbishment and Canaport LNG terminal. These contracts led to the company increasing its number of employees to more than 800 in Miramichi, throughout New Brunswick, Nova Scotia and Alberta.
"Our revenues have doubled in the past two years, which puts a strain on cash flows," said Eugene Nowlan, vice-president of business development for Sunny Corner Enterprises Inc. "This loan guarantee makes it possible for our company to continue the growth of our fabrication and construction divisions in the nuclear, oil/gas, and power generation industries. This announcement is very positive for the Miramichi region and our employees."
The 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 the creation of over 200 new jobs at Hostopia.com, which recently celebrated its first year of operation; the creation of 150 new jobs at ATCON Fabrication; strategic investments at FatKat Animation Studios; and the creation of the Miramichi Community Action Committee.
Sunny Corner Enterprises Inc. is a Miramichi-based company started in 1968 as a plumbing and heating contracting firm. It has evolved into a company offering a wide range of contracting and metal fabrication services, with five divisions consisting of general construction, nuclear, metal fabrication, fire-protection and industrial sales/rentals.
MEDIA CONTACTS: Ryan Donaghy, communications, Business New Brunswick, 506-453-2694; Eugene Nowlan, vice-president, business development, Sunny Corner Enterprises Inc., 506-622-5652.