ON: MTM Automation and Aerospace to Increase Capacity, Add Jobs
6 Dec, 2016
Ministry of Economic Development and Growth Ontario is partnering with MTM Automation and Aerospace Manufacturing Inc. to invest in new equipment and innovative technologies, creating six new jobs and retaining 12 positions in Guelph.
MTM Automation and Aerospace Manufacturing makes high-precision metal components, gauges, automation systems and machines used by industries including aerospace, defence and oil and gas.
The company is investing in new state-of-the-art equipment that will increase capacity and efficiency. It will also enable MTM to expand into new markets with more technically demanding components, and tap into new opportunities in the oil and gas industry.
Investing in advanced manufacturing is part of our plan to create jobs, grow our economy and help people in their everyday lives.
- MTM Automation and Aerospace Manufacturing’s customer base includes the aerospace, military, oil and gas, power generation and automotive industries. The company supplies customers such as Northstar Aerospace, Magellan Aerospace, Siemens, and Weatherford.
- Ontario is investing $175,100 from the Southwestern Ontario Development Fund for this project. The project has a total eligible value of more than $1.75 million and is expected to be completed by 2018.
- Since 2013, the Southwestern Ontario Development Fund and Eastern Ontario Development Fund have helped to create and retain more than 34,500 jobs and attracted approximately $1.68 billion in investment. The funds cover up to 15 per cent of eligible project costs, with the recipient company funding the remainder from its own resources.
- Ontario is accepting applications for the Southwestern Ontario Development Fund from qualified businesses that are growing and creating jobs. Sectors eligible for the fund include advanced manufacturing, food processing, life sciences, information and communications technology, tourism and cultural industries.
- Ontario’s five-year, $400-million Business Growth Initiative is helping to grow the economy and create jobs by promoting an innovation-based economy, helping small companies scale-up and modernizing regulations for businesses.