The Honourable Mike Currie, Development and Technology Minister, and Joe McGuire, Member of Parliament for Egmont, joined Mr. Bernd Kessler, Vice-President and General Manager of Aviation Aftermarket Services today to announce their support for the expansion plans of Honeywell Engine Systems & Services (ES&S).
"Honeywell's presence in PEI over the last several years has been extremely beneficial to our provincial economy," said Minister Currie. "Not only does Honeywell continue to surpass our growth expectations, but this company very nicely illustrates just how well an aerospace company can flourish in Prince Edward Island."
Honeywell has chosen to expand its PEI operations to include the CFM56 and CF6 fuel control business. The Province of PEI, through Prince Edward Island Business Development is providing $2 million for this expansion and further expansion of the product line planned for over the coming months. The Government of Canada, through the Atlantic Canada Opportunities Agency, is providing $500,000 toward the transfer of the fuel control business to the PEI plant.
The Canada/Prince Edward Island Labour Market Development Agreement, co-managed by Human Resources Development Canada and the provincial Department of Development and Technology, will provide participant wage subsidies to help hire up to 40 eligible individuals to work as fuel control technicians, customer support workers and buyers within the company. This expansion will help develop the local workforce and highlights the career potential within the aerospace industry in PEI.
"The Government of Canada is pleased to be able to provide critical support to help the PEI division of Honeywell Canada diversify its product line and expand into new markets," noted Mr. McGuire, on behalf of the Honourable Gerry Byrne, Minister of State for the Atlantic Canada Opportunities Agency and the Honourable Jane Stewart, Minister of Human Resources Development. "The aerospace industry has been forced by recent events to find ways to cut costs and increase efficiencies. Because of the high quality work and rapid turnaround time being produced by the PEI plant, Honeywell has recognized that the workforce here can greatly help the company improve its bottom line."
"Honeywell brings this opportunity to the Slemon Park facility because it provides us with a competitive solution for achieving business growth in the aerospace sector. We also recognize that the local workforce has gained an exemplary reputation, both at Honeywell and on the Island, with their levels of expertise and fast turnaround times," said Mr. Kessler.
Ten years ago, the aerospace industry was nonexistent 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. Additional positions will be created at Honeywell due to this expansion, with their workforce expected to double by February 2004.
Honeywell is a diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services, control technologies for building homes and industry, automotive products, turbochargers, specialty chemicals, fibres, plastics, and electronic and advanced materials. For additional information, please visit www.honeywell.com.