Canada-based Newco receives $1M funding to expand

Newco Metal and Auto Recycling Ltd., headquartered in St. John’s, Newfoundland and Labrador, has announced that it is expanding its capacity to process cleaner, higher value metals at its facility in Foxtrap, Newfoundland and Labrador. The Atlantic Canada Opportunities Agency, Moncton, New Brunswick, has awarded a $1 million repayable contribution toward this project. Newco also is investing $1 million of its own money on improvements.

According to a news release from the Atlantic Canada Opportunities Agency, Newco plans to increase efficiency at its Foxtrap facility by adding office space and a new computer system that will integrate all of its locations and provide real-time data. Improvements also will be made to its processing deck to mitigate the environmental impacts of operations. The expansion will enable the company to better meet the growing global demand for its products.

Additionally, Newco will create 10 new jobs and maintain 25 jobs in Foxtrap as a result of this investment in the site.

“We thank [the Atlantic Canada Opportunities Agency] and the government of Canada for their investment in Newco Metal & Auto Recycling Ltd.,” says Bob Anstey, president of Newco. “The increased efficiency at the shredder facility through the new office space and a new updated computer system is a vital next step in the company’s overall operation. The shredder processing deck, which has been constructed to ensure site control, will be expanded to mitigate environmental impacts of operations. 

“Through this investment, the company will be in a position to better meet the growing global demand for its products while still reducing carbon associated with the traditional operation,” he continues. “This facility processes recyclable scrap metal from the entire province. We are putting jobs, industry, and prosperity here, with a 100 percent locally owned and operated company.”

Newco opened in 1985 and currently employs more than 100 people at 10 locations across Newfoundland and Labrador.