Johnson Electric, Hong Kong, parent company of Stackpole International, Mississauga, Ontario, Canada, will invest $351 million in the development of new and expanded facilities in the Greater Toronto and Hamilton areas of Canada, according to a report by Area Development Online.
The investment will reportedly support the development of state-of-the-art electronic auto manufacturing through the purchase of new equipment for powder metal manufacturing, as well as the establishment of a Global Center of Excellence for E-Pump Development.
Ontario’s Provincial Government states that it has committed up to $24.1 million to the project through its Jobs and Prosperity Fund, which provides government funding to businesses, business associations and entrepreneurs to enhance productivity, create jobs in Ontario and help companies compete in the global marketplace.
The expansion is expected to create 326 new jobs and retain a further 1,714 manufacturing positions across the province. The project is scheduled for completion in 2024.