FedDev Ontario invests $850K in Candor Industries Inc. to assist in scale-up
Candor is a fabricator of complex Printed Circuit Boards (PCBs), which allow signals and power to be routed between devices used in everyday life
Technology / IIoT
On May 20, Marie-France Lalonde, Parliamentary Secretary to the Minister of Economic Development and Official Languages (FedDev Ontario and Official Languages), announced a FedDev Ontario repayable contribution of nearly $850,000 for Candor Industries Inc., to scale up and expand operations and create 15 highly-skilled jobs.
Candor is a fabricator of complex Printed Circuit Boards (PCBs), which allow signals and power to be routed between devices used in everyday life, such as blood sugar monitors and remote controls. Candor is experiencing increased demand from clients in the technology, medical device, telecommunications and aerospace sectors for nanotechnology and semiconductor packages required for the high performance of new devices.
With FedDev Ontario support, the company will take on new, first-in-North America PCB manufacturing, including green laser-cutting/drilling, induction lamination, bonding and direct imaging. Adopting new state-of-the-art equipment and technologies will increase output, speed and cleanliness, and add accuracy in its drilling and cutting processes. As a result, Candor will be able to produce higher complexity products for next-generation telecommunications and 5G markets, strengthening its position as an industry leader. Additionally, Candor will significantly reduce its scrap waste and use of environmentally-harmful chemicals, and increase energy efficiency in its lamination process by 80 percent.
FedDev Ontario’s investment will also leverage an additional $1.9 million in private sector funding and boost local supply chain spending.
“The far-reaching results of FedDev Ontario’s investments can be seen in businesses like Candor Industries that are successfully weathering COVID-19 and building resilience for the future. By scaling up to achieve state-of-the-art and energy-efficient processes, Candor will reach new global markets, and not only protect, but also create highly-skilled jobs in the region.” said Marie-France Lalonde, Parliamentary Secretary to the Minister of Economic Development.