Joe McGuire, Member of Parliament for Egmont, and Development and Technology Minister Mike Currie, today announced their support for the expansion plans of Testori Americas into a new facility being built at the West Prince Business Park in Bloomfield, PEI.
“The Government of Canada is pleased to provide support to help Testori Americas expand its production capabilities,” noted Mr. McGuire on behalf of the Honourable Gerry Byrne, Minister of State for the Atlantic Canada Opportunities Agency (ACOA). “Testori’s decision to establish a presence in this area of western Prince Edward Island is great news. As a direct result of this company’s continuing success in the aerospace and mass transit industries, this region will see many quality jobs become available.”
During its eight year history, Testori Americas Corporation has evolved from a small distributor of manufactured textiles into a major North American participant in the aerospace and mass transit interior industry. Testori is currently delivering on a number of attractive contracts with industry leaders including Bombardier and Alstom. These contracts have resulted in significant sales growth over the last number of years and sales are projected to continue to grow at a rapid rate over the next few years. As a result, Testori Americas is seeking to increase its manufacturing capacity and efficiency. The Bloomfield location will provide much needed capacity in a modern and efficient facility.
“Bringing increased employment opportunities to West Prince County has been an important goal for our government,” said Minister Currie. “I am pleased that we have such an excellent partner in Testori Americas, and I am confident today’s announcement will be of great help to people who are looking for long-term, stable employment.”
“Testori Americas Corporation is very pleased with the support it continues to receive from both the federal and provincial governments,” said Lindo Lapegna, President of Testori Americas. “As a direct result of the quality work being performed by our employees we have been able to grow our sales substantially. With this additional manufacturing capacity resulting from this expansion, we expect to see our sales continue to grow at a rapid pace into the foreseeable future.”
Ten years ago, the aerospace industry was non-existent on PEI. Today, this sector represents 20 percent of PEI’s exports with sales of $150 million a year. The industry currently employs approximately 550 people. Testori Americas, which currently employs 160 workers, anticipates 40 new positions will be created at due to this expansion.
ACOA is providing $500,000 to Testori Americas Corporation through the Business Development Program (BDP) to purchase new equipment required as a result of this expansion. The BDP provides financial assistance to small-and-medium-sized enterprises wishing to establish themselves, or expand and modernize their operations.
Prince Edward Island Business Development Inc is providing $500,000 through a conditional non-repayable contribution to assist in the purchase of equipment for the new facility. Prince Edward Island Business Development is the lead agency responsible for economic development in the province. The corporation provides leadership in the implementation and support of economic development and assists the establishment and maintenance of profitable and wealth-creating businesses in Prince Edward Island.