The expansion to produce lighter, more efficient automobile transmission and power train parts is expected to create another 1,200 jobs in Guelph over the next 10 years.
“Our Canadian plants are our most productive globally thanks to a talented, skilled workforce with an amazing work ethic and a dedication to process and product innovation throughout our company,” said Linda Hasenfratz, Linamar CEO, adding that the combination of innovation and efficiency is “what makes us competitive on a global scale.”
“It is critical for our governments to also create a competitive environment for companies to invest and they certainly have done so today with this funding in addition to a competitive tax rate and support for innovation and education unparalleled globally,” she continued.
The province is providing a $50.25-million grant to the company while the feds’ $50.7-million contribution is in the form of a repayable loan.
“[The announcement] demonstrates Ontario’s ongoing commitment to partnering with the auto industry and its workers to create long-term growth and global competitiveness,” said Brad Duguid, Ontario minister of economic development, employment and infrastructure.
“My government is proud to support the next phase of its growth and help create high-quality jobs for the people of our province,” added Kathleen Wynne, premier of Ontario.
Linamar currently employees 6,870 Ontarian and a global workforce of 19,000.
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Photos courtesy the Ontario government.