North American Stamping Group (NASG) Canada Inc. has received federal government funding to enable expansion of its Woodstock, Ont. auto parts manufacturing facility. The funding was announced by Dave MacKenzie, Member of Parliament for Oxford, on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev).
“Our Government is committed to supporting the growth of the manufacturing industry,” said MacKenzie. “This investment in NASG Canada Inc. will bring skilled manufacturing jobs back to southern Ontario, create long-term stability for Woodstock, and support an important sector of Canada’s export economy.”
Through FedDev Ontario’s Prosperity Initiative, NASG Canada Inc. is receiving a repayable investment of up to $2,488,875 towards the total project cost of $10.9 million to expand its operations. As part of this expansion, the company will create tool and die manufacturing at its Woodstock facility. This expansion will also establish in-house research and development (R&D) capabilities. The new capacity for R&D will enable NASG Canada Inc. to design and develop components that use lighter weight materials which will improve fuel economy in the automotive sector.
“We are very appreciative of the government’s support of this project, and their understanding of the challenges that the Canadian manufacturing industry faces,” said Fred Gehring, General Manager, NASG Canada. “The decision to expand our Canadian operation, with the addition of our tool & die business unit, is a direct reflection of the confidence we have in our associates. Our team has and will continue to develop by working together to overcome any challenges we face. This has been demonstrated by the confidence our customers have in us and the support of our board of directors for this, our seventh expansion in the last 28 years at our Woodstock location.”
