Polymer maker HP Polymers investing $1.7 million in plant expansion
The Puslinch, Ont.-based firm will bring in new equipment and add five new positions at its facility.
Ontario-based polymer and resin maker HP Polymers Ltd. is undertaking a $1.7 million expansion project at its plant in Puslinch, Ont., just south of the city of Guelph.
HP Polymers will invest nearly $1.5 million in the project, while the Ontario government will invest a further $257,200 from the Southwestern Ontario Development Fund.
The investment includes funds for new state-of-the-art equipment to produce higher quality products faster. “These enhancements will allow the company to diversify its products, strengthen its competitive advantage and create new jobs,” the Ontario government said in a statement.
“Our new state-of-the-art equipment will help produce higher quality products at an increased speed and capacity,” Michael Coates, the company’s managing director for North America, said in the statement. “This, with the new jobs the investment generates, will help take our company to the next level servicing our customers in Ontario and beyond.”
HP Polymers serves the automotive, aerospace, electronics, chemical, and medical industries.
The project is expected to create five new jobs, and is scheduled to be completed by December 2021.