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N.S deal translates
into local office for U.S. firm
Chronicle Herald, July 15, 2004
By TOM PETERS / Business Reporter -- An American
company specializing in translations for life sciences businesses has
established its first Canadian office in Dartmouth.
Foreign Exchange Translations Inc. of Boston provides translation services
to medical-device manufacturers and pharmaceutical companies.
Christine Horning, the company's Nova Scotia site manager and publishing
specialist, said Wednesday the company was started in 1998 and has clients
all over the world. It can offer translation in 32 languages and has
access to 500 linguists on a freelance basis.
As an incentive to locate it here, Nova Scotia Business Inc. has agreed
to a three-year, payroll-rebate program with Foreign Exchange Translations.
The company will be eligible to receive up to $400,000 if it meets its
hiring obligations over three years.
The company says it plans to hire up to 60 people in the three years
to fill positions in sales, marketing, localized publishing, localized
engineering and telemarketing. Average annual salary is expected to
be about $34,000. The Dartmouth location on Morris Drive will provide
expertise in project management, graphic design and publishing materials.
Language experts will translate the materials.
The company is seen as an important addition to the infrastructure of
the province's growing life sciences sector.
"Complementing our successful companies, research capabilities and top-notch
educational institutions, Foreign Exchange Translations is an important
new service for life sciences enterprises that rely on international
markets," said Marli MacNeil, CEO of BioNova, the province's life sciences
industry association.
Ms. Horning, said the company, which had annual sales of $5 million
last year, doesn't try to compete with huge companies, which is one
reason it has decided to specialize in the medical field.
She said the company decided to locate in Nova Scotia because of the
excellent access to the New England market, a large labour pool, the
favourable cost of doing business here and government incentives. She
said the company has been doing business here successfully for the past
three years on a contract basis.
Stephen Lund, president and CEO of Nova Scotia Business Inc., said having
Foreign Exchange Translations in the province adds credibility to Nova
Scotia as a place to do business for other life sciences companies.
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