The importance of competing on a world stage can’t be overstated. International markets unlock a scale and scope of opportunity that companies can’t realize within the bounds of Nova Scotia. And in doing so, they up the ante on everything from competition and performance, to sales and innovation.

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Chair’s Message

Jim Eisenhauer | Chair

Message from the Chair, Jim Eisenhauer

In 2011, the board of directors was pleased to oversee a number of initiatives that are helping Nova Scotia companies break through internationally.

Meeting the changing demands of a global economy fuels innovation and boosts productivity

I’ve witnessed the transformative power of global competitiveness in my roles as Chair of NSBI’s board, and as CEO of ABCO Industries Limited, an engineered metal products manufacturer based in Lunenburg. Meeting the changing demands of a global economy fuels innovation and boosts productivity. This in turn creates good jobs and drives economic growth.

International success is frequently built on domestic strength—it can be hard to sell ‘widgets’ abroad if you haven’t sold them locally. In ABCO’s case, years of serving local processing and marine customers and investing in advanced technology have built the team’s expertise and given us the confidence to enter new markets.

But to be a global player, you have to be prepared. An international commerce strategy that is part of jobsHere, Nova Scotia’s economic plan, is designed to help homegrown companies do just that: build international capacity, strengthen our access to international markets and networks and build an integrated approach to global commerce.

It’s no longer enough to bring Nova Scotia products and services to the world. To really compete in an inter-connected global economy, we must also bring the world to Nova Scotia through international partnerships and export opportunities.

NSBI’s $15.1 million investment in Cherubini Metal Works Ltd., authorized in March 2011, is a good example of this. After 40 years in business and numerous international contracts later, the 150-employee steel fabrication yard had reached capacity.

NSBI investments in cornerstone companies create a cycle of growth.

Our financing came at the right time and will support Cherubini’s plans to expand its facilities, provide high-paying jobs and bring large-scale projects that couldn’t previously be completed here.

It’s an inspiring evolution: NSBI investments in cornerstone companies create a cycle of growth, as they in turn source products and services from smaller Nova Scotia companies. As a board, we’re proud of our big wins, and we are committed to supporting Nova Scotia businesses at all evolutionary stages.

Our 2010/11 Annual Report provides some snapshots of our activity from the past year. Throughout, you’ll see how our balanced approach to business development has helped drive success abroad and prosperity at home.

Cherubini Group of Companies

Cherubini Group started more than 40 years ago in a small shop off Highway 7 in Dartmouth, fabricating stairs and railing for apartments and houses around Halifax and Dartmouth. Today, the company is Canada’s only bridge-builder east of Quebec, and counts transportation landmarks like New York’s JFK Airport, the George Washington Bridge and the Grace Maternity Hospital in its portfolio.

1967

Brothers Jack and John Cherubini open a small metal shop off Highway Number Seven in Dartmouth.

1983

New owners (and former employees) Renato and Danilo Gasparetto move to new location in Burnside Industrial Park. Cherubini begins work on large-scale construction projects such as the Fenwick Medical Centre and the Halifax Shopping Centre.

1990’s

Cherubini’s reputation for unique and complex construction designs garners notice outside the region. The firm lands contracts with prestigious US universities such as Princeton and Harvard, and enters the Caribbean market.

2000’s

Cherubini starts work on the Deep Panuke Project as well as the Open Hydro Project, building sub-sea turbines for the Bay of Fundy.

2003

The Department of Economic and Rural Development and Tourism provides Cherubini with a $5.85 million loan for the purchase of its Woodside facility.

2006

Cherubini participates in Partner East, an NSBI-sponsored trade mission to connect Nova Scotia companies to opportunities in Alberta’s booming economy. Cherubini’s success in domestic and international markets pushes the company to capacity.

2011

NSBI provides $15.1 million term loan to support the expansion of its Woodside facility, plus the construction of a second facility nearby.

…Can’t be Overstated