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PEI's MacDougall Steel Erectors gets funding for new parts shop
- August 13, 2019
- News Release
- Fabricating
MacDougall Steel Erectors (MSE), Prince Edward Island's largest steel manufacturer, will receive support from the federal and provincial governments to help the company become more efficient and reduce third party purchasing of critical parts and components.
The $1.1 million project will see the addition of a parts making shop at MSE's location in Albany, PEI, where it is a major employer with 150 staff.
MSE will receive a $750,000 loan from the PEI Century Fund to support the project. The Government of Canada is providing a $350,000 investment for new equipment under the Regional Economic Growth through Innovation (REGI) Steel and Aluminum Initiative.
"This will allow our company to build our own parts, many of which would otherwise have to be purchased elsewhere at a higher cost to serve our needs," said Kirk MacKinnon, chief financial officer, MSE. "This kind of vertical integration will put MSE in a better position to continue to be a successful employer and manufacturer over the long term, and we thank the federal and provincial governments for their support.”
The Honourable Wayne Easter, Member of Parliament for Malpeque, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), joined the Honourable Matthew MacKay, PEI Minister of Economic Growth, Tourism and Culture to announce the funding.
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