STRATFORD, Ont.¡ªThe Canadian wing of German bearing manufacturer Schaeffler Group is launching a $13.1 million expansion project at one of its two plants in Stratford, Ont.
Using private funds, as well as a $1.3 million investment from the province, Schaeffler Canada plans to add two new assembly lines, buy new equipment and invest in automation at its automotive facility in the southwest Ontario city.
Designed to boost its production capacity and improve quality control at the rolling bearings plant, the company expects the project will create 44 new jobs, raising staff levels at its Stratford facility to over 400.
¡°We are excited to continue growing in the province of Ontario. Our investment in additional technology will create new skilled jobs while increasing our capacity and enhancing our production capabilities,¡± Robert Hillstrom, Schaeffler Canada¡¯s CFO, said. ¡°This is in response to a rise in customer demand for our high-quality, innovative solutions for the global automotive industry.¡±
Schaeffler expects to complete the project by 2018.
