Ontario Government Investment Helps Secure New Plant

Ontario, Canada is supporting the opening of a new manufacturing facility in southwestern Ontario, which will create approximately 64 new jobs in Wallaceburg when the facility opens in summer 2010.

A recognized leader in providing conveyor systems for the mining industry, Precismeca Ltd. is investing nearly $3 million to equip the plant, including a $894,000 loan from Ontario’s Advanced Manufacturing Investment Strategy (AMIS).  The company is also relocating to Ontario from Alberta.

The provincial funding will be used towards the purchase of state-of-the-art equipment and design software, giving the company a competitive advantage in the marketplace.  Partnering with business is a key component of the government’s five-point economic plan to grow the economy.

“We’re happy to welcome Precismeca to Ontario.  International business decision-makers continue to choose Ontario because our focus on advanced technology, our highly skilled and educated workforce, and our competitive business costs make us a premier investment destination,” said Sandra Pupatello, Minister of Economic Development and Trade.

“Our growth plans depend on attracting and retaining skilled workers, and made relocating to Ontario a sound business decision. We are grateful for the support we have received from the province and are excited to becoming part of the Wallaceburg community and economy,” said Joe Hartney, President and Chief Executive Officer, Precismeca Ltd.
QUICK FACTS

Precismeca supplies standard and customized conveyor systems for mining companies across Canada, the United States and South America.

Ontario’s $500-million AMIS program provides repayable loans, interest free for up to five years, to encourage companies to invest in leading-edge technologies and processes.

To date, AMIS has made loan commitments of over $105 million, generating about $900 million in new investments and supporting the creation or retention of over 4,300 jobs.

For more information, contact:
Alistair Scott
0207 932 1871
alistair.scott@grayling.com

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