Canada invests $14M for jobs and plant upgrades at steel manufacturer
July 19, 2019
By Manufacturing AUTOMATION
July 19, 2019 – The federal government has announced a $14-million investment in Montreal steel tube manufacturer Nova Tube Inc. in a $33.6-million project that will create 27 jobs and maintain 81 others.
In a release, the government says the investment will help Nova Tube enhance its Montreal plants for production that is faster, more accurate, safer and of higher quality, while reducing waste. The company also expects to increase the volume of made-in-Canada pipes available to Canadian customers across the country.
Nova Tube manufactures standard steel pipe used for fire sprinklers, plumbing and heating, water wells and fences. Nova Tube is the only producer of the complete range of standard steel pipes in Canada.
“Nova Steel appreciates the support from the government of Canada,” says Scott Jones, CEO of Nova Steel, Nova Tube’s parent company. “We are committed to investing in the safest and most modern technology to create long-lasting employment and fair wages in the manufacturing sector in Canada,”
The investment is being made through the Strategic Innovation Fund, a program designed to attract and support high-quality business investments across all sectors of the economy by encouraging firm expansion as well as R&D that will accelerate the transfer of technology and the commercialization of innovative products, processes and services and will facilitate the growth of innovative firms.
In 2018, the Canadian steel industry employed more than 23,000 Canadians and contributed $4.3 billion to Canada’s gross domestic product. This industry is a vital supplier to the Canadian manufacturing, energy, automotive and construction industries.
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