Business New Brunswick

Government supports Springwall Sleep Products with repayable loan (09/08/26)

NB 1217

Aug. 26, 2009

SCOUDOUC (CNB) - Government is helping maintain 54 jobs at Springwall Sleep Products in Scoudouc with a $1-million repayable loan, Business New Brunswick Minister Victor Boudreau announced today.

"This company has proven itself as an important player in its industry and a strong employer in Scoudouc," said Boudreau. "I am pleased that our investment will keep New Brunswickers working by allowing this company to go forward and continue producing its nationally certified products."

Springwall Sleep Products has been manufacturing sleep sets in North America for more than 50 years. Its head office is in Scoudouc. It operates corporate and licensed manufacturing facilities in Canada, the United States, and overseas. In addition to the Scoudouc employment, the company provides146 jobs elsewhere in Canada.

"Our company provides the hospitality, retail, and health-care industries with high-quality mattress and box spring products," said Boyd Kay, CEO of Springwall Sleep Products. "This vote of confidence from the province will help us find the working capital we need to meet the growing demand for our product, ensuring we continue to operate at full capacity during the next several months while our cash flow improves."

"Our government is working with companies in every part of the province to ensure that they are getting the credit they need to do their work, and to ensure that working New Brunswickers are protected from job losses," said Boudreau. "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 CONTACT: Ashley Bursey, communications, Business New Brunswick, 506-453-2694,; Boyd Kay, CEO, Springwall Sleep Products, 506-532-4481.