April 17, 2008
MONCTON (CNB) - Tandem Textiles will reopen under new ownership and will create 44 jobs, Business New Brunswick Minister Greg Byrne announced today.
"Our government is proud to invest in the jobs created by the reopening of Tandem Textiles, and in its efforts to make the facility more environmentally friendly," Byrne said. "I am confident that continuing to build strategic partnerships such as this one will help move New Brunswick further toward self-sufficiency by 2026."
Byrne was joined at today's news conference by Dick Carpenter, president of Heritage Developments; Moncton East MLA Chris Collins; and Moncton mayor Lorne Mitton.
"A textile manufacturing business has operated from this site in Moncton for over 100 years," Carpenter said. "We thank the provincial government for their support and faith in the efforts of our company's dedicated management team and capable employees, who are working diligently to modernize this facility and bring the operation back into the global market place as a high-end, totally integrated, green manufacturer."
Byrne announced that the Government of New Brunswick will provide Tandem Textiles with a $1.43-million forgivable loan and a $1-million term loan to assist with capital costs and facility upgrades, and the expenditures required to upgrade environmental and water recycling equipment.
"This announcement is part of our government's effort to be a leader in economic development and job creation, and I am confident that the number of employees will grow well beyond the 44 jobs created today," Byrne said. "We are committed to supporting our New Brunswick companies, and it is encouraging to see Tandem Textiles partnering with the government to invest in its operations and to reopen this facility. By supporting this sector of the economy, we are helping it to modernize, to be innovative, and to upgrade technologies in order for it to be successful here in our province."
Tandem Textiles Inc., formerly Tandem Fabrics, closed in 2005 and was recently reopened by Heritage Developments. Its environmentally friendly products, consisting of woven upholstery fabric, will be marketed under the brand name Heritage Textiles. It will produce upscale materials for the transportation, cinema, office, and health-care industries for the global marketplace.
MEDIA CONTACTS: Ryan Donaghy, communications, Business New Brunswick, 506-453-2694; Ryan Carpenter, Heritage Developments, 506-853-1918.