Ontario, Canada Supporting Steel Industry: Province Helps Ivaco Rolling Mills Create Jobs in Eastern Ontario
TORONTO, March 17, 2014 /PRNewswire/ -- Ontario, Canada is helping Ivaco Rolling Mills modernize its facility to increase capacity and produce higher-quality steel products, expanding opportunities to supply industries including automotive, advanced manufacturing and energy. Also, the new technology will make the plant more energy efficient, require less raw materials and reduce particulate emissions for cleaner air.
QUOTES
"The investment we're announcing today will help Ivaco improve its competitiveness while increasing environmental protection. Support for manufacturing is part of the Ontario government's strategy to create jobs and grow the economy for a more prosperous and fair Ontario."
— Dr. Eric Hoskins, Minister of Economic Development, Trade and Employment
"These important upgrades signal the next performance chapter for our company. Our team looks forward to offering our customers a further expanded line of high-quality products to meet their evolving needs. This is a great opportunity for the community and for this company."
— Giorgio Piliu, President, Ivaco Rolling Mills
QUICK FACTS
- Ontario is providing a loan of $7 million towards the project, which has a total value of $80 million.
- More than 80 per cent of all the steel made in Canada comes from Ontario with the industry directly employing over 17,000 people in the province.
- For 2012, Ontario ranked first in North America for the number of foreign direct investment (FDI) projects per capita among states and provinces with a population of more than one million.
- Ontario has recovered all the jobs lost during the recession and continues to outpace the United States and Great Lakes region in job creation since 2009.
LEARN MORE
Read about Ontario's strengths as a location for business investment.
FOR MORE INFORMATION CONTACT
Patricia Pytel
Media Relations, Ministry of Economic Development, Trade and Employment and Ministry of Research and Innovation
[email protected]
416-327-8313
or
Margy Sweeney
Akrete Communications
[email protected]
312-612-0343
SOURCE Ministry of Economic Development, Trade and Employment - Ontario, Canada
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article