NS: Stark Oil set for expansion with federal loan

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By Staff, The Daily Business Buzz

Over the years, the New Glasgow-based company has become a significant player in the Canadian industrial transformer installation and service market.

[BAILEY BROOK, NS] — On Sunday, Peter MacKay, Minister of National Defence, announced a business loan for Stark Oil on behalf of Bernard Valcourt, Minister of State for the Atlantic Canada Opportunities Agency and La Francophonie.

"Our federal government is pleased to support this latest phase of Stark Oil’s growth, which I believe enable a locally-based company meet its potential," said Minister MacKay. "For nearly 20 years, Stark Oil has been providing a value-added service to clients throughout Canada and the United States. Stark Oil’s skill, innovative approach and determination has allowed them to become a significant player in the Canadian industrial transformer installation and service market."

The Atlantic Canada Opportunities Agency’s repayable contribution of $500,000 will allow the company to construct a 5,000 square foot facility adjacent to their existing facility in Merigomish, as well as build two transformer maintenance trailers for mobile fluid rejuvenation. The new structure and the mobile trailers will support the company in expanding beyond the borders of their current client markets and increasing the volume of work they perform for clients in Central and South America.
 

Organizations: Atlantic Canada Opportunities Agency, National Defence, La Francophonie

Geographic location: Canada, United States, Merigomish Central and South America

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