FedDev Ontario supports specialty steel manufacturer in Welland
Government of Canada invests $5 million for local company to seize new opportunities, maintain over 110 jobs and create 15 more in Niagara Region
March 16, 2021 — Welland, Ontario
Advanced manufacturing is a pillar of Canada’s economy, delivering products to domestic and international markets while creating good jobs locally. As technology transforms manufacturing, southern Ontario companies are adopting innovative processes to become more productive, competitive and resilient for the future. The Government of Canada’s support for these companies will promote regional innovation, strengthen local supply chains, and create good local jobs.
Today, the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedDev Ontario, announced a FedDev Ontario repayable contribution of up to $5 million for Valbruna ASW Inc. in Welland, to support its expansion to reach new markets in Canada and abroad, while maintaining and creating quality jobs in the Niagara Region.
Valbruna ASW Inc. is Canada’s only specialty steel producer, unique in its ability to refine high-quality stainless steels, and a significant employer in the Niagara Region’s prominent manufacturing sector. The company produces a combination of carbon, stainless and other specialty steel materials for application in numerous sectors including automotive, medical, aerospace, defence and energy.
By adopting new technologies, Valbruna ASW Inc. will become Canada’s only steelmaker with the capability to produce stainless steel and nickel alloy, with improved machinability and heat and corrosion durability. As a result, Valbruna ASW Inc. will be able to increase its capacity to serve the U.S. market and increase domestic manufacturing.
This project will leverage over $24 million in private and other investment, maintaining over 110 jobs and creating 15 more jobs in Welland to strengthen Niagara Region’s economy. With Government of Canada support, Valbruna ASW Inc. expects to double its local supplier purchases, resulting in a significant increase in domestic supply chain spending in regions like Hamilton, Niagara and Toronto.
“Through this FedDev Ontario investment, we will not only maintain over 110 jobs for the manufacturing industry, but we will support the creation of 15 more to ensure that our manufacturers not just survive in the new economy, but thrive. We are working to help businesses as they build back stronger and will continue to take steps so that Canadians are part of an economy that leaves no one behind.”
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for the Federal Economic Development Agency for Southern Ontario
“This is an important announcement for Valbruna ASW and the City of Welland. It contributes to Valbruna ASW’s business plan to expand its workforce by 15 percent, resulting from new capital investments which these funds will contribute to. It also contributes to strengthening Valbruna ASW’s presence within domestic and international supply chains. The pandemic has been challenging across all communities and sectors of the economy. By supporting manufacturers like Valbruna ASW who contribute to Niagara’s regional employment and supply chain spending, through this investment and others such as the wage subsidy program, our government is taking the necessary steps forward to help our communities and our businesses adapt and stay resilient both now and in the future."
- Vance Badawey, Member of Parliament for Niagara Centre
“Investments like today’s announcement at Valbruna ASW demonstrates how important local manufacturing is to our government. By helping the company grow and reach new markets, we are supporting over 110 existing jobs in our community and creating 15 new good paying jobs in Niagara. Manufacturing is an essential part of our local economy and today’s investment is a reflection of our commitment to the future of manufacturing in Niagara."
- Chris Bittle, Member of Parliament for St. Catharines
“This investment is strategic to the future of Valbruna ASW, our current and future employees, our customers and suppliers. As Canada’s only specialty steel producer, uniquely capable of refining high-quality stainless steels, we are grateful for the support and recognition of the federal government through FedDev Ontario and are excited to undertake this project, which will improve our efficiency and productivity as well as reduce our environmental footprint.”
- Tim Clutterbuck, President, Valbruna ASW Inc.
Valbruna ASW is a subsidiary of Italian-based Acciaierie Valbruna S.p.A., of Vicenza, Italy, and Canada’s only specialty steel producer, uniquely capable of refining high-quality stainless steels, capturing an estimated 10 percent of the associated market share in North America.
Advanced manufacturing has contributed to a large share of job creation, accounting for half of the approximately 45,000 factory jobs created in Ontario since 2010.
Since November 2015, FedDev Ontario has invested over $555 million in 322 manufacturing projects across southern Ontario.
Since November 2015, FedDev Ontario has invested over $71 million in 89 projects across the Niagara Region.
Press Secretary, Office of the Minister of Economic Development and Official Languages
Toll Free: 1-866-593-5505
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