Ont. gov’t aids modernization at Nova Chemicals plant
The Ontario provincial government is funding material supplier Nova Chemicals Corporation with $10 million t...
The Ontario provincial government is funding material supplier Nova Chemicals Corporation with $10 million to modernize and expand production at the company’s Mooretown plant while retaining 160 jobs.
In total, Nova is investing more than $78 million in the Mooretown facility to replace aging equipment and increase production of low-density polyethylene. The project is expected to be completed by the end of 2011, and follows a recent expansion at Nova’s Corunna, Ont. plant.
The province is providing a $10 million loan through the Advanced Manufacturing Investment Strategy for the new equipment in Mooretown. According to Nova, this project will help retain high-skill jobs and increase energy efficiency at the facility while boosting productivity by more than 50 per cent.
The funding comes after Ontario recently launched a new, five-year “Open Ontario Plan” to strengthen the economy and create more jobs for families in the province.
“We are proud to support Nova’s latest investment in Ontario,” said Sandra Pupatello, Minister of Economic Development and Trade. “This project will help ensure the long-term viability of this facility, protecting good jobs for hard-working Ontario families and anchoring Nova’s investment in the province,”
Headquartered in Calgary, Alta., Nova is one of the largest employers in that region of Ontario, employing roughly 900 full-time workers in Sarnia-Lambton, including 240 employees at their Mooretown facility. The company has invested approximately $600 million in their Ontario operations over the last five years.