A $5 million manufacturing investment has been made in Macrodyne Technologies.

The Ontario government is pleased to announce a $5 million investment by Macrodyne Technologies Inc., North America’s leading manufacturer of hydraulic presses and automation systems, which are used by manufacturers to shape and mould materials such as metal, plastic, rubber, and wood. This investment will be utilised to buy manufacturing technologies for the company’s Vaughan facilities, as well as to hire 25 new machine builders, electricians, hydraulic technicians, and engineers. “By lowering taxes, cutting red tape, and investing in skilled labour, our government is fostering private sector growth, which is assisting in the creation of good-paying jobs across the region,” said Stephen Lecce, Member of Provincial Parliament for King — Vaughan. “We are proud of Macrodyne Technologies’ expansion because it supports local economic growth in Vaughan.”

“Thanks to companies like Macrodyne Technologies, more than 700,000 jobs have been added to Ontario’s workforce since 2018,” stated Vic Fedeli, Minister of Economic Development, Job Creation, and Trade. “Our government is proud to assist Ontario manufacturers in expanding and creating more good-paying jobs through our Regional Development Programme.” Thank you for continuing to innovate and invest in Ontario, Macrodyne Technologies.”Macrodyne Technologies’ $5 million investment will be used to purchase technologies to extend its product line and add more automation and AI solutions. This new technology will enable the corporation to double output in order to fulfil demand from industries such as steel and aluminium, automotive, aerospace, and pulp and paper.

The government is allocating $750,000 to Macrodyne Technologies as part of this investment through the Advanced Manufacturing and Innovation Competitiveness (AMIC) stream of its Regional Development Programme. “Our consistent growth and innovation are driven by the extensive group of long-term customers who continue to purchase Macrodyne hydraulic presses, press lines, automation, and die handling equipment on a repeat basis,” stated Kevin Fernandes, President of Macrodyne Technologies. “We are grateful to the Premier, Minister, and the Ontario government for their support in creating and bringing world-class manufacturing technology to Canada, as well as improving employee skill sets.”

 

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