Acquisition allows Brampton, Ont.-based Mirus to grow presence in Asia Pacific market, according to company
BRAMPTON, Ont.—An Ontario-based maker of power quality improvement products has announced the acquisition of a manufacturing site in China, allowing it to grow its presence in the Asia Pacific market.
Mirus International Inc. announced the acquisition of a facility in Suzhou, in Jiangsu province—a sister province to Ontario.
“It has allowed Mirus to be more competitive on a global scale,” company president and CEO Tony Hoevenaars said of the acquisition in a statement.
“Not only does it allow us to affordably expand our offering, it gives us a chance to be involved in Ontario’s ongoing initiative to partner with China for business building and job creation.”
The acquisition has saved a number of jobs in China, and expanded Mirus’ Ontario operations “significantly,” according to Mirus, building a Canadian management, engineering, training, and support presence that has created additional jobs in Ontario.
The announcement of the acquisition comes after Ontario Premier Kathleen Wynne led a trade mission to China, where she announced new Chinese investment in Ontario that will create as many as 1,800 jobs in the province.
“While China is adding jobs in Canada, Ontarians like us are reciprocating by building opportunities for Chinese workers as well,” Hoevenaars said. “We’ve already added 14 jobs in our 5,000-square metre facility in China and expect that to grow to 50 positions within the next couple of years. We are also increasing jobs in Brampton, partly to support the manufacturing operation in Suzhou.”
Mirus was recently recognized as a finalist in the Emerging Exporter category of the 2014 Ontario Export Awards, which recognize excellence in exporting by Ontario-based companies.
Awards will be handed out Nov. 25 at an event in Mississauga, Ont.
To find out more, log on to the Ontario Export Awards website.
The Ontario Export Awards are produced by CanadianManufacturing.com and parent company Business Information Group.