Canada’s Woodbridge Foam investing $100 million on upgrades, research centre in Ontario
The investment, which includes $20 million from the federal government, will help create and maintain more than 800 jobs and establish a new Centre of Excellence.
Automotive foam technology supplier Woodbridge Foam Corp. is investing up to $100 million to modernize two manufacturing sites in Ontario.
In a July 9 statement, Mississauga, Ont.-based Woodbridge said the Canadian government will contribute up to $20 million to the project through its Strategic Innovation Fund (SIF), which supports business investments in Canada’s business and manufacturing sectors.
The modernization of the two plants in the Ontario towns of Woodbridge and Blenheim will also create an estimated 110 jobs and maintain over 700 additional jobs, the company said.
Woodbridge will also establish a Centre of Excellence in Woodbridge, Ont. where it will invest and centralize its global research into advanced materials and product design of molded foam products, such as car seats and armrests. “This will allow for more intellectual property to be developed and retained in Canada and expand the company’s collaboration with high schools and post-secondary institutions,” the statement said.
“With the support of the Canadian government, this significant investment will result in world-class manufacturing capabilities and accelerating innovation in our technology advantage,” Charles Daly, Woodbridge’s president and CEO, said in the statement. “We view this as an investment in our global competitiveness, supporting our purpose to create and sustain rewarding jobs, as we prepare for the future of the global automotive industry.”
Founded in 1978, Woodbridge operates more than 60 facilities around the world. The company specializes in manufacturing foam polymers and molding for the automotive industry.