Oct. 21, 2008
BATHURST (CNB) - The provincial government is providing $346,000 in financial assistance to help a Bathurst value-added wood processor create 12 jobs. The assistance will help the company, Future Alternative Wood Products Ltd., cover capital and equipment costs associated with the establishment of its operation.
Business New Brunswick Minister Greg Byrne made the announcement in Bathurst today. He was accompanied by Pierre Friolet, president of Future Alternative Wood Products; Bathurst MLA Brian Kenny; and Bathurst Mayor Stephen Brunet.
"Our support for Future Alternative Wood Products is another step in this government's plan to transform the economy of northern New Brunswick, and achieve self-sufficiency for all parts of the province," said Byrne. "Today, we are helping an important Bathurst manufacturer create 12 new highly skilled, sustainable jobs for people in this region. Our government is pleased to support this company as it upgrades technology that will help it be more competitive in an increasingly competitive world market."
Funding of $100,000 from the Restigouche-Chaleur Economic Development Fund and a $246,000 loan guarantee will enable Future Alternative Wood Products to establish its value-added operation in Bathurst and to buy a 30-cubic-metre capacity oven with a yearly production of three million board feet.
"We are at the beginning of an emerging market," said Friolet. "Working with a technology that brings additional value-added capability to the wood industry is exciting for both ourselves and our customers. Already, the opportunities that have materialized have exceeded our expectations both locally and internationally, and thanks to all our funding partners, we are bringing these opportunities to the North Shore of New Brunswick."
The Government of New Brunswick has been fulfilling its commitment to help New Brunswick industry, assisting such companies as Flakeboard, AV Cell, AV Nackawic, Groupe Savoie, and Fraser Papers.
"By supporting this sector of the economy, we are helping it to modernize, to be innovative and to upgrade technologies to compete better in the global marketplace," said Byrne. "We want to ensure that New Brunswick companies have the tools at their disposal to be leaders in the global economy."
Future Alternative Wood Products was recently formed to establish a plant in Bathurst to create a high-value wood product from lower-valued lumber using a new heat treatment technology called Bois Ecothermo Wood. A Finnish company, Valutec Oy, developed the process in the early 1990s.
MEDIA CONTACTS: Ryan Donaghy, communications, Business New Brunswick, 506-453-2694; Pierre Friolet, president, Future Alternative Wood Products Ltd., 506-545-6155.