Woodstock's ArcelorMittal Tailored Blanks receives $12.73-Million interest-free loan from Federal Government
October 12, 2016 – Woodstock, ON – A $12.73-million investment in an innovative Woodstock auto steel manufacturer was formally announced Wednesday morning by Liberal London North Centre MP Peter Fragiskatos. Through FedDev Ontario’s advanced manufacturing fund it will provide ArcelorMittal Tailored Blanks with an interest-free loan to further develop and bring their innovative products to market. Through this advanced technology development, which results in lighter weight steel and stronger auto-parts, Canadians will benefit from improved fuel efficiency and increased auto-safety while helping to reduce the carbon footprint of automobiles.
Fragiskatos, who made the announcement on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, met with officials and employees at Ontario auto-parts manufacturer ArcelorMittal Tailored Blanks (AMTB) and stated the dollars invested will allow the Commerce Way facility to advance manufacturing technologies in the auto industry. The Government of Canada, through FedDev Ontario's Advanced Manufacturing Fund (AMF), is proud to have supported AMTB's adoption of robotic laser-welding to produce lighter and stronger auto-parts. This innovative project is an example of how investing in the right resources, helps to grow our exports so that Canadian companies can create quality jobs, strengthen the middle class, and grow the economy for Canadians.
The innovation agenda this government is pursuing is really important for this county and you are a part of it,” Fragiskatos told the media, FedDev representatives and employees. “Across this county, we will be focusing in investment that will help support health sciences, the digital sector, advanced manufacturing and beyond. For me, it’s really important that it is happening here in southern Ontario.”
“It’s a different approach to manufacturing,” said vice-president Ben Orler. “It’s good news not only for Woodstock but this entire region.”
Through this project AMTB, has also increased their footprint in Ontario's innovative automotive corridor by opening up a new operation with the retrofitting of a 93,000-square foot facility. Completed in March 2016, the plant was built for a total of $25 million, half of which was invested by the company and the other half supported by the FedDev interest-free loan.
The increased production from this project positively impacts southern Ontario's automotive supply chain, which includes materials sourced from an Ontario supplier, final products processed in St. Thomas, and the completed auto-parts integrated at the Chrysler Canada assembly plant in Windsor.
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. This investment is another example of that vision in action.
Quotes
"Ontario's manufacturers continue to take on the challenges of an increasingly global and competitive marketplace. This investment in AMTB's world-leading process that creates stronger, lighter auto-parts is creating more high-quality jobs for Canadians and is increasing the global competitiveness of our auto-part manufacturers."
– Peter Fragiskatos, Member of Parliament for London North Centre
"The key to securing Canada's place in this new industrial age is innovation. Today's announcement is a clear example of the Government of Canada's commitment to innovation in manufacturing and our commitment to continued economic growth and job creation for the middle class and those wishing to join the 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
"This investment is a key strategic success for both ArcelorMittal Tailored Blanks and the Government of Canada, as it positions our company to successfully service the Canadian automotive market with the most advanced laser welded blanks in the industry. This in turn further strengthens Canadian automotive manufacturing and Canadian jobs in advanced manufacturing."
– Todd Baker, President of ArcelorMittal Tailored Blanks
Quick Facts
•The advanced manufacturing process has allowed AMTB to be more competitive against low-cost automotive part producers in other countries. In addition, the company has received multiple new sales orders and will be exporting parts to Honda U.S. from the Woodstock facility.
•The project has strengthened Ontario's knowledge of advanced materials and is positioning AMTB's Woodstock facility as a centre of expertise in high-skilled training.
•AMTB is owned by ArcelorMittal Canada Inc. of Hamilton, Ontario, which in turn is owned by Luxembourg-based ArcelorMittal. ArcelorMittal is a world-leading steel and mining company with operations in over 60 countries employing some 209,000 people globally.