LONDON, Ont.—South Korean conglomerate Hanwha Group is investing $45 million in its London, Ont. manufacturing plant.
The diversified company, which makes stone countertops, flooring and other similar products at its HanStone Quartz facility in southwest Ontario, will use the funds to integrate new robotic technology and double its current production capacity.
“This investment will allow us to continue to be innovative in our manufacturing of HanStone Quartz, create employment opportunities and contribute to a healthy London economy,” Myeong-Ho Han, president and CEO of the company’s Canadian subsidiary, said.
Hanwha L&C Canada Inc. is directing $28.6 million toward the project, while the federal and provincial governments are each kicking in significant financial aid. FedDev Ontario will contribute $15 million to the expansion, while the provincial government has also agreed to invest $1.5 million.
The project is expected to create 85 new jobs in London.
Along with the announcement, Hanwha announced it would make the Ontario facility its North American headquarters—something the federal government says could pave the way for further investment in the future.