October 10, 2014 – Scarborough, Ontario – Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
Celplast will bring to market a proprietary manufacturing process thanks to an investment of up to $2.075 million announced today by Minister of State for FedDev Ontario Gary Goodyear and Member of Parliament for Scarborough Centre, Roxanne James.
The funding will be used to purchase a new metallizer machine and have it customized to include their proprietary and unique in-vacuum coating technology. This technology will allow Celplast to create a lower-cost film with better barrier properties for immediate applications in the food packaging and industrial markets. The project is expected to create 11 new full-time skilled positions and maintain six existing positions.
The FedDev Ontario repayable contribution is through the Investing in Business Growth and Productivity initiative, which is aimed at helping established businesses to expand their operations, invest in productivity improvements and compete globally.
"The machine Celplast will be purchasing with FedDev Ontario's support will be able to produce unique, high-value films for global food packaging and industrial markets. We intend to use this first-of-its-kind, patented technology as a platform to develop new materials and expand into new product lines as well. This will allow us to increase the number of highly educated, self-directed employees we have at Celplast, and allows us to grow our business while continuing with a management buy-out from the company's founders, ensuring Celplast remains a 100 percent Canadian employee-owned business for many years to come."
– Dante Ferrari, President, Celplast
Erica Furtado
Director of Communications
Office of the Honourable Gary Goodyear
613-943-7599
Media Relations
FedDev Ontario
416-954-6652
FedDevMedia@FedDevOntario.gc.ca
Toll Free: 1-866-593-5505
Website: www.FedDevOntario.gc.ca
Subscribe to our news updates and follow us on Twitter @FedDevOntario
