REGINA—The Brandt Group of Companies has partnered with U.S.-based industrial liquidator Prestige Equipment and financial services company Hilco Global to buy a green energy equipment factory in Saskatoon for an undisclosed sum.
Formerly owned by Mitsubishi Hitachi Power Systems Canada, the entire 22-acre parcel is located in the city’s Hudson Bay Industrial area.
It is believed that Hitachi has invested hundreds of millions of dollars in the gas turbine and wind generation equipment manufacturing facility since its construction in 1988.
The plant features the largest machining and fabrication equipment in Canada and has produced power generation equipment for customers around the world.
The acquisition of this facility will bring Brandt’s manufacturing footprint in the province to over 500,000sq/ft., split evenly between Regina and Saskatoon.
Reopening the plant, which closed in October 2016, will save 400 jobs.
“We realized that it was critically important for us to move quickly,” said Brandt President, Shaun Semple. “When we learned that the Hitachi assets were going be broken up and sold off in spring, we had to act fast or the province would lose a world-class facility and the ability to produce large-scale green energy products.
The expected closing date for the Saskatoon deal is Apr. 10, 2017.