Laker betting big on nuclear, launching multi-million dollar manufacturing facility
Company will boost output while adding 40 staff at new Oakville, Ont. plant
OAKVILLE, Ont.—Laker Energy Products is making a big bet on Ontario’s nuclear future, as well as the worldwide adoption of the CANDU reactor.
To meet growing demand from the domestic and international nuclear market, the Burlington, Ont.-based manufacturer recently purchased, and is developing, a 65,000 square-foot facility in Oakville, Ont.
“By investing several million dollars in our business through new innovative equipment, tooling and the space required to increase our production, we are confident in being the leader in components for the CANDU nuclear power industry,” said Chris Hughes, President, Laker Energy Products.
Initially supplying nuclear-grade pipe, tubing, fittings and fasteners for the CANDU nuclear power industry, the company is evolving to meet customer demand for new, reliable sources of reactor components. It serves the CANDU market exclusively, supplying Canada’s 19 operational reactors, as well as those around the world with vital parts.
The company said it will use its new plant to handle orders from a variety of life-extension projects from reactors in Ontario, as well as new builds in Argentina, Romania, China and the UK. Laker said the new plant will focus on manufacturing fuel channel end-fittings and liners, and triple the company’s machining capability. It will also hire 40 additional staff to help run operations.
Ontario’s Minister of Energy, Bob Chiarelli, who toured the new facility Sept. 16 along with several other officials, noted the nuclear sector’s economic ripple extends across the province.
“The nuclear industry supports thousands of jobs and provides billions in investment across Ontario, while at the same time providing affordable electricity for families and businesses,” he said.
Among numerous refurbishments in the industry, Ontario Power Generation’s work on the Darlington Nuclear station is scheduled to begin in 2016, giving companies such as Laker the chance to scale up operations.