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PLANT

NS not clear on future of manufacturing plant despite ownership stake

Daewoo Shipbuilding and Marine Engineering Ltd. is seeking new contracts or a buyer for the plant in Trenton.


October 2, 2015
by The Canadian Press

HALIFAX — Nova Scotia’s premier says the fate of a metal fabrication plant is not clear to him even though the province has a 49% ownership stake in the facility.

Stephen McNeil says he was aware that Korean-owned Daewoo Shipbuilding and Marine Engineering Ltd. was seeking new contracts or a buyer for the plant in Trenton.

But he says the government hasn’t heard anything further on that.

McNeil was responding to a report that the company was unloading inventory as it prepares to shut down the plant that employs up to 100 people.

Business Minister Mark Furey says there are protections in place for ensuring equipment at the plant isn’t removed without some compensation going to the province if it closes.

Furey says the Nova Scotia government has so-called first security in its business arrangement with DSME Trenton, adding that he is not aware of plans to shutter the operation.

A representative from DSME Trenton did not respond to a request for comment.

© 2015 The Canadian Press

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