Soo Foundry is purchasing new equipment to help expand its business with provincial funding from the Northern Ontario Heritage Fund Corp. (NOHFC).
The Sault Ste. Marie company is receiving $427,250, in the form of a 50/50 grant and loan, to purchase new equipment, including a CNC horizontal boring mill, to facilitate the expansion of the machine and fabrication shop. The investment is helping protect 10 jobs.
“This assistance from the NOHFC provides Soo Foundry and many companies in Northern Ontario, the ability to purchase new machinery and technology they would not otherwise be able to afford, expand sales, maintain and hopefully increase existing employment, and become more efficient and competitive,” said Robert Cohen, Soo Foundry and Machine president, in a news release.
“It is a great program that really helps organizations in our community become more successful.”
In business for more than 50 years, Soo Foundry employs a workforce of 40 to 45 machinists, welders, millwrights, and hydraulic technicians at its 40,000-square-foot facility, which offers fabrication, machining, and millwrighting services.