Lunenburg's ABCO Industries Ltd. is expanding its operations.
The manufacturer of engineered metal products for processing and marine industries is working on a $337,000 project to purchase new manufacturing equipment and a wharf extension to serve its growing business demands, specifically, the order for two 18-metre research vessels for the Canadian Coast Guard.
The province through Nova Scotia Business Inc. (NSBI) is complementing ABCO Industries Ltd., investment with a payroll rebate capped at a maximum of $161,525 over five years.
The rebate will allow the company to upgrade its facilities and lower production costs through upgrades, and improvements to infrastructure and equipment.
"We are proud to be working with an innovative company like ABCO, a company meeting the changing demands of the global economy, ensuring it will be here to contribute in the future," said Minister of Economic and Rural Development Percy Paris.
ABCO Industries Ltd. delivers a diverse range of products including custom aluminum boats, and a new sludge dewatering truck that allows for efficient extraction of solid waste material from septic tanks.
"With this investment we are able to improve our production ability and keep delivering high quality customer service as we enter new market opportunities," said John Meisner, president, ABCO Industries Ltd. "We've completed part of our project including the wharf extension and delivery of one of the vessels and we continue to move forward with developments like a new sludge dewatering truck.
ABCO Industries Ltd. was founded in 1947, on a site originally built as a training facility during World War II. Since then, the company has continually grown and has about 60 employees.
"ABCO is a great example of a company that found innovative ways to maintain its competitiveness during economic uncertainty,” said Stephen Lund, president and CEO, Nova Scotia Business Inc.” We want to work with more companies like this to help them remain aggressive and ready to come out ahead once the economy turns around.”
ABCO Industries Limited is a world class supplier and manufacturer of engineered metal products to processing and marine industries. ABCO's operations are located on the waterfront of the UNESCO World Heritage designated town of Lunenburg. ABCO's goal is to provide customers with the highest standard of quality and value.
Nova Scotia Business Inc. is Nova Scotia's private-sector-led business development agency. NSBI is the investment-attraction arm of the province and helps businesses in Nova Scotia meet growth potential through advisory services, trade development, financing and venture capital.