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IN THE NEWS The Honourable Wade MacLauchlan, Premier of Prince Edward Island (centre) is joined by (from R to L) Arnold Croken, General Manager of the Summerside Regional Development Parliamentary Secretary to the Minister of Agriculture, to the Minister of National Revenue and for the Atlantic Canada Opportunities Agency; Jeff Poirier, President of Vector Aerospace Engine Services - Atlantic; and Shawn McCarvill, President of Slemon Park Corporation at the announcement of the addition of a fourth engine test cell at Vector’s facility in Slemon Park. PHOTO: VECTOR AEROSPACE

VECTOR AEROSPACE GETS FUNDING BOOST Prince Edward Island is supporting the aerospace industry by providing more than $5 million in provincial government support to expand one company’s operations. This is part of a commitment to help grow the economy and build on Island successes says Premier Wade MacLauchlan. “Vector Aerospace is a cornerstone of this province’s aerospace industry and the second biggest private sector employer on the Island,” said MacLauchlan. Over $4 million will be provided through Finance PEI’s Century Fund, repayable over a 15 year term. The province will also provide a non-repayable contribution of $1.3 million, which will be paid out in 2017 should Vector maintain or exceed current staffing levels. Vector Aerospace has also signed a new 15 year lease with Slemon Park Corporation. “The company provides hundreds of high paying jobs in a rural part of the province and makes a major contribution to our economy,” said Minister of Economic Development and Tourism Heath MacDonald. Vector Aerospace Engine Services Atlantic currently employs 440 workers at its Slemon Park facility. Vector provides aircraft engine repair, restoration and overhaul services to companies worldwide. www.canadianmetalworking.com

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Canadian Metalworking is one of Canada’s largest industrial magazines and also one of its oldest, publishing continuously since 1905. Canadi...

06cmw august2015 de  

Canadian Metalworking is one of Canada’s largest industrial magazines and also one of its oldest, publishing continuously since 1905. Canadi...