APEX Industries Sets its Sights on Greater Growth
May 17, 2018 - Moncton, NB – Atlantic Canada Opportunities Agency
Businesses need adequate resources in order to grow and innovate. New hires and expansion are part of a multi-year growth plan that Moncton-based APEX Industries Inc. will undertake thanks to a federal and provincial government investment of $2.6 million.
The Honourable Ginette Petitpas Taylor, Minister of Health and Member of Parliament for Moncton-Riverview-Dieppe, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), along with the Honourable Brian Gallant, Premier of New Brunswick, joined officials from APEX Industries Inc. to make the announcement today.
The project allows the company to move forward with the initial stage of its growth plan by expanding its steel door division, upgrading equipment and hiring new employees. APEX Industries Inc. is a high growth and diversified manufacturer and distribution company that supplies customers throughout the world. APEX operates in various business sectors including aerospace and defence, oil and gas, mining, marine, and construction.
The Government of Canada is providing a $1.5 million repayable contribution through ACOA’s Business Development Program. The Province of New Brunswick is investing up to $1.1 million over a period of four years. The provincial investment includes a non-repayable contribution of $500,000, or up to 10 per cent of the total capital expenditures, and up to $600,000 in the form of payroll rebates.
The combined federal and provincial investment will create up to 80 jobs.
This type of investment builds on commitments made by the Government of Canada and the four Atlantic provinces to drive economic growth in the region through the Atlantic Growth Strategy, which supports strategic investments in initiatives that build on the region’s competitive advantages such as its skilled workforce and export potential.
“As Minister of Innovation, Science and Economic Development, my goal is to help businesses grow, innovate and export so that they can create high-quality jobs and wealth for Canadians. That is why we support enterprises like APEX Industries.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“Today’s announcement supports the Government of Canada’s commitment to invest in projects that drive innovation and create jobs for the region while supporting growth for the manufacturing sector.”
- The Honourable Ginette Petitpas Taylor, Minister of Health and MP for Moncton-Riverview-Dieppe
“Creating jobs is at the heart of your government’s multi-year economic growth plan. Having a homegrown success story like APEX choose to reinvest in our province demonstrates New Brunswickers offer a strong workforce that allows businesses to compete from right here in New Brunswick.”
- Brian Gallant, Premier of New Brunswick
“We are pleased to be expanding our Steel Door Manufacturing Group, which has shipped quality doors and frames to more than 110 countries around the world. The new state of the art manufacturing equipment will triple our current capacity, enable quick ship delivery, and increase our competitiveness to export markets across North America. While I congratulate the entire hard-working Steel Door Team for making this possible, it will also mean bringing new people into our company. Employing Atlantic Canadians and giving them the opportunity to do innovative, value-added work for our customers is a very important part of our mission at APEX.”
- Keith Parlee, Chief Executive Officer, APEX Industries Inc.
Paul CJ LeBlanc
Senior Communications Officer
Atlantic Canada Opportunities Agency
Chief Executive Officer
APEX Industries Inc.
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