Ontario is partnering with Nova Steel in an investment that will create 20 new jobs and retain 47 positions in Woodstock.
WOODSTOCK - The Province of Ontario is partnering with Nova Steel Inc. in an investment that will create 20 new jobs and retain 47 positions in Woodstock.
Ontario is investing $602,100 from the Southwestern Ontario Development Fund for new equipment and the expansion of the production facilities at Nova Steel Inc. They are providing additional support to Nova Steel who has invested $5.4 million dollars in the project. The total value of the expansion is $6,021,000 and the work should be completed by December 2020.
MPP for Guelph and President of the Treasury Board made the announcement on Friday on behalf of Jeff Leal, Minister Responsible for Small Business. Leal says this is a great investment for the company and the Province.
"Today's announcement is an excellent example of what can be accomplished when industry and government work together, creating good jobs and boosting Ontario's manufacturing sector. Our partnership with Nova Steel through the Southwestern Ontario Development Fund is helping them invest in new technology and grow their business, a key priority of our government."
Nova Steel Inc. is a leading manufacturer in the North American steel industry. The company makes a variety of steel products such as tubes, pipes and flat roll products. President Rick Roest says they are very happy with this partnership.
"Here at Nova Steel, we've built a highly skilled and dedicated team to become a leader in steel tube manufacturing and the production of tubular parts. We are pleased to partner with the Ontario government as this investment supports the continued growth and continuous improvement initiatives of our company."