Macrodyne Technologies receives a $5M manufacturing investment
by CM staff
Macrodyne Technologies will create 25 jobs in Vaughan.
VAUGHAN — The Ontario government is welcoming a $5 million investment by Macrodyne Technologies Inc., North America’s manufacturer of hydraulic presses and automation systems, equipment used by manufacturers to shape and mould materials such as metal, plastic, rubber and wood.
This investment will be used to purchase manufacturing technology for the company’s facilities in Vaughan and create 25 new jobs for machine builders, electricians, hydraulic technicians and engineers.
“By lowering taxes, cutting red tape, and investing in skilled labour, our government is creating the conditions for private sector growth, which is helping to create good-paying jobs across the region,” said Stephen Lecce, Member of Provincial Parliament for King — Vaughan. “We are proud of the expansion of Macrodyne Technologies as it supports growth in Vaughan’s local economy”
“Since 2018, more than 700,000 jobs have been added to Ontario’s workforce thanks to companies like Macrodyne Technologies,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Through our Regional Development Program, our government is proud to help Ontario manufacturers expand and create more good-paying jobs. Thank you, Macrodyne Technologies, for continuing to innovate and invest in Ontario.”
With their $5 million investment, Macrodyne Technologies will purchase technology to expand their product line and add more automation and AI solutions. This new technology will help the company double production to meet demand, including those in the steel and aluminum, automotive, aerospace and pulp and paper industries.
As part of this investment, the government is providing Macrodyne Technologies with $750,000 in funding through the Advanced Manufacturing and Innovation Competitiveness (AMIC) stream of its Regional Development Program.
“Our consistent growth and innovation are driven by the extensive group of long-term customers who continue to purchase Macrodyne hydraulic presses, press lines, automation and die handling equipment on a repeat basis,” said Kevin Fernandes, President of Macrodyne Technologies. “We are grateful to the Premier, Minister and the Ontario government for supporting our mission in creating and bringing world-class manufacturing technology to Canada and improving skillsets for employees.”