December 14, 2017: Montreal, QC: Tommy Palliser, Chair of Nuvviti Development Corporation (Nuvviti)
provides a report on activities since the last update in October 2017.
Nuvviti has received an ‘Airline Synergies Report’ (the Report) from Air Inuit and First Air detailing how the two wholly owned subsidiaries will work more closely together. The Report responds to a request Nuvviti made to both airline boards of Directors in August, 2017 seeking detailed recommendations to maximize synergies between the airlines. “While Nunavik is well served by our two airlines, we are noticing an increase in smaller airlines entering the market. We need to ensure all our businesses are operating as efficiently as possible to face the competition. Making sure we maximize synergies between our two airlines is a great place to start” said Tommy Palliser, Chair of the Nuvviti Board of Directors.
Staffing is a top priority. Board member Duncan Dee is performing the additional role of Interim CEO, and Eitan Dehtiar is performing the role of Interim CFO, until both positions are filled on a permanent basis early in the new year. Nuvviti will also be posting advertisements to hire a lawyer and a bookkeeper this month.
Nuvviti appointed Board members on Tarquti Energy, a partnership between FCNQ and Makivik, are presently reviewing job applicants for a general manager, who will be hired in the new year. The general manager will look at the different renewable energy alternatives with the Directors and begin to contact and communicate with local authorities including the landholding corporations to see what interests and opportunities their communities have for renewable energy developments.
Kautaq Construction is progressing with a number of projects. The new church in Kuujjuaq is expected to be completed by spring of 2018. The new airport warehouses in Kuujjuaraapik and Salluit are expected to be delivered in February and March 2018.
We are working on our internal policies, creating a Code of Conduct, to identify and address any potential conflict of interest, to provide training to the new board members on board governance and our roles and responsibilities in relation to each other and to Makivik.
We have informed our subsidiaries of the Training Programs available at KRG, since this month is the deadline for 2018 applications. We also plan to promote the Summer School Program that KRG sponsors in April, among our subsidiaries, to promote hiring summer students in the region, and for our students to get more familiar with our subsidiaries and possibly assisting in developing their career paths.
Nuvviti will attend the Northern Lights Trade Show scheduled for the end of January in Ottawa. We will be promoting our subsidiaries and making business connections as well as scheduling meetings with the business development corporations of Nunavut, Nunatsiavut and other regions to promote our subsidiaries and to look for business opportunities, that could create more employment and other opportunities for Nunavimmiut.
We are planning to move into an office space after the renovations have been completed, not far from Makivik Office, sometime in March or April, 2018.
“Nuvviti Development Corporation is off to a great start. We have a strong and very capable team. We are focused on improved profitability within the Nuvviti family of companies as well as new business development. We are dedicated to increasing financial returns to Makivik so that it may achieve its objectives today and for the future” said Palliser.
Further information on the activities of Nuvviti Development Corporation will be available on the Nuvviti website launching in January 2018.
Nuvviti Development Corporation
Nuvviti is wholly owned by Makivik Corporation – the Land Claims Organization mandated to manage the
heritage funds of the Inuit of Nunavik provided for under the James Bay and Northern Québec
Agreement. Nuvviti was established in June 2017, to oversee Makivik’s wholly owned subsidiary
companies, partially owned subsidiary companies, and joint ventures. Nuvviti also has the mandate to
develop new partnerships, while respecting the goals and objectives of Makivik Corporation.