Province Invests In Local Shipbuilding Company

first_imgA Meteghan River boat-building company will use new technology to build larger boats and increase international sales. A.F. Theriault and Son Ltd. will buy a laser alignment system with the help of the province’s $21,000 investment from the Productivity Investment Program (PIP). “This investment will help A.F. Theriault and Son Ltd. become more efficient and competitive on an international stage,” said Percy Paris, Minister of Economic and Rural Development and Tourism. “That’s what jobsHere, our plan to grow the economy, is all about.” The new equipment will more accurately align the engines and propulsion shafts on vessels, allowing the company to construct larger, high-quality boats, to be sold in Canada and internationally. A family business employing about 150 people, A. F. Theriault and Son Ltd. was founded in 1938, and combines old techniques with the latest trends and technologies to build state-of-the-art fishing boats, pleasure yachts and catamarans. “The equipment purchased with the PIP funding enables us to build vessels with greater precision,” said Gilles Theriault, director, A.F. Theriault and Son Ltd. “The result is a better quality and safer vessel.” The PIP program provides financial incentives to encourage businesses to become more productive, innovative and globally competitive by supporting capital investments through the Capital Investment Incentive stream, as well as workplace training and certification through the Workplace Innovation and Productivity Skills Incentive stream. For more information on jobsHere and the PIP program, visit .last_img read more

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