Ontario manufacturers invest $25 million in new tech, province adds $2.4 million
Two of the firms, Synergy Mouldworks and Elastochem Speciality Chemicals, are involved in the plastics sector.
The Ontario provincial government is providing nearly $2.4 million to supplement an additional $25 million being invested by local manufacturers – including plastics-related firms – in Brantford, Ont. for new equipment and expansion.
The province’s funding will help create 38 new jobs and retain 95 jobs in the area.
Synergy Mouldworks, a manufacturer of custom injection molds for markets including automotive, medical, pharmaceutical and consumer goods, is investing $3.5 million to expand its facility by 9,000 square feet, purchase new equipment and increase capacity in research and development. With $500,000 from the Southwestern Ontario Development Fund, the company is creating five new jobs and retaining 14. With Ontario’s support, the firm will optimize production efficiencies and innovation to enter into new markets.
Elastochem Speciality Chemicals, which specializes in polyurethane products for the construction industry, is investing over $10 million with $500,000 from the Southwestern Ontario Development Fund to expand its product offerings, which are currently focused on sprayed polyurethane foam, to include low/non-combustible and energy-efficient insulation board. This new product would address two key issues facing architects and building designers: achieving a highly efficient thermal wall enclosure while reducing or eliminating fire risk. The company is creating 10 new jobs and retaining 25 with this investment. “Elastochem is excited for its future here in Ontario. The investment from the South Western Ontario Development Fund helped finalize our decision to expand our current site in Brantford,” said Sam DiLoreto, Elastochem president. “The 50,000 square-foot expansion will allow us to implement newly developed resin manufacturing technology to meet the needs of the construction market for years to come.”
The other Brantford-area firms receiving funding are bakery Grissin Bon and wood products maker Rembos.