December 21, 2004 Bloomfield, Prince Edward Island Testori Americas Corporation officially opened its new 35,000-square-foot manufacturing facility in the West Prince Industrial Park today. The expansion of Testori's operations in PEI became necessary to meet the increasing orders from its mass transit vehicle clients. Twelve years ago, the aerospace industry on PEI was non- existent. Today, this sector represents 20 percent of PEI's exports with sales of $180 million last year and a projected $263 million by the end of 2004. Collectively, the industry employs over 800 people. Testori Americas, which currently employs 230 workers, has created 38 additional positions from the Bloomfield expansion. In the last year, the Testori workforce has increased by over 100 jobs. In addition, sub-contractors supplying Testori Americas are employing 40 workers in locations across PEI from Souris to Alberton. On hand for the official opening ceremonies, were the Honourable Joe McGuire, Minister for the Atlantic Canada Opportunities Agency and Member of Parliament for Egmont; the Honourable Gail Shea, MLA for Tignish-Deblois; Harvey Stewart, Chair of the Board for Resources West; and, Lindo Lapegna, President of Testori Americas Corporation. "Testori Americas is one of PEI's greatest success stories and ACOA is pleased to continue to build upon our very positive relationship with this successful company. I also want to recognize the vision of the board of directors of Resources West, who constructed the facility that now houses Testori's operations in Bloomfield," said Minister McGuire. "The expansion of aerospace into West Prince is truly symbolic of what can be accomplished in rural Prince Edward Island with a little ingenuity, some hard work and willing partners such as Testori Americas. I believe this important development in West Prince opens the door for more to come." ACOA provided a loan for $500,000 to Testori Americas through the Business Development Program (BDP) to purchase new equipment required as a result of this expansion. In addition, ACOA and PEI Business Development provided financial support to Resources West, which owns the facility that houses Testori Americas. The 50,000 square foot industrial complex was financed through a contribution of $1.5 million from ACOA's Strategic Community Investment Fund, and a contribution of $1million through PEI Business Development Inc. with $500,000 toward the building's construction costs and another $500,000 for modifications required by future tenants such as Testori Americas. "Companies like Testori Americas are increasingly realizing the benefits of investing in West Prince such as quality infrastructure, a dedicated workforce and the province's competitive tax environment "said Minister Shea." With the Province's support, the business park created here in Bloomfield has helped spark new business development and job creation through growing industries such as aerospace. The Province is very pleased to have Testori as a partner in our continuing efforts to bring economic growth and opportunity to the people of West Prince." During its eight-year history, Testori Americas Corporation has evolved from a small distributor of manufactured textiles into a major North American participant in the aerospace and mass transit industries. Company founder and President Lindo Lapegna commented, "Our rapidly growing sales are a direct result of the quality work being performed by our employees, and we expect to see our sales continue to grow at this rapid pace into the foreseeable future. Testori is grateful for the continued support we have received from both the provincial and federal governments." - 30 - For more information, please contact: Ron Crozier Office of the Minister for ACOA (902) 888-4150 Ann Thurlow Development & Technology (902) 569-0571 Lindo Lapegna Testori America Corp. (902) 888-3200, ext: 222 David Anderson Resources West (902) 859-2235 Wes Harrison ACOA PEI & Tourism (902) 368-0842 wes.harrison@acoa-apeca.gc.ca
