GUELPH, Ont.—Ontario auto parts manufacturer Teutech Industries Inc. is pumping $10 million back into its business.
With the help of a $1 million investment from the province’s Southwestern Ontario Development Fund, the parts company plans to buy new equipment as it increases its capacity and adapts to the evolving needs of the large automakers.
“We know there is increasing demand for our products and we can meet that demand by expanding our operations and by modernizing and automating our operations with this funding,” Tony Steer, the company’s CEO, said.
Teutech operates four plants within close proximity of each other in Guelph, Ont., just west of Toronto, as well as one parts plant south of the border in Pennsylvania. The company has a range of capabilities, including fabrication, precision and high-volume machining and laser cutting.
As the part supplier scales up, the expansion is expected to create 50 new jobs in Guelph.