BURLINGTON, ONTARIO--(Marketwired - Aug. 5, 2016) - Federal Economic Development Agency for Southern Ontario
Today, Karina Gould, Member of Parliament for Burlington, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, announced an investment of up to $500,000 in Etratech Enterprises Inc. to acquire and install new state-of-the-art equipment and adopt new technologies.
Companies need to embrace investments in technology like never before, including companies in traditional sectors using new technologies to reach their full potential. That is why the Government of Canada is pleased to invest in Etratech Enterprises Inc., a company that specializes in the design, development and manufacture of advanced electronic controls and control systems for the automotive sector, along with other industries.
By integrating innovative production technologies and processes, including Surface-Mount Technology equipment and a new component traceability system, Etratech Enterprises Inc. will be able to increase efficiencies, diversify product offerings, enhance product safety and boost productivity. This investment will help the company fulfil recently acquired production contracts with Stoneridge Inc. which will provide parts to General Motors. The project is also expected to strengthen southern Ontario's automotive supply chain by adding capacity to develop and produce electronic control components, as well as enhance southern Ontario's competitive position as a global supplier of electronics to the automotive sector.
"The Government of Canada is making strategic investments to help manufacturers seize market opportunities required to grow their businesses. This investment is helping Etratech Enterprises Inc. to adopt new equipment and technologies, which will support not only the company's growth, but the economic growth of southern Ontario."
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister Responsible for the Federal Economic Development Agency for Southern Ontario
"With this investment, Etratech Enterprises Inc. will improve efficiency and increase productivity. FedDev Ontario's support is helping a local company become more innovative and competitive, which translates into growth and new jobs for our region."
- Karina Gould, Member of Parliament for Burlington
"Government of Canada support is helping Etratech expand into global markets to increase our export sales and add to our headcount at our Burlington, Ontario based facility. With today's investment from FedDev Ontario, we are well positioned to continue this sales growth both domestically and internationally."
- Michael Desnoyers, President and CEO, Etratech Enterprises Inc.
- The repayable contribution of up to $500,000, toward a total project cost of $2 million, is being provided through FedDev Ontario's Investing in Business Growth and Productivity initiative. This project is expected to create up to 25 full-time equivalent jobs.
- Established in 1989, Etratech Enterprises Inc.'s Burlington headquarters is focused on servicing the automotive sector. The company is one of the few electronic manufacturers in Canada to receive the IS/TS 16949 certification. Etratech also operates Etratech Asia-Pacific Limited in Shenzhen PRC.
- In 2013, the company received a non-repayable contribution of $75,000 from the FedDev Ontario-supported Canadian Manufacturers and Exporters SMART program to purchase new equipment.
Investing in Business Growth and Productivity initiative
Etratech Enterprises Inc.
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