Steel fabricator gets $15M loan
A Dartmouth, N.S., steel fabrication yard is planning a major expansion that could add more than 120 workers to its payroll.
Premier Darrell Dexter announced Thursday that Cherubini Metal Works Ltd. would receive a $15.1-million loan from Nova Scotia Business Inc.
"What we're doing is giving them a fully secured, interest-bearing loan with which they're going to be able to increase their capacity, their competitiveness, hire more people at very good wage levels and contribute to the economy," said Dexter.
"This is what economic development is really all about."
Cherubini Metal Works said it plans to add $4 million to the project to expand its existing Woodside facility and to build a new operation nearby.
"The Woodside facility is now at capacity for the next 10 to 12 months," said Stephen Ross, the general manager of Cherubini Metal Works.
"Quite simply, we can't take on any more work. The limits of capacity is a barrier to growth."
The company currently employs 151 people and the Nova Scotia government said with the expansion, employment could grow to as many as 274 people.
"This is a company that started, literally, doing railings and very small metal fabrication work and has grown to the point now that they can compete globally for work," said Dexter.
"They are now not currently able to accommodate [that] because of the restrictions in their capacity."
Cherubini Metal Works said the expansion will allow it to increase the amount of civil structure fabrication it does, including tidal turbine pieces and large duct systems, as well as compete for projects like the Lower Churchill hydro megaproject.
"This gives us security," said Kendal Fralick, who works as a fitter for the company.
"We know that now we're going to be employed for a longer period of time, they're going to be able to get into bigger and better projects and things like that."
The company, which has been operating since 1967, specializes in making bridge work and large-project heavy civil structures with markets in the U.S., the Caribbean and other Canadian provinces.