Barrie-based Canplas Industries launches multimillion-dollar expansion
Canplas, plus two Barrie, Ont.-based tooling suppliers, are receiving funding from the Ontario provincial government.
A plastics parts maker and two automotive suppliers, all based in Barrie, Ont., are beefing up their operations with the help of the provincial government.
Canplas Industries Ltd., Beta Tech Inc., and Theta TTS Inc. have received a combined total of $2 million to support expansion projects. The government funds will spur further investments of $23 million from the companies; the projects are also expected to translate to 94 new jobs in the Ontario city north of Toronto.
Canplas has committed nearly $7.1 million to increase its footprint in Barrie. The company is buying new equipment, adding 17,000 square feet to its shop, and developing new product lines with the capital funds. The company expects to create 30 new jobs by the time the project is complete in 2020. Canplas was founded in 1966 as a manufacturer of ABS and PVC pipe fittings for the plumbing industry. Today, the company makes plumbing, ventilation, central vacuum and grease separation products for residential and commercial buildings.
The largest of the three investment projects will take place at Beta Tech Inc., which plans to spend approximately $12.4 million to add 22,500 square feet of floorspace at its manufacturing plant. The maker of automotive tooling and stamped parts will also buy new production equipment and technology. Work on the project will wrap up by next June and create 45 new jobs.
Finally, automotive tooling maker Theta TTS will purchase a new fine blanking press along with the necessary auxiliary equipment as part of an approximately $5.5 million scale-up effort. The expansion will create 19 new jobs and is scheduled to be completed by June 2021.