MARKHAM, Ont.—An Ontario manufacturer is poised to expand into the Middle East with half a million dollars in assistance from Export Development Canada.
Markham, Ont.’s Tower Solutions, which specializes in erecting temporary transmission towers for use in emergencies or for maintenance, will use the $500,000 in financing to help manage the costs of delivering on a new Saudi Arabian contract.
“Given how adaptable and uniquely engineered our product is, we see huge potential for expanding our global footprint,” Ciro Pasani, the company’s CEO, said. “As a SME, the challenge is getting the financing we need to take on new international contracts, and also finding the right partner that can help us penetrate new markets and find the right opportunities. EDC has been able to help us on both counts.”
In addition to providing the financing for Tower Solutions’ Middle East project, EDC said it was also able to connect the company with prospective buyers in India and Colombia that could help build out the small Ont. manufacturer’s global footprint.
A trade financier that helps Canadian companies grow internationally, EDC backing helps assure potential clients that small Canadian firms can finance and deliver on larger contracts.