Woodbridge, a key supplier of automotive foam, will spend $100-million on a modernization project and centralize its global research and development at a facility in Ontario, the company and Canadian government said in a joint announcement Tuesday.
Woodbridge Foam Corp. of Mississauga, Ont., will receive up to $20 million from the federal government’s Strategic Innovation Fund to help pay for the upgrades at facilities in the Ontario towns of Woodbridge and Blenheim. The r&d centre will be located in Woodbridge, as well.
Minister of Innovation, Science and Economic Development Navdeep Bains announced the funding Tuesday morning.
The company and government said in a joint news release that the supplier “will modernize two of its plants with state-of-the-art manufacturing facilities and create a Centre of Excellence, where it will centralize its global research and development activities in advanced materials and product design of molded foam products, such as car seats and armrests.”
Woodbridge says the investments will help the company better meet market demand for products and secure new business.
The upgrades and r&d centre will create 110 jobs and maintain 727.
“This significant investment will result in world-class manufacturing capabilities and accelerated innovation in our technology advantage,” Woodbridge CEO Charles Daly said in a statement. “We view this as an investment in our global competitiveness…as we prepare for the future of a rapidly changing global automotive marketplace.”
Woodbridge Foam Corp. started with a single Canadian plant in 1978. It now operates 67 facilities around the world. The company specializes in the manufacturing of foam polymers and molding for the auto industry. While its corporate headquarters are in Mississauga, its automotive headquarters are in Troy, Mich.