April 6, 2009
DIEPPE (CNB) - The provincial government is helping electronics manufacturer Custom Electronics Integrators (CE3) maintain 75 jobs at its Dieppe facility, Minister of Business New Brunswick Greg Byrne announced today.
"I'm proud to help this New Brunswick company get access to credit in these difficult financial times," said Byrne. "CE3 provides innovative solutions for customers who have design and manufacturing issue with electronics products. This assistance will help ensure the success of this company."
The province is providing a $550,000 loan guarantee as working capital to help the company employ 75 people who design, engineer, assemble and test electronic products for individual clients.
"We've seen a growing trend where original equipment manufacturers outsource the production of their electronic devices to companies such as CE3," said Byrne. "With more and more new products having electronic components, this is a trend we expect to increase. Investing in CE3 means investing in the future of New Brunswick's manufacturing landscape, which will help us grow as a province."
CE3 began in Moncton in 1985, and has grown steadily. The company expanded its workforce in the last five years to meet the growing demand for its diverse services in electronics manufacturing, miniature electronic components, furnaces and large power transformers.
The company also plays a crucial role in the development of aerospace and defence technologies, an industry cluster that the province is eager to develop.
Byrne was joined at today's announcement by CE3 president David Whitton, who said that the loan guarantee will help his company achieve its goals.
"CE3 already has a reputation for excellence, and is ranked as one of the top electronics manufacturing service companies in Atlantic Canada," said Whitton. "With the help of the provincial government, we can continue on the road to becoming a national leader, and bring the benefits of our growing success back home to the people of New Brunswick."
"Making strategic investments in local businesses is important for job maintenance and company growth," said Byrne. "Our government provides the means for productivity and profitability in a challenging economic environment. Continuing to make strategic investments and cultivating partnerships such as this one today will help us achieve our goal of self-sufficiency by 2026."
MEDIA CONTACTS: Ryan Donaghy, communications, Business New Brunswick, 506-453-2694, e-mail: firstname.lastname@example.org; David Whitton, president, CE3, 506-866-7716.