Government of Canada investment will support 160 SMEs and 945 jobs in manufacturing sector and electric vehicle supply chain
WOODBRIDGE, ON, March 1, 2023 /CNW/ - Ontario's manufacturing organizations are significant contributors to Canada's economy and employ thousands of workers. The manufacturing industry has amazing potential for modernization and growth. With support, they can carve out a larger piece of the global market to make sure Canadian products are being used around the world. The Government of Canada is committed to supporting our manufacturers as they evolve to adopt greener processes and technologies, increase their production capabilities and create good jobs for Canadians.
Today, the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), joined by Francesco Sorbara, Member of Parliament for Vaughan–Woodbridge, announced nearly $16 million in support to strengthen southern Ontario's manufacturing sector as it transitions to a net-zero clean economy.
This includes an $8.8-million non-repayable contribution for Canadian Manufacturers & Exporters (CME) to launch the Technology Investment Program (TIP). This investment will help participating Ontario manufacturers automate production, reduce their environmental footprint and increase competitiveness in the global market. Small- and medium-sized enterprises (SMEs) will also have access to equipment and advisory services to grow and compete on the global market while fast-tracking product development. This project will support 160 SMEs and create and maintain 870 jobs.
Marwood International Inc. is receiving a $5 million repayable contribution to transition its facilities to manufacture complex and high-quality structural EV parts like body structure and battery support components. Marwood has become a leader within the Canadian automotive supply chain, being one of very few hot stamping and composite providers (the processes used in automotive manufacturing to produce high-strength structural parts from thin sheet metal and composite fibre) in Canada. Their eco-friendly parts are also helping original manufacturers in the supply chain reduce their impact on the environment. With this investment, Marwood expects to double its EV parts production, reduce lead times, meet industry demands and create 60 jobs in Ingersoll.
Remmen Brakes is receiving a $2.1 million repayable contribution to accelerate the testing and commercialization of its first-in-market EV Nonlinear Electro-Mechanical Brake (NEMB) system. Unlike current braking systems, which rely on fluids, NEMB uses digital technology to activate braking and is projected to eliminate up to 20 million litres of corrosive brake fluid used per year in North America and reduce carbon emissions by 4.2 million tons. With this support, the company will attract and secure new contracts with OEMs, and create 15 jobs in Port Perry.
Today's investments are supporting a stronger more resilient manufacturing sector that will help contribute to a greener future for Canadians.
"Ontario's manufacturing industry is the engine that drives our national economy and our government is investing in the people that make it run. By making smart investments across supply chains, we will work together to grow local economies, create good paying jobs for our communities, and ensure a healthy environment for generations."
- The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario
"Today's investment is supporting our local manufacturers as they work hard to increase production and commercialization while adopting green technologies and creating 945 good jobs across southern Ontario. The Government of Canada is committed to helping position our thriving manufacturing sector for a successful future as they grow and expand their processes."
- Francesco Sorbara, Member of Parliament for Vaughan–Woodbridge
"CME couldn't be prouder to work with FedDev Ontario to launch our Technology Investment Program. To help Ontario manufacturers succeed at home and internationally, this program aims to support economic growth by giving manufacturers the support they need to invest in technology to automate production and reduce their environmental footprint. The adoption of advanced manufacturing technology will also help companies attract new talent on their path to rewarding careers in manufacturing."
- Dennis Darby, President & CEO, CME
"Thanks to the ongoing support of FedDev Ontario we are able to continue to invest in industry leading technologies and continue to grow in this highly competitive industry. We must continue to invest in technologies that improve efficiency and expand capabilities in order to maintain our competitiveness in a challenging environment."
- Chris Wood, President, Marwood International Inc.
"FedDev Ontario's investment is helping us to achieve our vision for this company, which is to create and refine a revolutionary braking technology designed to make vehicles of the future more safe, efficient and reliable. We envision growing and scaling the technology while maintaining the company's Canadian roots. We will focus on, and refine, our technology while protecting our IP and building everlasting relationships with our global and domestic partners."
- Ibrahim Al-Khudairy, Director of business development, Remmen Brakes
Website: www.FedDevOntario.gc.ca
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SOURCE Federal Economic Development Agency for Southern Ontario
Contacts: Edward Hutchinson, Press Secretary, Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario, [email protected]; Media Relations: FedDev Ontario, [email protected]
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