Soo Foundry and Machine will receive targeted funding of up to $475,000 from the Northern Ontario Heritage Fund Corp. (NOHFC) to purchase new hydroelectric equipment.
The company will purchase equipment such as a horizontal boring mill, plate rolls and other tools that will allow it to compete for large projects that have traditionally been awarded to companies in southern Ontario. The expansion is expected to create two new jobs.
Soo Foundry president Robert Cohen expressed his gratitude for the money, which comes from the NOHFC's Enterprise North Job Creation Program, in a news release.
“Manufacturing is a challenging business requiring ongoing capital investments to support growth, innovation and keep up with changes in technology,” he said in the release. “Soo Foundry employs a highly skilled workforce including many tradespeople and apprentices who will benefit from provincial capital being invested into local businesses.”
Sault MPP David Orazietti, who made the announcement, said the funding would help the the business “expand, attract new work, and create more jobs, which is important to strengthening Sault Ste. Marie's economy.”
.jpeg;w=120;h=80;mode=crop)
