Government of Canada Supports Growth of Three Windsor-Area Businesses

WINDSOR, ONTARIO--(Marketwire - Aug. 10, 2012) - Jeff Watson, Member of Parliament for Essex, on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) today announced an investment totaling more than $2 million in three Windsor area businesses. This investment will help launch new innovative products, expand the regional aerospace and manufacturing sectors, create approximately 50 new jobs, and diversify the region's economy.

"Our Government's top priority remains creating high-value jobs, growth and long-term prosperity for Canadians," said MP Watson. "Our investment is supporting the growth and diversification of companies in the Windsor area, a corridor of southern Ontario that has the potential to meet the needs of businesses and residents on both sides of the border."

FedDev Ontario will invest a total of $2,116,250 in the three businesses through the Prosperity Initiative. The investment will allow Technicut Tool to expand into the aerospace supply sector by relocating to a larger, upgraded facility and purchasing new equipment; it will allow Lakeshore Fixture & Gauge to increase its facility size and obtain new equipment so it can expand into the aerospace, medical and appliance manufacturing sectors; and it will allow Contract Glaziers to expand its facility to produce dual wall curtain systems - glass building technologies that are new to North America.

"The financial support from FedDev Ontario has assisted Contract Glaziers in expanding our manufacturing facilities in Windsor and continuing the development of leading edge technologies in the curtain wall industry," said Michael Chlumecky, VP of Operations. "It has and will continue to allow us to hire additional employees from Windsor and the surrounding areas."

"Technicut Tool has successfully diversified out of the automotive sector and plans are in place for further diversification, said Dino Civiero, President of Technicut Tool Inc. "The FedDev Ontario program will allow us to fast track our efforts and lead the way in utilizing the latest in manufacturing technology to compete in the ever-changing global markets."

"The funds received from the Prosperity Initiative through FedDev Ontario have stimulated growth for Lakeshore Fixture & Gauge and positioned us for further opportunities and development," said company President, Scott Mahler.

For more information on these projects and the Prosperity Initiative, please see the backgrounder.

Created in 2009, FedDev Ontario supports the southern Ontario economy by building on the region's strengths and creating opportunities for jobs and economic growth. The Agency has launched a number of initiatives to create a Southern Ontario Advantage and place the region in a strong position to compete in the global economy. These initiatives are designed to encourage partnerships and support projects that help the region's businesses and communities become more competitive, innovative and diversified. To learn more, please visit www.FedDevOntario.gc.ca or call 1-866-593-5505.

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This news release is available online at: www.actionplan.gc.ca.

BACKGROUNDER

Technicut Tool, Lakeshore Fixture & Gauge and Contract Glaziers

FedDev Ontario is investing a total of up to $2,116,250 in repayable contributions to three Windsor-area businesses under the Prosperity Initiative. This investment will contribute to the diversification of the Windsor and area economy.

The three businesses include:

Technicut Tool

Contribution: up to $972,500

Technicut Tool Inc. is a provider of precision machining services that have traditionally accommodated the automotive and oil and gas industries. In 2009, the company was certified to expand its services to the aerospace market. The contribution from FedDev Ontario will help fund building upgrades and the purchase of new equipment that will mean a faster expansion into the aerospace industry by Technicut. The company will expand specifically into the area of aerospace hardware such as landing gear, turbo-prop engines and turbo fans, allowing it to diversify its trade in the growing aerospace market and become more competitive. The project is expected to create 20 new jobs. For more information, visit www.technicuttool.com.

Lakeshore Fixture & Gauge

Contribution: up to $193,750

Established in 1996, Lakeshore Fixture & Gauge (SM Engineering & Design Ltd) has been providing design, manufacture and certification services of various types of fixtures for the automotive industry. FedDev Ontario's contribution has allowed the expansion of Lakeshore's facility by over 2,000 square feet, as well as the addition of new equipment such advanced computerized machinery, a laser engraver and a large coordinate measuring machine. These additions will allow the company branch out into other industries and position itself for further development. The project was completed in March 2012 and has created five new jobs. For more information, visit www.lakeshore-fixtures.com.

Contract Glaziers

Contribution: up to $950,000

Contract Glaziers (Windsor Glass Company) has been in the business of developing and producing high-performance curtain-wall facades and window systems from its Windsor facility for the last 40 years. They service a number of institutional and commercial clients in North America, providing design assistance and manufacturing glass curtain wall systems, and associated products and services. The contribution from FedDev Ontario will help the company expand its manufacturing facility and allow it to develop new technologies such as dual wall curtain systems and photovoltaic (solar to electricity conversion) modules. The project will enable the company to develop new energy-efficient glass technologies and expand its product offerings in the North American market. The project is expected to create up to 30 new jobs. For more information, visit www.contractglaziers.com.

Prosperity Initiative

FedDev Ontario's Prosperity Initiative is designed to encourage businesses, not-for-profit organizations and post-secondary institutions in southern Ontario to undertake projects that will result in a more productive, diversified and competitive economy in the region.

Funding is available for projects that:

• enhance productivity, by accelerating the adoption of new technologies, processes and skills to enhance businesses and sectors in southern Ontario to achieve higher output in relation to their investments;
• diversify the regional economy, by increasing the number of new industries or opportunities in southern Ontario communities or regions with the potential to have long-term impacts on their economic diversity; and
• build a competitive advantage for southern Ontario, by building on the assets and strengths of southern Ontario businesses and regions to create or expand economic clusters and enhance their global competitiveness.

Applications for funding are being accepted and assessed on an ongoing basis. For more information and to apply, please refer to the Program Guidelines available on the website at www.FedDevOntario.gc.ca.