Federal Industry Minister Tony Clement has announced that FedNor is investing $455,000 in Rotacan to help the North Bay mining equipment manufacturer enhance and expand its product line.
The money will go toward technical enhancements to Rotacan's product lines, including the development of a new, sealed bearing drill bit which has applications in the oil and gas industry.
"We are very excited about the positive impact this investment will have on our ability to enter new markets and grow our business," said Rotacan owner Joe Guido in a Dec. 19 news release.
"This funding will allow us to diversify our product line, hire additional staff and help position our organization for long-term growth and prosperity."
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