The Province is investing a large sum of money into a Bruce County manufacturing company. it is all part of the Southwestern Ontario Development Fund.
The $430,000 in Provincial grant dollars will support Walkerton's Larsen & Shaw's expansion of its existing production facility and the building a new state-of-the-art production line.
Huron Bruce MPP Lisa Thompson says this is all part of the Ontario government's 'Open for Business' mandate to support local businesses to strengthen the manufacturing sector while creating new jobs.
Thompson calls the Provincial dollars an investment that will enable Larsen & Shaw to grow their market and compete in a very innovative way around the world.
Without revealing how much company capital will be spent, President and CEO Mary Jane Bushell says this will be the single largest capital investment project Larsen & Shaw has ever undertaken in its 100 year history.
She is very excited about the L1 project as it has been named.
By incorporating LEAN principles, Bushell says they will be able to add the production line without adding to the footprint of the building.
The technical portion of the project and the operational objectives are expected to be met by summer.
Meeting the sales and job creation objectives will take a little longer and she estimates that will take 4 to 5 years.
As part of the project, Larsen & Shaw will be employing the latest technology in the metal stamping industry including Internet of Things (IoT).
Bushell says what is learned from this process will be applied across the company in the coming years, thereby enabling Larsen & Shaw to continue to compete on the world stage including in the United States, Mexico & the Middle East.
The L1 Project is expected to create 10 new jobs over the next four to five years. They say this will boost employee numbers to 106.
Larsen & Shaw is a precision manufacturing company that manufactures hinges serving Canada, United States, Mexico and some areas of the Middle East.
Mayor Chris Peabody is elated by the funding announcement calling it an amazing day for Brockton.