LONDON, ONARIO--(Marketwired - Nov. 25, 2016) - Economic Development Agency for Southern Ontario (FedDev Ontario)
Canadian companies need the right resources to further develop and bring their innovative products to market. Today, Hanwha L&C Canada Inc. is receiving a $15-million investment that will allow the company to double its production capacity and integrate robotics in a unique advanced manufacturing process that is a first in Canada.
Peter Fragiskatos, Member of Parliament for London North Centre, and Kate Young, Member of Parliament for London West, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, made the announcement today at Hanwha's London facility.
This repayable contribution, through FedDev Ontario's Advanced Manufacturing Fund (AMF) will allow Hanwha to manufacture a new line of countertops and flooring, adding 85 new full-time jobs. Hanwha's expansion will provide consumers with Canadian-made, higher-quality, lower-cost engineered stone-based surface products. Hanwha will also establish London as its North American headquarters paving the way for future foreign investment in the region.
The Government's Innovation Agenda aims to make Canada a global centre for innovation - one that creates jobs, drives growth in all industries and improves the lives of all Canadians. Today's announcement is another example of that vision in action.
"Canadian manufacturers are taking on the challenges of an increasingly global and competitive marketplace. FedDev Ontario's investment will support Hanwha's long-term success in London, create high-skilled jobs for Canadians, and pave the way for future foreign investment in the region."
- Peter Fragiskatos, Member of Parliament for London North Centre
"The Government of Canada is proud to support Hanwha's innovative, first-in-Canada technology. This investment demonstrates our commitment to Canadian manufacturers' adoption of innovative technology that increases productivity, increases global exports and creates more high-quality manufacturing jobs and prosperity for Canadians."
- Kate Young, Member of Parliament for London West
"Canada's manufacturing sector is a cornerstone of the economy. New advanced technologies and investments in state-of-the-art capital equipment are lowering production costs, increasing productivity and allowing for the creation of new innovative products and new well-paying jobs that will contribute to a stronger middle class."
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario
"Hanwha L&C is thrilled to work alongside the Government of Canada. This investment will allow us to continue to be innovative in our manufacturing of HanStone Quartz, create employment opportunities and contribute to a healthy London economy. We are proud to do business in this community and are proud to make this London facility our North American headquarters."
- Myeong-Ho Han, President & CEO, Hanwha L&C
- In addition to the 85 new jobs created in London, the project will generate 100 indirect jobs through spin-off employment and support Canadian businesses in Hanwha`s supply chain.
- Since 2009, Hanwha has been manufacturing stone-based products under its HanStone brand in London. Its products are marketed in well-known retail outlets across North America like Home Depot, Rona and IKEA, and also sold to residential, commercial and institutional construction projects.
- The total project cost of $45.1 million will be divided between FedDev Ontario ($15 million), the Government of Ontario ($1.5 million), and Hanwha L&C Canada ($28.6 million).
- Hanwha L&C Canada Inc., a Fortune 500 company, currently employs 110 full-time staff and is part of South Korea's Hanwha Group, the world's third largest producer of construction material, the fifth largest industrial conglomerate, and a world leader in the manufacture of industrial materials like plastic flooring, plastic auto parts, and packaging materials.
Advanced Manufacturing Fund
Hanwha L&C Canada Inc.
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