KITCHENER, ON, Jan. 14 /CNW/ - New Hamburg's Lakehead Manufacturing Inc.
has received a Michelin Development in the Greater Waterloo Region loan for
$78,700.00 to be used for expansion and the addition of new product lines that
will create 34 new jobs.
"Lakehead Manufacturing is a great example of an established business
that continues to grow and create new jobs for Waterloo residents," said John
Tully, director of Michelin Development (Canada) Inc. in the Greater Waterloo
Region. "This boost to the local economy is exactly the type of growth that
Michelin Development is designed to encourage."
Lakehead Manufacturing builds upright air filters for the outdoor power
equipment market. They are expanding to add new lines of panel filters, radial
seal filters and recyclable/reusable air filters using new manufacturing
"We were ready to expand and we needed a partner who could understand our
business and help us take the next step," said Terry Rath, president, Lakehead
Manufacturing Inc. "Michelin Development in the Greater Waterloo Region was
able to provide the loan we need and provide us with manufacturing expertise."
Michelin Development focuses on new job creation by providing
low-interest loans to qualified start-up, small- and medium-sized businesses.
In addition to this financial support, Michelin Development supports the
development of new and existing businesses by providing access to Michelin's
considerable in-house business expertise.
Information and applications for interested entrepreneurs are available
Dedicated to the improvement of sustainable mobility, Michelin designs,
manufactures and sells tires for every type of vehicle, including airplanes,
automobiles, bicycles, earthmovers, farm equipment, heavy-duty trucks,
motorcycles and the space shuttle. The company also publishes travel guides,
hotel and restaurant guides, maps and road atlases. Headquartered in Laval,
Quebec, Michelin North America (Canada) Inc. (www.michelin.ca) employs
approximately 3,700 employees and operates three plants.
For further information:
For further information: visit www.michelinmedia.com or contact Karen
Gordon, cell: (416) 997-9478