DSME Trenton has already received $56.3 million in government support
HALIFAX—The Nova Scotia government is making clear it won’t be putting any more public money into a heavy steel manufacturing facility in northeastern Nova Scotia that has already received $56.3 million of provincial money.
A news release from DSME Trenton said after a board meeting on Thursday that it is trying to secure orders in heavy steel fabrication in the wind, oil and gas and rail sectors.
Business Minister Mark Furey said after cabinet that there is no more government money available to invest in the company, a point Premier Stephen McNeil repeated a few minutes later.
A company release also said that Ernst and Young will continue to work on behalf of the firm to help attract third party investment.
Scott Covey, project manager with the firm, said there are currently 31 employees at the company.
The previous NDP government announced in 2010 it had taken a 49 per cent equity stake in the firm, committed $60 million to the manufacturing plant and predicted 500 jobs would be created within three years.
The investment was part of a $90-million refit of the former TrentonWorks railcar plant after it was bought by Korean-owned Daewoo Shipbuilding and Marine Engineering.
The plan was for DSME Trenton to eventually develop the capacity to produce 250 wind turbine towers and 200 blade sets per year.