Ontario invests $5 million in SW businesses’ expansion plans
Two southwestern Ontario businesses have received significant investments from the provincial government that will help them expand their respective facilities.
Valbruna ASW and Quick Plug CA will share in $4.9 million from the province to support a combined investment of more than $53 million.
Valbruna ASW Inc. is Canada’s only manufacturer of specialty steel products, including carbon, alloy and stainless steel. The company is investing $50 million in new equipment and facility upgrades. With an investment of more than $4.4 million from the province’s Southwestern Ontario Development Fund, Valbruna ASW expects to be the first in Canada to produce hi-nickel alloys and other specialty steels, which will help to expand product offerings and boost sales.
“This investment is strategic to the future of Valbruna ASW, our current and future employees, our customers and suppliers and our community partners,” said Tim Clutterbuck, President of Valbruna ASW Inc. “As Canada’s only specialty steel producer, uniquely capable of refining high quality stainless steels, we are grateful for the support and recognition of the provincial government. We are excited to undertake this project, which will improve our efficiency and productivity as well as reduce our environmental footprint.”
Quick Plug CA Inc., meanwhile, engineers and manufactures a variety of peat plug products for professional growers, including traditional greenhouses and hydroponic growers. The company will spend $3.2 million to centralize its North American production facility in St. Catharines. It aims to modify its current facility, as well as purchase new equipment and machinery to build a new, state-of-the-art manufacturing line. Quick Plug also plans to build a new research and development center in the facility. The province is contributing $480,000 to the initiative.
“These investments will help us be a safe and productive employer that provides good local jobs for many years to come,” said Bill Maartense, managing director of Quick Plug CA Inc.
The Ontario government launched its Regional Development Program for Eastern and Southwestern Ontario in November 2019. It will invest more than $100 million through the program to support regional priorities and challenges and boost the province’s economic recovery. The program provides cost-shared funding to businesses, municipalities and economic development organizations to help local communities attract investment, diversify their economies, and create local jobs.