Two Waterloo companies to get cash influx from Ontario government
Manufacturers will receive funds to adopt automation, buy new equipment
WATERLOO—The Ontario government is pumping more than $600,000 into two Waterloo, Ont. manufacturers through the Southwestern Ontario Development Fund.
The province said the investment will create 18 jobs at Tri-Mach Group Inc. and Demtool Inc., while retaining more than 70 others.
“Tri-Mach is a leader in the industry, but to stay ahead we need to continue to evolve,” the company’s president and CEO, Harold Whiteside, said. “With Ontario’s support, our company is able to do just that by pursuing large project opportunities with major United States food processors, expand our client base, and diversify into new market segments.”
Tri-Mach, which manufactures sanitary equipment for the food processing, liquid processing and pharmaceutical industries, will receive $344,000. The funds that will go toward a $3.4 million project the company has launched to expand its facility and adopt automation.
Meanwhile, Demtool Inc. is poised to receive $316,560 it will use as part of a $3.1 million project to expand and consolidate its facilities as well as purchase new equipment. Demtool manufactures machining, fabricated and laser cut components for the agricultural, automotive and food processing sectors, and the expansion will help it increase its production capacity.