The Confederation Bridge Project has not only left Prince Edward Island with a link to the mainland, it has also left the Island with world class processing and manufacturing facilities. One such facility - the reinforcing steel shop in Slemon Park - will continue to operate under the ownership of Friman Steel Ltd.
The purchase of the reinforcing steel shop was announced today by the Honourable Wes MacAleer, Prince Edward Island Minister of Economic Development and Tourism, the Honourable Joe McGuire, Member of Parliament for Egmont, and Mr. Don Mangos, President and Co-owner of Friman Steel.
"This facility is top-of-the-line," said Mr. Mangos. "The quality of the product that has been, and will continue to be produced here can compete with any in the world. The facility itself was designed by international experts from Europe and the United States, and we have a highly skilled labour force that has already achieved productivity in this area way above industry averages."
"This facility has already proven itself to be world-class by producing a high quality product that has been used in a super-project, the Confederation Bridge," said Minister MacAleer. "Friman Steel will find itself in a very competitive position not only in PEI, but in the Atlantic region and beyond."
According to Bert Friolet, Vice-President of Friman Steel Ltd., the company will begin by focussing on Island companies that require a continuous supply of reinforcing steel and Island projects requiring rebar. He says, "That focus will widen to include Atlantic Canada and maybe New England. We have already filled some orders and the future looks bright."
"One of the strengths of this venture is its knowledgeable and available workforce," said Mr. McGuire. "The operation of this facility by Friman Steel will create 13 full time jobs for people in the area - people who may have found themselves out of work as the Confederation Bridge project came to an end. This is great news."
Not only is the workforce knowledgeable, but Mr. Mangos and Mr. Friolet have extensive experience in the plant. Both men worked for Strait Crossing Joint Venture, previous owners of the facility, on the Confederation Bridge Project. In fact, Mr. Friolet worked as the lead field engineer, touring rebar facilities in Central and Eastern Canada to aid in the design of the facility.
Mr. Mangos worked on the Confederation Bridge project as a quality control engineer, and as President of Friman Steel Ltd. will focus on sales and marketing.
Funding for this project was provided by Enterprise PEI and the Atlantic Canada Opportunities Agency (ACOA). Enterprise PEI provided $100,000 from its Venture Capital Fund and an additional $100,000 for opening inventory from it's Lending Agency. ACOA has invested $180,000 through its Business Development Program (BDP).