Business New Brunswick

Hardwood company receives loan guarantee (10/02/23)

NB 271

Feb. 23, 2010

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(Multimedia)

WOODSTOCK (CNB) - The provincial government is providing a $300,000 loan guarantee for working capital to help Maritime Dimension Hardwoods Inc. in Woodstock maintain 14 jobs and meet growing product demand.

Business New Brunswick Minister Victor Boudreau joined owners Peter, Ruth and Steven Hall to make the announcement.

"We are proud to support a family-owned New Brunswick company with a tried-and-true history in the wood business," said Boudreau. "This assistance will allow Maritime Dimension Hardwoods Inc. to continue to access credit as it works to meet growing product demand and create specialized products for the competitive international market."

The company offers a variety of niche market hardwood products, mainly for overseas customers. These products are for end-manufacturers in an array of sizes and species. Its products include blanks for flooring, brushes, furniture, handles and truck decking.

"The Maritime Dimension Hardwoods trademark has become recognized overseas, and our loyal customers continue to return to us for high-quality products that meet very stringent specifications," said Steven Hall. "We have a hard working and innovative team, and we are thrilled with this vote of confidence from the provincial government. This will allow us to continue to further develop our export markets around the globe from right here in Woodstock."

Maritime Dimension Hardwoods Inc. has begun producing premium fuel bricks from sawdust and wood waste to increase its recovery yield. These environmentally friendly bricks are used in wood stoves and are now available at retail outlets in the Maritimes and the northeastern United States.

"Our government provides businesses with the means to be productive and competitive in a challenging economic environment," said Boudreau. "We continue to support the innovation of New Brunswick entrepreneurs and small businesses, and we are confident that strategic investments such as this one will help us achieve our goal of self-sufficiency by 2026."

10/02/23

MEDIA CONTACTS: Ashley Bursey, communications, Business New Brunswick. 506-461-0942, ahley.bursey@gnb.ca; Steven Hall, Maritime Dimension Hardwoods Inc., 506-325-9209, steven.mdh@nb.aibn.com.

10/02/23