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November 5, 2010
For immediate release
Tube Fab, TFL Expansion brings 100 aerospace manufacturing jobs to Summerside
The precision machining operations of TFL Technologies of Cornwall, Prince Edward Island, and sister company Tube-Fab Limited of Toronto, Ontario, will consolidate their operations in a new and expanded facility in Summerside with support provided by the federal and provincial government.
The Government of Prince Edward Island through the Department of Innovation and Advanced Learning is supporting the project with a five year, $1.2 million repayable demand loan secured by assets of the Company. The Atlantic Canada Opportunities Agency has invested $227,500.
“The government of Prince Edward Island is pleased to support TFL Technologies as they open a consolidated Canadian operation in Summerside, Prince Edward Island,” said Minister of Innovation and Advanced Learning Allan Campbell. “TFL Technologies has been an employer in our aerospace sector for thirty years, and we are excited to see TFL and their sister company Tube Fab Limited chose Prince Edward Island for the location of their consolidated Canadian operation which will bring approximately 80 new jobs to Prince Edward Island.”
“Our government, through ACOA, is committed to growing the aerospace sector in PEI,” said the Honourable Keith Ashfield, Minister of National Revenue, Minister of the Atlantic Canada Opportunities Agency and Minister for the Atlantic Gateway. “By encouraging the pursuit and adoption of innovation by firms like TFL Technologies, we are enhancing our regional competitiveness and helping Atlantic Canadian companies respond effectively to the challenge and opportunity for growth and export.
“We are pleased to announce the opening of our expanded operations in Prince Edward Island,” said Chairman and CEO of TFL Technologies Kirk Foley. “The Island is a competitive and attractive location on which to build business opportunities that are world scale and reach all corners of the globe. This announcement proves that there are no remote locations any more … only those who refuse to be driven by innovation and energy. PEI is an attractive place to live and to work and is a favoured location by those that experience our community and its creativity.”
Municipal, provincial, and federal governments are working with Tube-Fab Limited as the company moves ahead with the development of an appropriate facility in the Summerside area to house its consolidated operation.
The Provincial loan will be used in conjunction with a commercial lender to support the expansion of the business in Prince Edward Island, and ACOA’s investment will help TFL Technologies (2010) Ltd expand their product offering to include Non-Destructive Testing (NDT).
TFL Technologies currently employs 20 staff in Cornwall, Prince Edward Island. Over the next year, they will be transitioned to the expanded operation in Summerside, where the new operation will grow to approximately 100 employees.