TILLSONBURG, Ont.—FedDev Ontario has set aside $5.25 million to help a pair of manufacturers based outside of London, Ont. scale up their operations and increase their global competitiveness.
Auto parts supplier Marwood Metal Fabrication Ltd. will receive the lion’s share of the fresh funding. The company, which builds metal stamped parts for a number of automakers, will get $4.27 million from the federal development fund to expand its plant and buy new hot stamping and press technology. With a $1.5 million contribution from the provincial government and private funds, the project is worth a total of $17.5 million.
The Tillsonburg, Ont.-based company said the expansion will boost its productivity, enhance its competitiveness and create 70 new jobs.
Otter Valley Foods Inc., meanwhile, will receive $975,000 from FedDev Ontario to expand its 95,000 sq. ft. plant in Tillsonburg. The company is owned by Inovata Foods Group and makes private label frozen entrees sold in grocery stores across the country.
The nearly $1 million federal loan will help Otter Valley install a new production line and install a second freezer system. The expansion is worth $3.9 million overall and expected to create 40 new jobs.