News Release

SHEDIAC (CNB) – The provincial government is helping Arsenault Cylinder Heads Ltd. buy new equipment and expand into a new building in the Scoudouc Industrial Park.

Business New Brunswick Minister Victor Boudreau made the announcement today. He was joined by Marc Arsenault, company president.

"This is a company with a strong management team and a unique service," said Boudreau. "The company cleans and repairs cylinder heads, which is a niche market and offers excellent opportunities for growth. Our government is pleased to support Mr. Arsenault through the NB Growth program as he strives to reach out into new markets and continue developing his business."

Arsenault Cylinder Heads Ltd., in addition to cleaning and repairing cylinder heads, focuses on complete engine rebuilds.

The provincial government has provided the company $60,000 through NB Growth. The firm will be erecting a 450-square-metre (5,000-sq.-ft.) building that will include a 90-square-metre (1,000-sq.-ft.) showroom. Arsenault Cylinder Heads Ltd. will also use the assistance to buy equipment, including a line hone machine, as well as hire two more employees.

"Our new location in the industrial park means we will be able to achieve more visibility for our shop," said Arsenault. "Currently, we service local car dealers and repair shops as well as users of industrial machinery, high-performance auto, and marine and farming equipment repair businesses. With the government's help, we will be able to expand to respond better to market demand as well as help drive traffic to the facility."

In June, Boudreau announced two significant changes to NB Growth to widen eligibility and encourage more companies to apply for funding. The provincial government approved the following changes:

●    the capital cost threshold for new start-ups was increased to $500,000 from $300,000;
●    the maximum annual sales limit for companies undertaking expansion, diversification or competitiveness projects was increased to $5 million from $2 million.

"We are proud that this broadened eligibility criteria will allow Business New Brunswick to be more responsive to a wider range of businesses," said Boudreau. "It is our commitment to provide companies with the support they need to start up or expand right here at home, and that includes programs such as this one, as well as our comprehensive lower-tax plan and strategic infrastructure investments."