Bruce Telecom Doubles Budget For ExpansionJune 4, 2015 6:21am
Bruce Telecom is doubling its capital spending this year.
Kincardine council approved a $3-million increase to Bruce Telecom’s 2015 capital budget, bringing the total for the year to $6-million.
President and CEO Bart Cameron says the additional funds will be drawn from cash reserves and paid back using incoming revenues.
He says the company is looking to upgrade its existing infrastructure, but will also look at expanding its service territory.
Bruce Telecom’s 2015 financial statements show a surplus of $420,000 through the end of April, about $6,000 shy of original budget estimates.
Bart Cameron says the budget request is not a reaction to Bruce Telecom being taken off the open market, but rather a result of finishing other capital projects ahead of schedule.
“This is part of the success of the last couple years of being able to accomplish a number of projects. We are ahead of plan on a number of things. This is really being able to advance things that were intended for future years,” says Cameron.