The federal government has announced a $4 million investment into a family-run manufacturer in St. Catharines to boost the electric vehicle and semiconductor supply chain in Ontario.
Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario, was in the city for the announcement on Wednesday along with St. Catharine’s MP Chris Bittle and Niagara Centre MP Vance Badawey.
The investment is being directed to FBT Inc, a family-owned manufacturer of precision machine components and parts used in critical sectors such as automotive, electric vehicles, semi-conductor and power generation among others.
FBT says the money will go towards facility upgrades to meet growing demands, create 40 skilled jobs and support domestic manufacturing capacity for the province’s electric vehicle manufacturers.
Advancements will include adopting new robotic and automated solutions to create brand new processes to increase machine components and parts production by 75 per cent.
President of FBT Rob Forstinger says the company has long embraced innovation as a core value and remains committed to fostering positive and mutually beneficial partnership opportunities through this investment.