Government of Canada announces support to help a New Brunswick company modernize, compete, and reach new markets
News release
Strengthening Canadian productivity and supply chains in evolving international markets
July 29, 2026 · Saint John, New Brunswick · Atlantic Canada Opportunities Agency (ACOA)
Atlantic Canadian businesses are modernizing to drive productivity and build resilience in a shifting global economy. By helping firms optimize supply chains and adopt the technologies they need to compete in new markets, the Regional Tariff Response Initiative (RTRI) is strengthening Atlantic Canada’s industrial capacity and helping the region lead on the world stage.
Today, the Honourable Wayne Long, Secretary of State (Canada Revenue Agency and Financial Institutions), and Member of Parliament for Saint John – Kennebecasis, announced a federal investment, through the Regional Tariff Response Initiative (RTRI), to support Ocean Steel & Construction Ltd. in Saint John, New Brunswick ($750,000).
This investment will support Ocean Steel & Construction as it modernizes its fabrication operations by installing advanced Computer Numerical Control (CNC) cutting equipment, automated plate handling systems, and robotic welding technology. These upgrades will improve efficiency and competitiveness, enhance digitalization and safety, and help them navigate steel tariffs.
Today’s announcement demonstrates the Government of Canada’s commitment to building a stronger economy to make life more affordable and helping Canadian businesses succeed in a more uncertain global economy. By investing in productivity, innovation, and stronger supply chains, firms are receiving support to adapt, modernize, and pursue new market opportunities.
This announcement was made on behalf of the Honourable Sean Fraser, Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency.
Quotes
“When we invest in the productivity of Atlantic Canadian businesses, we are sharpening Canada’s competitive edge. The Regional Tariff Response Initiative provides the tools local companies need to modernize their operations and build the strength required to thrive in a changing global marketplace.”
- The Honourable Sean Fraser, P.C., K.C., Member of Parliament for Central Nova, Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency
“Saint John is home to innovative companies that are creating good jobs and strengthening our local economy. This investment is helping Ocean Steel & Construction modernize its operations, adopt new technologies, and reach new markets. By supporting this project, we’re building stronger supply chains and positioning New Brunswick as a hub for growth and innovation in Atlantic Canada.”
- The Honourable Wayne Long, Secretary of State (Canada Revenue Agency and Financial Institutions), and Member of Parliament for Saint John – Kennebecasis
“This investment is about strengthening our operations and keeping our people employed here in New Brunswick. By modernizing our facilities, we’re increasing efficiency, and building Ocean Steel & Construction’s capacity to compete across North America as demand continues to grow. We are prioritizing this work to support steel manufacturing jobs and long-term growth in the region.”
- Hans O. Klohn, President, Ocean Steel & Construction Ltd.
Quick facts
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Incorporated in 1955, Ocean Steel & Construction Ltd. is a New Brunswick-based structural steel fabricator and erector operating plants in both Saint John and Fredericton. The company employs approximately 200 people and operates markets throughout Canada and the New England states.
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The Regional Tariff Response Initiative is a $1.5 billion national investment to help Canadian businesses respond to global trade pressures, strengthen productivity, and build long-term competitiveness.
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On May 4, the Government of Canada announced an additional $500 million through the Regional Tariff Response Initiative (RTRI) to support tariff-impacted businesses in all sectors of our economy. This includes $200 million carved out for small- and medium-sized enterprises (SMEs) that have been affected by steel, aluminum and copper tariffs.
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In Atlantic Canada, ACOA is delivering $110 million under the Regional Tariff Response Initiative to support small and medium-sized enterprises as they modernize operations, strengthen supply chains, and pursue new market opportunities.
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The Regional Tariff Response Initiative is a time-limited, three-year initiative ending March 31, 2029, or until funds are fully committed.
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By strengthening productivity and stabilizing supply chains, projects like this help support good jobs in Canada’s steel sector and the communities that rely on them.
Associated links
- Prime Minister Carney launches new strategy to transform Canada’s auto industry | Prime Minister of Canada
- Prime Minister Carney announces new measures to make groceries and other essentials more affordable for Canadians | Prime Minister of Canada
- Government of Canada announces a new $1 billion Business Development Bank of Canada program and $500 million in additional funding for the Regional Tariff Response Initiative, delivered by the regional development agencies
- Learn more about the Regional Tariff Response Initiative in Atlantic Canada
- Canada-United States: Overview and federal supports - Canada.ca
- Resources and tools for Canadian exporters facing U.S. tariffs - Tradecommissioner.gc.ca
- Ocean Steel & Construction Ltd.
Contacts
Jeanne Joanne Fogue Mgamgne
Press Secretary
Office of the Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency
Joannie.fogue@justice.gc.ca
Media Relations
Atlantic Canada Opportunities Agency
mediaroom-salledesmedias@acoa-apeca.gc.ca
Shannon Penny-Rocca
Manager-Corporate Citzenship
Ocean Steel & Construction
info@ocil.ca
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