March 3, 2009
MIRAMICHI (CNB) - The provincial government is providing a working capital loan guarantee to help Dolphin Steel Systems Inc. of Miramichi to more than double its workforce so that it may fulfil existing contracts. Business New Brunswick Minister Greg Byrne made the announcement today.
"We are committed to supporting New Brunswick companies, and it is encouraging to see Dolphin Steel Systems Inc. expand and invest in its operations," said Byrne. "This loan guarantee will help the company put more New Brunswickers to work as it secures more contracts and prepares to expand and grow in Miramichi."
Business New Brunswick is providing a $900,000 working capital loan guarantee to Dolphin Steel Systems Inc., which manufactures engineered lightweight and steel building systems and components for use in construction.
Dolphin Steel Systems Inc. already has nine employees and will increase its workforce to 19 with the help of the government's loan guarantee.
"We are proud to support this company as it expands its operation and services in Miramichi," said Byrne. "The growth of this creative and innovative company is proof that small businesses can be productive and successful in New Brunswick."
Byrne made the announcement at the company's offices in Miramichi, accompanied by Public Safety Minister John W. Foran; the firm's president, Clyde Hamilton; and Miramichi-Bay du Vin MLA Bill Fraser.
"This loan guarantee is a vote of confidence from the provincial government in our company's ability to create employment for the people of Miramichi," said Hamilton. "We have expanded our customer base into the United States and are now running three shifts, 24 hours per day. We hope this expansion continues into the future."
This is the latest government investment in the Miramichi. Business New Brunswick supported the creation of 165 jobs building life-saving bomb-resistant armour plating for military vehicles at DEW Engineering and Development Ltd.; 207 jobs at the IT firm Hostopia.com; and 207 jobs at ATCON Fabrication.
Established in 2006, Dolphin Steel Systems Inc. operates a fully integrated, cold-formed steel production line for use in all types of constructions.
This process manufactures a variety of building systems (wall systems, floor systems, roof systems) and components (studs, track, channels, headers, joists) for use in commercial, residential, industrial, retail and warehousing structures. The result is a highly productive process with quick order-to-shipment turnaround time.
MEDIA CONTACTS: Ryan Donaghy, communications, Business New Brunswick, 506-453-2694, e-mail firstname.lastname@example.org; Jason Hamilton, public relations and sales, Dolphin Steel Systems Inc., 506-778-0078, e-mail, jason.hamilton@dolphinsteelcom.