Aerospace Companies Team up to Create New Exports and More Jobs
Two rural Nova Scotia companies are combining their expertise to increase the capacity of Nova Scotia's aerospace and defence industry by building and exporting parts for aerospace giants like Airbus.
A provincial investment of up to $850,000 will have a ripple effect in the industry. IMP Aerospace Components in Amherst, a division of the IMP Group, will use the $850,000 loan for equipment and process enhancements.
When completed over the next five to 10 years, the improvements will result in the production of parts at IMP that Composites Atlantic, which is headquartered in Lunenburg, can buy to use in the Airbus components they now produce.
Currently, Composites must buy these parts in Europe. The new collaboration will strengthen the reputation, skills, research and development and export capacity of Nova Scotia's aerospace industry worldwide.
The announcement was made today, Jan. 19, by officials at both company locations: in Amherst by Economic Development Minister Ernest Fage, and in Lunenburg at the Composites Atlantic plant by Justice Minister Michael Baker.
"This is exciting news for all IMP Aerospace Components employees and for the town of Amherst," said David Pearson, vice-president and general manager of IMP Aerospace Components. "By reinforcing our teamwork philosophy within IMP and developing a close working relationship with Composites Atlantic, we will all be working hard to create and develop synergies in pursuit of business with Airbus in Europe and across the North American supply base."
The initial investment, an $850,000 repayable innovation loan, will be provided by the Office Economic Development to allow IMP Aerospace Components to buy equipment that will enable research and development. Once the company reaches the production stage, in three to five years, and wins bidding contracts, up to 40 employees could be hired. Composites Atlantic plans to be IMP Component's first customer, to save time and shipping costs associated with current European suppliers.
"Today's announcement is the culmination of a year's effort by Ken Rowe, president of IMP, and Maurice Guitton, president and CEO of Composites Atlantic," said Mr. Fage. "The real significance of this project is that it represents a breakthrough business opportunity for IMP and Composites Atlantic who, together, will bring more business to Nova Scotia from Airbus."
In Lunenburg, Composites Atlantic is looking forward to the long-range benefits of the project. Its shipping timelines and bottom line will be positively affected due to the close proximity of Amherst to Lunenburg.
"Special thanks to the employees who make working relationships like this happen," said Mr. Guitton. "Our teams in Lunenburg, Montreal and Seattle are working hard to grow our business, and the skill and expertise of our aerospace workers in Nova Scotia are the driving force behind the export growth in this industry."
"Without the continuing support of the people of Lunenburg and the province of Nova Scotia, we could not make these kinds of initiatives work," added Derek Kinsman, chief operating officer of Composites Atlantic.
"“The aerospace and defence industry is a major employer in our region," said Mr. Baker. "It is a competitive market, and it is important that the province supports the innovative technology capability of businesses and employees to ensure the industry and the communities it supports continue to thrive."