Ministry of Economic Development and Growth
Province Partners with Stackpole to Invest in New Technology and Business Growth
Ancaster, ON – April 26, 2018
Ontario is partnering with Stackpole International to invest in new technology and product development at its five locations across the province, creating 326 new jobs and retaining 1,714 positions.
Ted McMeekin, MPP for Ancaster-Dundas-Flamborough-Westdale, made the announcement at the company’s headquarters in Ancaster. Ontario Premier Kathleen Wynne met with Stackpole’s parent company, Johnson Electric, during her December 2017 business mission to Hong Kong, where the investment was confirmed.
Stackpole designs and manufacturers fluid power solutions and powder metal components for the global auto industry. With support from Ontario’s Jobs and Prosperity Fund, the company is investing in a two-part project that will help Stackpole grow its customer base and respond to changing demand in the auto industry for more energy efficient and alternative fuel vehicles. The project includes:
- Establishing a Global Centre of Excellence for mechatronic systems development ― the centre will conduct advanced development into the electrification of the hydraulic system for hybrid powertrains which makes vehicles more energy-efficient and increases the driving range of an electric or hybrid vehicle.
- Purchasing new state-of-the-art equipment for powder metal manufacturing ― the technology will produce advanced powder metal components required for the next generation of 9- and 10-speed transmissions and fuel-efficient engines.
Supporting good jobs and helping businesses grow is part of the government’s plan for fairness, and providing care and opportunity during this period of rapid economic change. The plan includes free prescription drugs for everyone under 25, and 65 or over, through the biggest expansion of medicare in a generation, free tuition for hundreds of thousands of students, a higher minimum wage and better working conditions, and free preschool childcare from 2 ½ to kindergarten.
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