First Nation buys two N.S. shipyards, becoming defence contractor

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First Nation buys two N.S. shipyards, becoming defence contractor
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With the purchase of a majority stake in two South Shore shipyards, a small Nova Scotia First Nation has set its sights on becoming Canada’s largest Indigenous defence contractor.

“But we’re looking to go after opportunities … The profits are not going to Toronto, New York or outside the province. They are staying here in Nova Scotia, particularly the Annapolis Valley in our case.” The key, he said, has been creating a community of skilled trades through a work environment that makes them want to work there.

Glooscap Ventures, meanwhile, was looking for investment opportunities to bring it into the marine sector.

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