May 15, 2006
Auto parts manufacturer receives $44.5 million grant from Ontario government
Guelph, Ontario – Auto parts manufacturer Linamar Corporation has announced that the Government of Ontario will contribute a grant of $44.5 million to the company’s $1.1 billion investment for training, product technology development, and an advanced manufacturing technology centre in Guelph, Ontario to house training and R&D efforts. The investment is expected to help create 3,000 jobs at Linamar over the next five years, most of them in Ontario.
“With the support of the Ontario government, we will build the much-required skills and education for our current employees, as well as the 3,000 team members we’ll add in the next five years, in a fiscally responsible manner,” said Linda Hasenfratz, CEO of Linamar Corporation. “We have a responsibility to our employees and customers to provide the best technology, products and skills; this agreement will ensure that we continue to achieve these goals long into the future.”
Part of the government grant will be used to establish a new Linamar Technology and Training Centre, which the company says will strengthen the competitiveness of its 22 Guelph-area plants and expand its knowledge base. The company is a global manufacturer, with over 10,000 employees in 36 manufacturing locations, five R&D centres and nine sales offices in Canada, the U.S., Mexico, Germany, Hungary, China, Korea and Japan. In 2005, its sales topped $2.1 billion; the company is focused on growing its business to $10 billion in sales by 2020.