The federal government has announced a large investment in a local manufacturer.
Minister of Economic Development and Official Languages Melanie Joly announced a FedDev Ontario contribution of up to $5 million for Valbruna ASW Inc. in Welland, in order to help them expand into new markets in Canada and abroad.
The company is the only specialty steel producer in the country, and is a significant employer in Niagara's manufacturing sector.
Valbruna produces carbon, stainless and other specialty steel materials for sectors including the automotive, medical and aerospace industries.
As a result of the expansion project, 110 jobs will be maintained and 15 more jobs in Welland will be created.
Valbruna also expects the investment to help the company double its local supplier purchases, thus increasing spending in regions including Niagara, Hamilton and Toronto.
St. Catharines MP Chris Bittle was on hand for the announcement, saying the investment shows the government's commitment to manufacturing.
"By helping the company grow and reach new markets, we are supporting over 110 existing jobs in our community and creating 15 new good paying jobs in Niagara. Manufacturing is an essential part of our local economy and today’s investment is a reflection of our commitment to the future of manufacturing in Niagara."
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