Province Helps Truro Company Meet Sales Demands

The province announced today, Dec. 21, it is providing a Truro-based company with a $700,000 loan guarantee to help it meet production demands from increased sales.

Bartlett Plastics and Precision Machining Ltd. is Atlantic Canada's leading source for custom-moulded plastics and computer-controlled laser cutting and precision metal work. The company's 34 employees supply custom parts to some of Nova Scotia's biggest exporters.

"The province's support is important as Bartlett Plastics seeks to meet the demands for its products," said Economic Development Minister Richard Hurlburt. "With the loan guarantee, the company and its employees can focus on attracting even more new business and expanding their export potential."

The company has secured new contracts, and demand for products means more work and higher manufacturing costs. The loan guarantee will help the company raise additional working capital to offset production costs. Five more employees will be hired.

"With the province's help, we are in a position to attract new business while maintaining excellent service to our current customers," said Barry Bartlett, owner and president of the company. "We are pleased to receive this support and look forward to providing more employment opportunities for Nova Scotians."

The loan guarantee is provided by the Industrial Expansion Fund. The fund offers a variety of financial assistance to help the province's economy. Over the past two years, it has helped create or maintain more than 3,000 jobs in the province and has a return on investment of three dollars for every dollar spent.