Release – FedDev Ontario Announces Funding for Innovative Manufacturers in Guelph and New Hamburg
March 15, 2016
FedDev Ontario Announces Funding for Innovative Manufacturers in Guelph and New Hamburg
March 15, 2016 Guelph
Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
Today, the Honourable Bardish Chagger, Minister of Small Business and Tourism, alongside Lloyd Longfield, Member of Parliament for Guelph, announced combined funding of up to $6.6 million to the Hammond Manufacturing Company and Ontario Drive & Gear Limited to acquire innovative technologies, boost productivity, generate job growth and increase business and export opportunities. This announcement was made on behalf of Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario.
The Canadian economy is shifting and traditional industries such as manufacturing must adapt to a more competitive global economy. The Government of Canada is committed to supporting innovative manufacturers, like the Hammond Manufacturing Company and Ontario Drive & Gear Limited, obtain the tools they need to succeed.
The Hammond Manufacturing Company, headquartered in Guelph, received an investment of up to $3.46 million from FedDev Ontario, to buy equipment, improve processes, support expansion to a new facility in Guelph and make facility modifications at both the new location and the existing facility in Guelph.
Ontario Drive & Gear Limited, located in New Hamburg, received funding of up to $3.14 million from FedDev Ontario, to purchase new gear manufacturing equipment, expand its engineering department by 10,000-square feet and advance new product lines to become more competitive and reach new markets.
These efforts are expected to help the companies increase their competitiveness and productivity, while also boosting sales and increasing export opportunities in new markets. The projects are also projected to have spillover benefits, with increased production benefitting supply chains across southern Ontario and local equipment vendors.
- The repayable contributions are being provided through FedDev Ontario’s Investing in Business Growth and Productivity initiative.
- The projects are expected to create or maintain up to 165 full-time equivalent jobs.
- The Hammond Manufacturing Company also recently received a $100,000-investment through the FedDev Ontario-funded Canadian Manufacturers & Exporters (CME) SMART Advanced Technologies for Global Growth Program to purchase a new press brake, which is expected to increase productivity at the company’s Edinburgh Road location.
- This announcement builds on previous support received by both companies through the FedDev Ontario-funded Achieving Innovation in Manufacturing Excellence Global initiative, delivered by the Yves Landry Foundation.
“Our investments in the Hammond Manufacturing Company and Ontario Drive & Gear demonstrate our continued support for southern Ontario’s manufacturers and producers. Today’s announcement reinforces our commitment to growing our local economy by enhancing productivity for our manufacturers, supporting job creation and helping businesses reach export markets.”
– The Honourable Bardish Chagger, Minister of Small Business and Tourism
“Today’s announcement is a prime example of how we are creating strong businesses and sectors to support increased productivity and innovation. This investment will support the Hammond Manufacturing Company and Ontario Drive & Gear in obtaining the tools they need to grow and succeed.”
– Lloyd Longfield, Member of Parliament for Guelph
“We are proud to partner with the Federal Economic Development Agency for Southern Ontario on this project, which will continue our company’s legacy of excellence in Guelph. This investment supports our efforts to improve our processes and systems, which will help us to continue to offer exceptional products for our customers worldwide.”
– – Robert Hammond, President, Hammond Manufacturing Company
“The FedDev Ontario contribution will enable Ontario Drive & Gear Limited to leverage more than $10 million in private sector financing, allowing us to maintain our competitive position and compete for global market opportunities. Thank you to the Government of Canada for recognizing Ontario Drive & Gear as a key partner in strengthening southern Ontario’s manufacturing sector.”
– Joel Wright, President, Ontario Drive & Gear Limited