Fredericton, New Brunswick-based Marwood receives repayable federal investment of C$500,000 towards construction of wood scanning, optimizing plant; province contributes C$1.2M repayable loan and C$50,000 grant to project expected to create 20 jobs

Wendy Lisney

Wendy Lisney

Jan 22, 2014 – Atlantic Canada Opportunities Agency

MONCTON, New Brunswick , January 21, 2014 (press release) – Investments will lead to increased export success in the value-added wood sector

Marwood is expanding its facility, purchasing new equipment and adding 20 new full-time jobs thanks to investments by the Government of Canada and the Province of New Brunswick.

The Honourable Keith Ashfield, Member of Parliament for Fredericton and John Williamson, Member of Parliament for New Brunswick Southwest, on behalf of the Honourable Rob Moore, Minister of State (Atlantic Canada Opportunities Agency), and the Honourable David Alward, Premier of New Brunswick, joined Marwood officials to make the announcement today.

The project involves the construction of a new wood scanning and optimizing plant, and the purchase of specialized wood scanning technology as well as trimming equipment to improve production efficiencies.

The Government of Canada, through ACOA’s Business Development Program, is providing a repayable investment of $500,000 toward this project, while the Government of New Brunswick is providing a $1,200,000 repayable loan. The province is also providing a $50,000 grant.

Quick Facts

  • As a family-owned and operated business, Marwood traces its roots back to the 1920's.
  • Marwood is an industry leader in the development of export markets for value added Canadian wood products. With ready access to the Port of Halifax and the busy U.S. Northeast and Midwest freight corridors, Marwood has developed markets in the U.S., United Kingdom and many western European countries.
  • The company is well positioned to take advantage of the new Canada-European Comprehensive and Economic Trade Agreement. A joint Canada-EU study concluded that a trade agreement could boost Canada’s income by $12 billion annually and bilateral trade by 20 percent. This means the benefits of the agreement would be equivalent to adding almost 80,000 new jobs to Canada’s economy.
Quotes

“Our Government’s investment in Marwood Limited will help this major New Brunswick company construct a new wood scanning and optimizing plant, which will enhance its productivity and help expand its global presence.”

- The Honourable Keith Ashfield, Member of Parliament for Fredericton, on behalf of the Honourable Rob Moore, Minister of State (Atlantic Canada Opportunities Agency).


“As a primarily export based company, Marwood is just one of the many businesses that will benefit from access to a half-billion new customers as a result of the Canada-European Union Comprehensive and Economic Trade Agreement.”

- John Williamson, Member of Parliament for New Brunswick Southwest, on behalf of the Honourable Rob Moore, Minister of State (Atlantic Canada Opportunities Agency).


“Jobs and the economy are top-of-mind of New Brunswickers, Our investment in Marwood will help support a rural New Brunswick company increase its productivity and create jobs in this region of our province.”

– The Honourable David Alward, Premier of New Brunswick

“Marwood has been employing people in rural New Brunswick to produce value added wood products for many years, and over this time we have continuously made investments in our business to ensure we are aligned with the evolving needs of our customers. The investment in our wood scanning optimization project by the federal and provincial governments will protect existing jobs while creating new ones through increased wood recoveries and productivity improvements, which will keep Marwood competitive in the export markets we serve. I want to thank both Governments for their continued support and confidence in Marwood.”

- Michael O’Donnell, President, Marwood Limited


* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

Share:

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025 795

+1 (310) 558 0008
+1 (310) 558 0080 (FAX)

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.