Foam technology supplier, Woodbridge is ploughing up to C$100m (US$77m) in two manufacturing sites in Ontario, Canada.
The announcement is part of Canadian government’s contribution of up to C$20m through the Strategic Innovation Fund (SIF) to grow the country’s economy.
The investment will permit Woodbridge to modernise the sites in Ontario, creating more than 100 jobs and maintaining 700 additional posts.
Woodbridge will also establish a Centre of Excellence where it will centralise its global research and development activities in advanced materials and product design of moulded 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 manufacturing capabilities and accelerating innovation in our technology advantage,” said Woodbridge president & CEO, Charles Daly.
“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.”