Government of Canada Supports Innovative Research and Development in New Brunswick

TRACYVILLE, NEW BRUNSWICK--(Marketwire - Aug. 13, 2009) - The Honourable Keith Ashfield, Minister of State (Atlantic Canada Opportunities Agency), on behalf of the Honourable Gary Goodyear, Minister of State (Science and Technology), today announced a contribution to Marwood Ltd. from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP). The funding supports an innovative research and development project that will assist Marwood in improving the longevity of wood paint coatings. "Our government is committed to developing a competitive advantage for the Canadian private sector and to building a more innovative, more productive and more competitive economy in Atlantic Canada," said Minister Ashfield. "The Government of Canada is investing in science and technology to create jobs and improve Canadians' quality of life." This $500,000 contribution will support the New Brunswick-based company, through one of its operating divisions, Cape Cod Finished Wood Siding Inc., in researching, developing, and commercializing superior paint coatings to provide increased long-term performance to wood siding. "Investing in science and technology is critical for developing highly skilled people and improving the long-term competitiveness of Canadian firms," said NRC President Dr. Pierre Coulombe. "That's why NRC-IRAP is helping innovative Canadian businesses such as Marwood grow stronger, faster and bigger." Marwood Ltd. manufactures advanced wood products for industrial and residential applications. These include utility poles, heavy construction timber, dimension lumber, lattice, fence, deck accessories, shed kits, wood fuel pellets, and pelletized animal bedding. Marwood also manufactures preserved wood and machine painted products, including prefinished painted wood siding. "With the help of NRC-IRAP, we will be able to provide our customers with increased longevity of the paint coatings on Cape Cod Finished Wood siding," explained K. Ross Creelman, Managing Director of Marwood. About NRC and NRC-IRAP The NRC Industrial Research Assistance Program (NRC-IRAP) provides a range of both technical and business-oriented advisory services along with necessary financial support to qualified innovative Canadian small- and medium-sized enterprises. The program is delivered by a field staff of 240 professionals in more than 100 communities across Canada. NRC-IRAP is committed to working with small- and medium-sized enterprises while they realize their full potential, turning knowledge and innovation into strategic opportunities, jobs and prosperity for all Canadians. The Government of Canada's Economic Action Plan has provided new resources of $200 million over the next two years to bolster NRC-IRAP support for innovative Canadian firms. To learn more about Canada's Economic Action Plan, visit www.actionplan.gc.ca. For more information (media only), please visit NRC-IRAP's Web site http://www.nrc-cnrc.gc.ca/eng/ibp/irap.html