January 9, 2020 - St. John's, NL - Atlantic Canada Opportunities Agency
Newco Metal and Auto Recycling Limited operates a metal recycling business that processes scrapped vehicles, appliances and other metal waste in ten municipalilties in Newfoundland and Labrador. Today, the company announced that it is expanding its capacity to process cleaner, higher value metals at its Foxtrap, Newfoundland and Labrador operation.
Newco will increase efficiency at its Foxtrap facility by adding office space and a new computer system that will integrate all locations and provide real-time data. Improvements will also be made to its processing deck to mitigate environmental impacts of operations. The expansion will also enable the company to better meet the growing global demand for its products.
With the help of the Government of Canada, the company will create ten new jobs and maintain 25 jobs in Foxtrap, as it helps to grow and diversify the local economy.
The Honourable Mélanie Joly, Minister of Economic Development and Official Languages, joined by the leadership team and staff at Newco as well as Member of Parliament for Avalon Ken McDonald, announced today that the Government of Canada, through the Atlantic Canada Opportunities Agency (ACOA), is providing a $1 million repayable contribution towards the project. Newco Metal and Auto Recycling is also investing $1 million in the expansion.
Support for this project is one way the Government of Canada can help businesses scale-up, increase productivity and participate in the global economy.
When Atlantic Canadian businesses scale-up their operations, they become more productive, are better positioned to access new opportunities in world markets, create more jobs, and help grow the economy faster.
Quotes
"We will always have the back of companies like Newco, that are working hard to grow local economies, create good jobs for our families and reduce our green house gas emissions. We are working for Canadian workers and entrepreneurs."
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for ACOA
"It's great to see Newco Metal and Auto Recycling expanding its business operation here in our community and creating new, green middle class jobs. Our government is pleased to support this initiative, which will not only be a driver in our local economy, but also shows what our government has always known; the economy and the environment go hand-in-hand."
- Ken McDonald, Member of Parliament for Avalon
"We thank ACOA and the Government of Canada for their investment in Newco Metal & Auto Recycling Ltd. The increased efficiency at the shredder facility through the new office space and a new updated computer system is a vital next step in the company's overall operation. The shredder processing deck, which has been constructed to ensure site control, will be expanded to mitigate environmental impacts of operations. Through this investment the company will be in a position to better meet the growing global demand for its products while still reducing carbon associated with the traditional operation. This facility processes recyclable scrap metal from the entire province. We are putting jobs, industry, and prosperity here, with a 100% locally owned and operated company."
- Robert Anstey, president, Newco Metal and Auto Recycling Limited
Quick facts
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Newco Metal and Auto Recycling Limited opened in 1985 and currently employs more than 100 people at its operations in St. John's, Foxtrap, Argentia, Marystown, Bishop's Falls, Grand Falls-Windsor, Deer Lake, Corner Brook, Stephenville and Happy Valley-Goose Bay.
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The Government of Canada is investing $1 million in this project through ACOA's Regional Economic Growth through Innovation (REGI) program. Newco Metal and Auto Recycling Limited is also investing $1 million in this project.
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The Business Scale-up and Productivity stream of the REGI program supports businesses at various stages of development, including high-growth firms, to accelerate their growth, help them scale-up and improve their productivity and competitiveness in both domestic and global markets.
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The REGI program continues to build on the objectives of the Government of Canada's Innovation and Skills Plan.
Contacts
Jeremy Ghio
Director of Communications
Cabinet of the Minister of Economic Development and Official Languages
