Canadian government contributes up to $20 million through the Strategic Innovation Fund
MISSISSAUGA, Ontario, Canada, July 9, 2019 –Woodbridge, a global leader of foam technology specializing in fully-integrated systems and solutions, is investing up to $100 million Canadian for creating and promoting innovation in Ontario, Canada. Today’s announcement is part of the Government of Canada’s contribution of up to $20 million Canadian through the Strategic Innovation Fund (SIF) to grow the country’s economy.
The investment will permit Woodbridge to modernize two manufacturing sites in Ontario, creating more than 100 jobs and maintaining over 700 additional jobs. The company will also establish a Center of Excellence, where it will invest and centralize its global research and development activities in advanced materials and product design of molded foam products. This will allow for more intellectual property to be developed and retained in Canada and expand the company’s collaboration with high schools and post-secondary institutions.
“With the support of the Canadian government, this significant investment will result in world-class manufacturing capabilities and accelerating innovation in our technology advantage,” said Charles Daly, president & CEO, Woodbridge. “We view this as an investment in our global competitiveness, supporting our purpose to create and sustain rewarding jobs, as we prepare for the future of the global automotive industry.”
The contribution is made through the SIF, a program designed to attract and support high-quality business investments in Canada’s most dynamic and innovative sectors. To learn more, go to https://www.ic.gc.ca/eic/site/125.nsf/eng/home.
About Woodbridge
Woodbridge is a privately-owned company offering innovative material technologies for applications in automotive, commercial, recreational, packaging, healthcare and building products. In addition to its manufacturing operations, Woodbridge offers a full complement of services including: chemical research and development, product and process engineering, tooling, technical support and accredited laboratory testing. Woodbridge operates more than 50 facilities across 10 countries—employing over 7,500 teammates and serving more than 600 customers worldwide. To learn more, visit woodbridgegroup.com.
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