FedDev Ontario investment of nearly $4 million to enhance production of leading transformer manufacturing company and create 35 jobs
As a key part of Canada's economic recovery, the Government of Canada is investing in local businesses and entrepreneurs to ensure they have the tools they need to succeed now and in the future. This includes supporting businesses that are greening and growing their operations to make a cleaner future for Canadians.
Today, Francesco Sorbara, Member of Parliament for Vaughan-Woodbridge, on behalf of the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced an investment of nearly $4 million for Rex Power Magnetics, a family-owned transformer design and manufacturing company used in the generation, storage, and transmission of electricity for schools, homes, hospitals, businesses, and more.
Through this investment, Rex Power will add a new transformer production cell at its current 145,000-square-foot facility in Concord, and create a new production line at its new facility in Etobicoke. As a result, the company will double sales, create 35 jobs, and improve lead times to provide high-quality, made-in-Canada transformers to local Ontario suppliers. This expansion is also expected to help address supply chain shortages experienced by North American energy companies as the demand for green solutions grow.
The company's innovative production processes and energy-efficient transformers will continue to play a role in the reduction of greenhouse gas emissions as well as increase the supply of transformers for renewable energy infrastructure applications in wind, solar and battery. The Government of Canada is proud to support organizations that align with our commitment to transition to a green and resilient economy.
Today's investment supports a stronger more resilient manufacturing sector that will help contribute to a greener future for Canadians.
