GRAND BANK, N.L.—A Canadian company that makes inflatable, heavy-duty air shelters for the oil and gas industry, military and disaster relief efforts is getting approximately $2 million from the federal and provincial governments to expand its operations in Newfoundland.
Dynamic Air Shelters Ltd. will receive a $1.5 million loan from Ottawa’s Atlantic Canada Opportunities Agency, as well as $570,000 from the Newfoundland government. The company will use the funds to add 3,500 st. ft. of floor space to its manufacturing facility in Grand Bank, N.L.—southwest of St. John’s.
“Expanding the Hickman Street factory will help consolidate the Newfoundland operation in one area, reduce operating costs and improve employee interaction and engagement,” Kay Riggs, the company’s vice-president of operations, said in a statement.
Along with improving its operations, Riggs said the investment will allow Dynamic to begin renting its shelters in addition to selling them outright.
The company employs more than 50 people at the Newfoundland plant.
Watch Dynamic’s blast-resistant shelters absorb a nearby explosion: