Investment in Beresford Company Leads to New, Cutting Edge Drill
News release
May 14, 2018– Beresford, NB – Atlantic Canada Opportunities Agency
Supporting businesses and encouraging innovation in rural communities helps create opportunities for business growth and good paying jobs for the middle-class and those looking to join it.
Discovery Drill Manufacturer (DDM) has developed a new hydraulic diamond drill prototype, the first of its kind on the market, which will allow them allow them to remain competitive with existing and future clients. The project was possible thanks to investments of nearly $300,000 from the governments of Canada and New Brunswick.
Serge Cormier, Member of Parliament for Acadie-Bathurst, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), joined the Honourable Brian Kenny, MLA for Bathurst-West-Beresford, and John Labonville, President of Discovery Drill Manufacturer, to make the announcement today.
The investment enabled the company to develop and manufacture an EF-100 hydraulic diamond drill with a depth capacity of 11,363 feet. This investment has also benefited the local economy, as 90% of DDM’s suppliers are local. The Government of Canada contributed $143,000 through ACOA’s Business Development Program to the project. The Province of New Brunswick, through Opportunities NB, contributed $250,000.
This project builds on the Government of Canada’s commitment to drive economic growth in Atlantic Canada through the Atlantic Growth Strategy, by investing in strategic projects that build on the region’s competitive advantages, such as its strong export potential and skilled workforce.
Quotes
“The Government of Canada is deeply committed to helping Atlantic Canadian businesses grow and innovate so that they can continue to create good quality jobs and generate wealth within their communities. Through ACOA, we are making strategic investments in companies like Discovery Drill Manufacturer to help them build on their strengths and remain competitive.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“Discovery Drill Manufacturer has built upon a long history of expertise in drilling with this new prototype. Innovation is critical to the economic future of our region, and the development of this new drill will mean spinoff benefits for numerous area suppliers. I am pleased that our government’s support through ACOA has helped DDM innovate and develop a one-of-a-kind diamond drill.”
- Serge Cormier, Member of Parliament for Acadie-Bathurst
“Your government has been working every day to support the growth of innovative companies like Discovery Drill,” said Education and Early Childhood Development Minister and Bathurst-West Beresford MLA , Brian Kenny. “Your government’s plan for creating jobs and growing New Brunswick’s economy is continuing to get results. This is more proof that we are getting things done on behalf working families here in Bathurst-West Beresford and across the province.’’
- The Honourable Brian Kenny, Bathurst-West-Beresford MLA
“This expansion is a big accomplishment for the Discovery Drill family. To compete in our industry we must continue to innovate. The support of the Government of Canada and the Province of New Brunswick has been a big help in taking our products to the next level. We know our clients will be as excited as we are about our next generation of products.”
- John Labonville, President of Discovery Drill Manufacturer
Contacts
Jennifer Houle
Senior Communications Officer
Atlantic Canada Opportunities Agency
506-261-5534
Carol Rankin
Communications
Opportunities NB
506-453-6753
John Labonville
President
Discovery Drill Manufacturer
506-542-9708
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