techno - same thing said differently......
gov.sk.ca
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Mar 30, 1999
Saskatchewan Opportunities Corporation 99 - 237
SOCO INVESTMENT ATTRACTS BC FIRM TO SASKATCHEWAN
Economic and Co-operative Development Minister Janice MacKinnon, also
minister responsible for the Saskatchewan Opportunities Corporation
(SOCO), today announced that SOCO has advanced the first $1 million of
a $2 million investment in Unitec International Controls Corporation
of Burnaby.
The SOCO financing, which will be a combination of loan and debenture
financing, will be used to assist Unitec in establishing an oil and
gas technology division in the province. Unitec hopes to have a
production facility set up in Regina in the next few months. SOCO's
investment in Unitec is expected to create 15 jobs initially and
another 15 jobs by year end.
"The fact that in the last few years Regina and Saskatoon have become
recognized as the best places in western North America to do business
is starting to bear fruit," MacKinnon said. "We are indeed pleased to
see that companies have found Saskatchewan to be a good fit for their
businesses. Businesses such as Unitec that serve primarily an export
market also help to add value to our economy.
"This kind of project means jobs for highly-skilled Saskatchewan
technicians, which we are starting to see more of in the
knowledge-based economy. This investment is consistent with SOCO's
objective of investing in companies that will strengthen and diversify
our economy and create jobs for Saskatchewan people."
Unitec specializes in producing and assembling advanced
environmental monitoring equipment for the water, electrical,
transportation and oil and gas sectors. The company distributes
its products and services through an expanding network of
independent agencies in North and South America, the Caribbean,
Middle East and Southeast Asia. Most recently it has won a
contract to supply a system in Saudi Arabia. The company
currently has a backlog of contracts in hand and work in progress
of approximately $9 million. More than 70 per cent of the
company's business is derived from export contracts outside of
Canada and 100 per cent of its business comes from outside the
province.
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For more information, contact:
Irene Rau, Director John B.Smyth, President and CEO
Corporate Affairs Unitec International Controls Corp.
SOCO Phone: (604)420-8025
Phone: (306)787-8576 |
