Concours Mold Inc. is expanding mold-making capacity and upgrading its technology in a C$14.6 million (US$14.1 million) project.
The Lakeshore, Ontario, firm expects to reduce the time and cost to design and make a mold by 20 percent. The five-year project is aided by a C$2.7 million (US$2.6 million) loan from the Ontario government under the Advanced Manufacturing Investment Strategy.
Concours expects to create 70 new jobs and support 180 existing positions through the expansion. The program involves building a world-class mold shop and equipping it with modern computer-controlled machinery and testing capabilities.
“The new technology will help us to better serve our customers and reduce our costs, making us more competitive and supporting future growth,” said Concours President Mark Goggin in a news release issued by the Ontario government.
Most of Concour's sales are to injection molders supplying automotive original equipment manufacturers. It runs a small mold shop in Cullman, Ala., an auxiliary plant in Mexico and it has sales offices in China and Germany.
“Ontario's auto industry and manufacturing sector depends on a strong tool, die and mold sector,” stated Ontario Minister of Economic Development and Trade Sandra Pupatello. “Through investing in advanced technology, innovative Ontario companies like Concours Mold can compete against lower-cost jurisdictions around the globe.”
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