Korea's DSME Opens its North American Plant in Nova Scotia, Canada

HALIFAX, Nova Scotia, June 14, 2011 /PRNewswire/ -- Korea-based Daewoo Shipbuilding & Marine Engineering (DSME) and the Premier of Nova Scotia, Canada, celebrated the grand opening of DSME Trenton Ltd. (DSTN) today, June 14, 2011.

"We are very pleased with the results of our expansion into the North American market, and our strong partnership with the province," said DSTN CEO Nam-Ki Lee. "The progress we see here today underlines that we are well on our way to creating a renewable energy cluster in Nova Scotia."

Nova Scotia Premier Darrell Dexter and Mr. Nam officially started the company's production line at the Trenton, Nova Scotia, facility.

DSTN's more than 100 workers are currently fulfilling orders for 30 towers.

"Congratulations to everyone who has played a part in creating a world class manufacturing facility in DSTN," said Premier Dexter. "This investment is already creating the good jobs the province needs while showcasing Nova Scotia as a leader in renewable energy."

The province secured a 49 per cent stake in the operation through investments made in 2010 to establish DSTN as a joint venture between the province and DSME. An additional $10 million was invested by the Government of Canada.

DSME is a diversified company and one of the world's largest ship builders. The South Korean-based company was established in 1973 and today is a first-class builder of commercial and naval ships and offshore projects. In 2009, DSME acquired DeWind Inc., an American wind turbine engineering company, and announced plans to expand into the wind-power sector and build a production plant in North America. South Korea-based Daewoo is publicly listed on the Korean Stock Exchange.

To explore opportunities, visit: www.novascotiabusiness.com

For further information:

Brad Murray
DSME Trenton Ltd.
902-753-7705
E-mail: [email protected]

Melissa MacKinnon
Premier's Office
902-424-6600
E-mail: [email protected]

Sarah Levy,
Nova Scotia Business Inc.
1.902.222.3658
[email protected]

SOURCE Nova Scotia Business Inc.