Precision parts firm Dynacast spending $1M to expand Peterborough, Ont. plant
The company manufactures components for the automotive and electronics industries, among others. The project should create 10 new jobs
PETERBOROUGH, Ont.—Dynacast Ltd., an Ontario manufacturer that makes precision metal components, is expanding its plant in Peterborough, Ont. with help from the province.
Jeff Leal, the Ontario minister who oversees small businesses, made the funding announcement at the company’s facility Aug. 31.
The expansion project is worth just over $1 million, with Ontario contributing $137,000. It’s expected to create 10 new jobs in the city northeast of Toronto.
Dynacast will use the funds to buy new equipment and train staff.
“This support will help us improve our production capacity and will increase our work force to approximately 130 employees locally and grow our global presence to remain competitive in this dynamic industry,” Doug Montgomery, general manager at the firm’s Peterborough plant, said in a statement.
The company said it’s also aiming to use the upgrades to increase its export business.
Work on the expansion project is scheduled to wrap up by late 2019.