Ontario injection molder gets $3 million in provincial funding

A plastics manufacturer in Mississauga has received funding from the Ontario provincial government to develop new, innovative technology that will make it more competitive and create 27 new jobs and support 26 existing positions.

The province is providing Concept Plastics Limited, a maker of food and plant packaging and containers, and Canada’s only car mat manufacturer, with a loan of $3.07 million to help the business install new equipment. According to Concept Plastics, the equipment will enable it to use PVC powder in the injection molding process, increasing production while reducing material costs by as much as 40 per cent. 

“Ontario’s investment will help Concept Plastics become highly competitive and gain a significant share of a market that supplies auto markets,” said company president Kiran Kulkarni. “We expect sales to more than double over the next five years, bringing good jobs to Mississauga.”

Concept Plastics Ltd is part of group of companies that has been in business since 1977. The group has approximately 800 employees and offices in North America, Europe and Asia.

The funding is part of a larger initiative that has provided almost $30 million in grants to Mississauga companies to help them create and retain jobs and become more competitive. Other recipients include aerospace company Cyclone Manufacturing ($7.7 million), battery system supplier Electrovaya ($16.7 million), and aircraft landing gear maker 2Source Manufacturing Inc.($5.13 million).