Energy News - Saint John Industrial Parks

Saint John Industrial Parks Ltd. (SJIPL) continues to benefit from strong demand for serviced and unserviced industrial land in our parks, and solid secondary market activity. All 2008 Capital projects have either been completed on schedule or are in design phase for start up this fall. Just as we suggested in our previous newsletters, 2008 activity has indeed been record breaking.

McAllister Industrial Park

The ink is drying on three serviced land sales agreements in the McAllister Park, and we expect to announce a fourth serviced sale this fall. This will bring total serviced land sales this year to 8 acres. Two of these developments will be the site of new buildings. The third development will accommodate the expansion of an existing building, while the fourth sale will result in expanded exterior storage and parking to accommodate the client's growth. Site work has begun on three of the four locations. SJIPL is in the final design phase of its planned cut-and-fill project, which will add much-needed inventory as well as maximize the density of serviced lands along McIlveen Drive Extension.

Spruce Lake Industrial Park

Completed on schedule and on budget this past June, the White Rocks Road (Phase 1) has created an additional 15 acres of serviced land. We thank our partners - Business New Brunswick, Terrain Group Inc., Debly Enterprises and the City of Saint John for their support. Meanwhile, Spruce Lake Industrial Park has experienced a significant level of sales activity over the summer. SJIPL has entered into an agreement for the sale of more than 70 acres of unserviced land, with an additional 35 acres expected to come under agreement in September 2008.

We're also pleased to welcome two new tenants who recently purchased existing properties in the Park. Lenron, a specialized transport company, has acquired the former Atlas Metals site, and Shawmut Equipment, which specializes in crane sales, rentals and servicing, has purchased the former Stor-It Systems site.

As we head into fall 2008, and look ahead to 2009, Saint John Industrial Parks Ltd. anticipates demand for land will remain strong. We continue to work to meet the market's needs and expectations in industrial development.

Visit: www.SaintJohnIndustrial.ca

Shawmut Equipment of Canada, Inc. builds its home in Spruce Lake Indutrial Park

The newest tenant of Spruce Lake Industrial Park is well equipped to serve major construction projects throughout the Maritime Provinces.

Shawmut Equipment of Canada, Inc., which opened in the Park this past July, is a distributor for the Manitowoc Crane Group, including Manitowoc crawler cranes, Grove mobile hydraulic cranes, National boom trucks and Potain self-erecting tower cranes. It chose the Park as the location for its Canadian headquarters, extending its distributor territory into New Brunswick, Nova Scotia and Prince Edward Island.

"Our target market is the construction industry, including crane rental companies, construction firms, government agencies and energy/ infrastructure projects" says Joe Vergoni, Vice President of Shawmut Equipment. "We offer sales, service and parts for all Manitowoc Crane Group cranes. For several years, we've been doing business with Canadian-based crane companies. This territory expansion allows us to enhance the way we serve our Canadian customers."

Spruce Lake proved to be the right location for the new headquarters based in part on ease of access, according to Vergoni. "Because the equipment we service is very large, we need a location that is easy to access. So the close proximity to the highway made Spruce Lake Industrial Park the ideal location for us."

Based in Manchester, CT, Shawmut Equipment was founded in 1957 by George O'Connell. David O'Connell, President, and George's son, currently runs the company. David's sons, Brian and Kevin, are the third generation to be involved in this family owned business, and Vergoni is David's nephew. The company also has a branch office in Norfolk, MA and currently represents the Manitowoc Crane Group in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont.

David O'Connell thanks the Manitowoc Crane Group for entering into the agreement that allows his company to distribute the equipment throughout the Maritimes. "We have been fortunate to establish relationships with crane rental firms in these provinces, and we look forward to earning the business of other crane users in the Maritimes."

Vergoni says there are three employees currently working for Shawmut Canada. They are: Eric Chambers, service technician, Saint John, NB; Michel Landry, service technician, Dartmouth, NS; and Dave Hawboldt, sales representative, Fall River, NS.

"Shawmut Equipment is currently establishing our sales and product support operations in Canada," says Vergoni. "We will have sales and service personnel in the provinces, as well as a facility with crane repair capabilities and spare parts in stock. Right now, we're looking to add a parts sales representative to our Saint John, NB facility."

For more information on Shawmut Equiptment, please contact Joe Vergoni at:

Shawmut Equipment of Canada, Inc.

327 King William Rd., Saint John, NB E2M 7C9

(888) 594-8444 Toll Free, (506) 635-1551 Fax

www.shawmutequipment.com