A P.E.I. company is getting more than $620,000 in government money to help it expand in the aerospace industry.
Tronosjet, a wholly-owned subsidiary of Tronos Ltd. based in London, England, will receive a repayable contribution of $472,250 from the Atlantic Canada Opportunities Agency to establish its facility at the Charlottetown Airport Industrial Park, ACOA said in a news release.
The provincial government is supporting the company's expansion with non-repayable rental, IT and labour supports worth $151,000.
Opened on P.E.I. in 2003
Tronosjetestablished operations in Slemon Park in 2003 to perform deep maintenance checks and overhaul on a fleet of BAe 146 aircraft.
Soon after launching in P.E.I., the company explored a new project to convert BAe146 aircraft into airtankers for use in fighting forest fires. The company is once again diversifying its business options with its new Charlottetown facility to manufacture aerospace parts and components.
P.E.I. a 'leader in aerospace'
Heath MacDonald, Minister of Economic Development and Tourism, said Tronosjet's expansion into Charlottetown will help it "stay ahead of the curve" on industry trends.
"Its success lends further credibility to our province's growing reputation as a leader in aerospace and is a great example of why Prince Edward Island is a mighty Island."
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