Province partners with Kromet International for multi-million dollar investment

A big boost for local manufacturer Kromet International.

Cambridge MPP Kathryn McGarry says Kromet is investing $5.3-million to upgrade their facility with new technology and machinery.

“It’s a very exciting day for Kromet. They’ve decided to upgrade their facility with new technology and new machinery, and are investing $5.3-million. The Southwestern Ontario Development Fund is providing a grant of $800,400 in order to support their investment which will retain 134 jobs and create 50 new jobs in the very near future.”

McGarry says it’s very exciting when these types of announcements are made in our area.

“First and foremost, Cambridge has a very robust manufacturing sector and we’ve actually grown by four per cent in the last  2-3 years. In order to support a company like Kromet in Cambridge, we not only have to retain those jobs locally but also see that money leveraged to assist other companies. For instance, Kromet has a facility in Hamilton who gets the downstream benefits of the total investment that we’re doing in Cambridge. All of this allows Kromet to look for new markets and expand their product development and product line.”

McGarry says Kromet has already received some new equipment, but the upgrades will not be complete until 2020.

“Over the next four years, the project will be completed. They’ve already received some new equipment, and I understand the jobs will be added over the next four years. They are hoping to be able to add even more as the market expands.”

You can learn more about Kromet International by clicking here.

Top Stories

Top Stories

Most Watched Today