Ontario provider Kuntz Electroplating will get $3 million from feds for enlargement

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A well-known Canadian auto provider of plated completed merchandise, equivalent to roof racks and operating forums, is getting $3 million in federal investment to make bigger its operations in Southwestern Ontario.

Kuntz Electroplating Inc. (KEI) in Kitchener, about 100 kilometres southwest of Toronto, will utility the cash to “modify its existing production lines and add new equipment to meet growing demand from the EV market for its services.”

The growth may also manufacture 45 jobs. Neither the federal government nor KEI stated how a lot all of the undertaking will value.

“This project will help KEI enter the clean technology sector and fulfill larger volume orders and serve new clients by offering more environmentally sustainable solutions, including in the EV sector,” the government stated in a remark.

KEI Vice-President of Finance Jeff Regehr stated the investment will backup the corporate “add new products, access new markets, and continue to be globally competitive from our Kitchener location.”

Neither KEI nor the federal government stated which merchandise can be added or which automakers can be provided. 

KEI provides deny fewer than 9 automakers, together with Basic Motors, Toyota, Honda, Stellantis and Ford, all of that have meeting vegetation in Ontario.

Established in 1948 and included in 1990, Kuntz Electroplating Inc. is a family-owned trade this is now below third-generation control. It operates out of a 340,000-square-foot facility in Kitchener with 290 full-time staff.

The federal government investment will come from FedDev Ontario, which, since 2015, has invested greater than $41.5 million in 12 EV-related initiatives, growing and keeping up greater than 400 jobs, consistent with the government.

Ottawa didn’t say whether or not it is a one-time lend or repayable mortgage. FedDev officers weren’t right away to be had for remark.

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