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Charlottetown Metal Products (CMP) is finishing work on a $350,000 crab processing system that will soon be shipped to Shellfish De-La-Mer in CastleTownBere, in Southern Ireland.

Premier Pat Binns and Development and Technology Minister Mike Currie toured the Milton manufacturing plant last week to view the crab processing system that will soon be exported to the company in Ireland.

"By venturing into new export markets, companies increase their business potential for development and growth, and CMP is a shining example for other Island entrepreneurs that may be considering taking part in a future trade mission," said Premier Pat Binns. "If Island companies who have the potential to export their products or services don't physically go to these new markets, meet with the organizations and show them the quality that our Island companies can bring to the table, we miss the opportunity to achieve new levels of success with our business export potential."

Fueled by growth in the shellfish industry world wide, CMP is rapidly expanding its exports by developing niche markets for highly-specialized processing equipment. Approximately 40 per cent of CMP sales are now International.

"I am a firm believer in trade missions, whether it is Ireland and/or other countries around the world," said Wendell MacDonald, General Manager of CMP. "Trade missions have produced results for CMP, and the potential for future contracts looks positive. The trade mission to Ireland in October 2001 was a success strongly due to the fact that it was led by our Premier Pat Binns. When a trade mission is led by a delegate such as the Premier or a Minister, it adds credibility for the participants involved."

Charlottetown Metal Products employs 35-40 Islanders full time. The number of employees has increased by 10 since the company started exporting. When the Island manufacturer exports a processing system, a qualified crew goes to set up the system on site and ensures it is fully operational before returning to PEI.

"CMP is another example of an Island company that is creating excellent employment opportunities here at home by aggressively pursuing niche markets around the world," said Minister Currie.

Survey results from the 11 companies who traveled to Ireland from October 22 to 27, 2001 showed that revenues of over $12.5 million were expected within the following two years as a direct result of new business contacts made in Ireland. For the same time period, the participating companies also anticipated the creation of 26 jobs.

The value of provincial exports was estimated at $350 million dollars in 1996; today that number has risen close to $700 million annually. Today, PEI companies distribute products and services all over the world, including Japan, Latin America, Western Europe and North America.

For more information on trade missions, please contact the Trade & Export Division at PEI Business Development, (902) 368-4737.