© Photo special to The Guardian
Charlottetown Metal Products President Steve Kelley, left, discusses the company's planned expansion with Innovation Minister Allen Roach during a news conference at the Winsloe plant on Tuesday.
A Prince Edward Island company with 50 years of experience as a leader in the design, manufacture, and installation of custom stainless steel equipment is expanding once again.
Charlottetown Metal Products, known as CMP, is expanding its facilities and adding to its workforce.
The capital and renovation costs for the planned expansion of CMP are expected to cost $1.2 million – with a further increase of more than $3 million in salaries paid to new staff.
Innovation P.E.I. supported the recent expansion of Charlottetown Metal Products with $10,000 for welding equipment, $16,000 for IT improvements and up to $357,000 in labour rebates if the company meets projections for new hiring in 2013 and 2014. Finance P.E.I. has supported the project with a $649,000 loan.
Steve Kelley says CMP has tripled in size in the last five years.
“With over 80 per cent of our sales being exports, we are proud to be an Island company taking our products to the world,” said Kelley. “To continue growing, we need additional plant space, equipment, designers, engineers and skilled craftsmen. With the help of Innovation P.E.I. we are laying the foundation to triple in size again in the next five years.”
Charlottetown Metal Products manufactures equipment for the seafood and food processing industries.
CMP recently acquired a neighbouring commercial property, adding nearly 12,000 square feet to its business space, and is planning to hire 40 people over the next five years, increasing staffing from its current level of 80 full-time workers.
Innovation Minister Allen Roach says not only is Charlottetown Metal Products a reliable provider of stainless steel equipment, this company has the flexibility to design and deliver material for a wide range of customer needs.
“With quality products and a determination to meet customer needs, CMP is demonstrating that Island companies can compete and succeed in world markets.”