Province assists in expansion of MacDougall Steel Erectors
Company has grown from 2 to almost 100 employees in past 19 years
The government of P.E.I. has stepped up to assist MacDougall Steel Erectors in the renovation of its new production facility in the old McCain french fry plant in Borden-Carleton.
MSE purchased the plant in January, and in May received $1 million from a transition fund set up by McCain.
Under the new financing deal with the province, the company will receive a $3.5 million loan towards what is expected to be a $7 million renovation. The province will also provide up to $880,000 in labour rebates for a projected 126 new jobs at the plant.
"This is an exciting day for our company, and a big step toward our ambitious plans for expansion and increased production," CEO Ron MacDougall said in a news release.
'Expand into new markets'
"We are confident that the renovation of our new facility will allow our company to expand into new markets, serve more customers and ultimately lead to the growth of our workforce and our exports."
MSE was established in 1998 with two full-time employees and has grown to nearly 100. The company currently fabricates structural steel, but is looking to expand into internal parts manufacturing, pipe spooling, plate work, stainless steel and miscellaneous metals fabrication.
MSE was previously approved for a provincial loan of more than $5 million in 2014.
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