GOVERNOR BALDACCI WELCOMES VINGTECH TO MAINE

The following information was released by the Maine Governor:

Governor John E. Baldacci, representatives of the state Department of Economic and Community Development and the city of Biddeford today welcomed a new European high-tech manufacturing company to Maine and thanked company officials for choosing Biddeford as the site of its new U.S. facility.

VingTech, a subsidiary company of Norwegian-based Simrad Optronics ASA that manufactures sophisticated electro-optics and other systems for the defense and law enforcement industries, chose to locate in Biddeford over three other New England sites, a move that will create up to 40 new, quality jobs in the first two years of production. Biddeford is VingTech's first manufacturing presence in the United States.

"Maine is competing for and attracting companies from all over the world with its quality of life, dedicated work force and Pine Tree Zone incentives," said Governor Baldacci. "I welcome VingTech to Maine and I look forward to the positive presence the high-tech manufacturing company will have on the community and the state."

Governor Baldacci added that VingTech's decision to establish itself in Maine was aided by a collaborative, supportive effort by the state, the Department of Economic and Community Development (DECD) and Biddeford city officials.

VingTech's Biddeford facility is located at 15 Morin St. Chief Executive Officer of Simrad Optronics Jon Asbjorn Bo said the existing building will be retro-fitted to VingTech's production requirements and represent a more than $3 million investment in the state and the community. Construction will begin in April with production beginning in September 2007. VingTech has applied for Pine Tree Zone certification.

Asbjorn Bo said the decision to establish a VingTech manufacturing facility in Maine was an easy one after visiting the state and meeting with the Governor, the DECD and Biddeford's municipal officials.

"We are happy to expand our business into Maine and to be able to utilize the state's skilled and dedicated work force," said Asbjorn Bo. "We conducted an extensive search throughout New England and Maine offered all of the right reasons to come here with local and state and federal support, Pine Tree Zone benefits, the work ethic of the residents and the quality of life. It was a perfect fit."

Governor Baldacci noted that VingTech will be making a $3 million investment in its facility in Biddeford, while Maine is looking to invest in its future and its people as well.

"Yesterday, I released my proposed bond package, with a $397 million investment strategy, focused on our innovation economy, clean air and clean water, education, roads and bridges, and in private-sector job creation," Governor Baldacci said. "My three year bond package invests money today to spur economic growth in our state and bring us to a prosperous future by creating good-paying, private-sector jobs."

The Governor's bond package proposed $131 million in bonds for transportation; $131 million in the innovation economy for job growth and business development; $97 million in quality places; and $33 million in the universities and community colleges.

"I am pleased that the Pine Tree Zone program, now in its third year and helping 109 businesses create more than 4,100 jobs, was a major factor in VingTech's decision," said Governor Baldacci.

VingTech is the U.S. subsidiary of Simrad Optronics, based in Norway. For more information about VingTech, visit www.simrad-optronics.com.