Regional Development Corporation

$2.5-million investment made in Groupe Savoie (08/09/18)

NB 1348

Sept. 18, 2008

SAINT-QUENTIN (CNB) - An investment of $2.5 million will be made to enhance productivity and increase competitiveness at Groupe Savoie's operations in Saint-Quentin and Kedgwick. Premier Shawn Graham made the announcement today in Saint-Quentin.

(Multimedia)

"We are putting New Brunswick on the road to self-sufficiency by investing in the Restigouche region and all regions," said Graham. "Working with a major company such as Groupe Savoie shows our government's commitment to economic development in the Restigouche region and in New Brunswick. This announcement stems from our government's commitment to help industry as it becomes more productive and more competitive. We are committed to our forest industry, and it is encouraging to see Groupe Savoie investing in its operations."

Joining Graham were Natural Resources Minister Donald Arseneault and Jean-Claude Savoie, president of Groupe Savoie.

Funding provided through Business New Brunswick and the Regional Development Corporation under the national Community Development Trust will permit Groupe Savoie to increase its competitiveness by investing in equipment to create greater efficiencies, while maintaining 510 jobs at its operations in Saint-Quentin and Kedgwick.

"We are pleased with the support of the Government of New Brunswick, which will allow us to maintain our levels of current investment during this difficult economic period," said Savoie. "The challenge of industry at present is to control the costs, while investing in new technology that lets us meet future challenges."

Founded in 1978, Group Savoie is a leading New Brunswick company that has achieved success in using innovative techniques to boost production and improve productivity. The company provides a strong example to other manufacturers of wood products in New Brunswick, and has grown from a small family business into one of Eastern Canada's biggest hardwood processing companies. The company manufactures pallets produced to customer specifications; custom detached components and panels; and hardwood flooring.

The Government of New Brunswick has been fulfilling its commitment to assist New Brunswick industry, helping such companies as Flakeboard, AV Cell, AV Nackawic, and Fraser Papers invest in their operations.

08/09/18

MEDIA CONTACTS: Marie-Andrée Bolduc, Office of the Premier, 506-453-2144; Bruce Macfarlane, Regional Development Corporation, 506-444-4606.

08/09/18