Daewoo Shipbuilding & Marine Engineering (DSME) Selects Nova Scotia for Wind Turbine Manufacturing

The partnership between Nova Scotia and DSME is reflective of the province’s work to diversify its sources of foreign direct investment by tapping into emerging markets, specifically Asia.

Quotes:

“This is a historic day for Nova Scotia as we welcome another leading international manufacturer to our business community. Nova Scotia’s partnership with DSME reinforces the province’s position as a gateway to lucrative North American markets.”

~  Darrell Dexter, Premier of Nova Scotia

“Nova Scotia is the right location for DSME as we plot our strategy to diversify into the wind energy sector. We were attracted by Nova Scotia’s skilled workforce, efficient transportation systems, competitive costs and multiple energy sources, including wind, tidal and offshore. The support we received from government was another key factor in our decision.”

~ Mr. Nam Sang-Tae, CEO & President of DSME

Quick Facts:

  • Photo6_dsDaewoo Shipbuilding & Marine Engineering (DSME) has chosen Trenton, Nova Scotia for its North American production centre for wind turbine towers and blades.

  • DSME is a South Korean-based company and one of the world’s largest ship builders.
  • In 2009, DSME acquired DeWind Inc., an American wind turbine engineering company, and announced plans to expand into the wind power sector.
  • The Province of Nova Scotia and DSME have entered into a partnership. Both partners are putting equity into the new entity: DSME is contributing $20.4 million and the province is contributing $19.6 million.
  • The partnership with DSME is reflective of the province’s word to diversity its sources of foreign direct investment by tapping into emerging markets, specifically Asia.
  • International companies are choosing Nova Scotia as a business location because the province offers access to a skilled workforce, competitive business costs, an ideal location with proximity to key North American and European markets, geopolitical stability, efficient transportation systems and strong government support.
  • DSME will join a list of leading international companies in Nova Scotia, including Michelin Canada, Research In Motion, Lockheed Martin Canada, General Dynamics Canada and NewPage Corporation.
  • Nova Scotia has great renewable energy resource potential. From tidal and wind, to bio and hydro energy, much of the renewable energy potential remains untapped. 

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In The News

The following international publications are sharing this news with their readers:

Ajax World Magazine
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AlphaTrade Finance
http://finance.alphatrade.com/story/2010-03-05/PRN/201003051240PR_NEWS_USPR_____MO679.html

ANP
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Atlanta Business Chronicle
http://atlanta.bizjournals.com/atlanta/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

Area Development Online
http://www.areadevelopment.com/newsitems/3-8-2010/dsme-nova-scotia-facility7894.shtml

Arirang, Korea
http://www.arirang.co.kr/News/News_View.asp?nseq=100918&code=Ne4&category=3

AsiaNet
http://www.asianetnews.net/view-release?pr-id=38636

Asia Pacific Foundation of Canada
http://www.asiapacific.ca/news/nova-scotia-signs-agreement-south-koreas-daewoo-shipbuilding

Austin Business Journal
http://austin.bizjournals.com/austin/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

Azocleantech
http://www.azocleantech.com/details.asp?newsID=9011

Baltimore Business Journal
http://baltimore.bizjournals.com/baltimore/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

Belga Direct
http://www.belgamediasupport.be/pressrelease/detail.do?pressId=10932&type=thisweek&searchKey=3bef63ff-2885-11df-acee-f7cd5edd2686&languageId=all&pageIndex=1

Berita Indonesia Terkini
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Birmingham Business Journal
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Boston Business Journal
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Business First of Buffalo
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Business First of Columbus
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Business First of Louisville
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Business Journal of Greater Milwaukee
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Business Journal of Phoenix
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Business Journal of the Greater Triad Area
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Business Review (Albany)
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Canadian Business Online
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Canada News Centre
http://news.gc.ca/web/article-eng.do?m=/index&nid=516929

Charlotte Business Journal
http://charlotte.bizjournals.com/charlotte/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

Cincinnati Business Courier
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Dallas Business Journal
http://dallas.bizjournals.com/dallas/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

Dayton Business Journal
http://dayton.bizjournals.com/dayton/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

Denver Business Journal
http://denver.bizjournals.com/denver/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

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Earth Times
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East Bay Business Times
http://eastbay.bizjournals.com/eastbay/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

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Energyboom.com
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Energy Industry Today
http://energy.einnews.com/article.php?nid=307868

Euro Investor
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evwind.es
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Examiner.com
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Forbes.com
http://www.forbes.com/feeds/prnewswire/2010/03/05/prnewswire201003051240PR_NEWS_USPR_____MO679.html

Houston Business Journal
http://houston.bizjournals.com/houston/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

Interest!ALERT
http://interestalert.com/story/03050000aaa018b3.prn/siteia/OILENERG/oil_and

Jacksonville Business Journal
http://jacksonville.bizjournals.com/jacksonville/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

Kansas City Business Journal
http://www.bizjournals.com/kansascity/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

Los Angeles Business from bizjournals
http://losangeles.bizjournals.com/losangeles/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

Memphis Business Journal
http://memphis.bizjournals.com/memphis/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

MenaFN.com
http://www.menafn.com/qn_news_story_s.asp?StoryId=1093312031

Minneapolis / St. Paul Business Journal
http://twincities.bizjournals.com/twincities/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

Nashville Business Journal
http://nashville.bizjournals.com/nashville/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

Net PR
http://media.netpr.pl/pr/159237/korean-manufacturer-chooses-nova-scotia-for-north-american-production-plant

New Mexico Business Weekly
http://albuquerque.bizjournals.com/albuquerque/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

North American Wind Power
http://www.nawindpower.com/e107_plugins/content/content.php?content.5448

Oil & Gas Industry Today
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Orlando Business Journal
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Pacific Business News
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Philadelphia Business Journal
http://philadelphia.bizjournals.com/philadelphia/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

Pittsburgh Business Times
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Portland Business Journal
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PR Newswire Europe
http://www.prnewswire.co.uk/cgi/release?id=280778

Pressemeldinger
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Press Trust of India
http://www.ptinews.com/pressrelease/2059_press-subKorean-Manufacturer-Chooses-Nova-Scotia-For-North-American-Production-Plant

Puget Sound Business Journal
http://seattle.bizjournals.com/seattle/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

Rechargenews.com
http://www.rechargenews.com/business_area/finance/article208221.ece

Reuters
 http://www.reuters.com/article/idUS184125+05-Mar-2010+PRN20100305

Sacramento Business Journal
http://sacramento.bizjournals.com/sacramento/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

San Antonio Business Journal
http://sanantonio.bizjournals.com/sanantonio/prnewswire/press_releases/national/Nova_Scotia/2010/03/05/MO679

San Francisco Business Times
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San Jose Business Journal
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Sea Trade Asia
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South Florida Business Journal
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St. Louis Business Journal
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SYS-CON Media
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Tampa Bay Business Journal
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TheBioenergySite.com
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TD Waterhouse
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Triangle Business Journal
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Washington Business Journal
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Wichita Business Journal
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Wind Power Monthly
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World Business Broadcast
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WR Hambrecht & Co.
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Yahoo!
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Yahoo! Canada
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