Aalbers Tool & Mold invests and grows

Oldcastle, Ont.-based moldmaker Aalbers Tool & Mold Inc. has partnered with the government of Ontario in a bid to grow its business and create 33 new jobs.

With almost $1 million in support from the Southwestern Ontario Development Fund, the company is investing in new state-of-the-art machinery and employee training that will enhance productivity and competitiveness. Aalbers designs and manufactures precision components for the automotive and consumer goods industries. The project will help the company pursue new opportunities in Ontario’s growing aerospace sector.

Aalbers currently employs about 106 workers.

“The investment we’re announcing builds on our more than 30 years in business at Aalbers,” said CEO Gary Aalbers. “This new equipment and the resultant technical training further enhances our employees’ technical capabilities and competitiveness, coupled with offering reduced lead times and advanced flexibility to our customers. Along with that, is the opportunity to further strengthen and enhance our workforce, as the new equipment will not only offer a wider range of opportunities for Aalbers, but also open new and exciting opportunities to develop our business with new industry sectors.”

Modeled on the Eastern Ontario Development Fund, the Southwestern Ontario Development Fund is designed to help to create jobs and diversify the economy by encouraging regional businesses to pursue innovation and new markets. Together, these two funds have created and retained more than 29,000 jobs and attracted more than $1.25 billion in investment, the government said.