For the second time since its incorporation, Atlantic Turbines Inc. is undergoing a major expansion. The $4.9 million expansion will see the company grow by at least 25 employees and will increase their physical location by 20,000 square feet. The funding was announced today by the Honourable Pat Binns, Premier of Prince Edward Island, and Joe McGuire, Member of Parliament for Egmont, on behalf of the Honourable Fred Mifflin, Minister of Veterans Affairs and Secretary of State (Atlantic Canada Opportunities Agency), and the Honourable Pierre S. Pettigrew, Minister of Human Resources Development Canada.
"Atlantic Turbines has built a strong reputation for quality service and top response times, which is so critical in the aerospace industry," said Premier Binns. "The Atlantic Turbines expansion is further evidence that aerospace firms on Prince Edward Island can compete with anybody in the world on the basis of turnaround time, quality, workmanship and price."
Atlantic Turbines Inc. is a repair and overhaul facility for Pratt & Whitney Canada's PW100 series of gas turbine aircraft engines. The company is licensed to offer repair and overhaul services on a worldwide basis to commercial airline operators whose fleets include aircraft powered by the PW100 series engines.
"The aerospace industry on Prince Edward Island has developed over the past six years to become an important part of not only the local Summerside economy, but the whole Province," said Mr. McGuire. "This expansion by Atlantic Turbines provides
new employment opportunities for Island youth in an exciting and obviously thriving aerospace industry on PrinceEdward Island."
The company is expanding in response to an increase in market demand. In addition to leasing an additional 20,000 square feet of space, the company will perform leasehold improvements, purchase additional tooling, and a Pratt & Whitney series 127 turbine engine, and expand the capacity of their engine test cell.
"The reason Atlantic Turbines is the world leader in the repair and overhaul of the PW100 engine is due to the dedication and hard work of our employees," said John MacDougall, President of Atlantic Turbines Inc. "This expansion is a compliment to our employees."
Assistance for the expansion of operations at Atlantic Turbines is being provided through a provincial investment of $794,000, and a $1,000,000 contribution from the Atlantic Canada Opportunities Agency. Human Resources Development Canada is providing a $195,000 contribution through its Transitional Jobs Fund, which is designed to encourage partnership initiatives with other levels of government, the private sector and community groups. Atlantic Turbines will invest $2,967,000 toward the total cost of the expansion of $4,956,000.
Transitional Jobs Fund projects are subject to consultations with the provincial or territorial government in which the activity takes place, regardless of its financial participation.