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

HALIFAX, 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

SOURCE Nova Scotia Business Inc.