Government of Canada invests in transformer manufacturer

The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) has invested in nearly $4 million in Rex Power Magnetics.

“We are very pleased to embark on our expansion plan, with the help of FedDev Ontario, which includes new space, new equipment, facility improvements, and plenty of hiring,” said Simon Hasserjian, president, Rex Power Magnetics. “These updates will allow Rex to better support Canada’s transition to a renewable power infrastructure and greener future for everyone.”

Rex Power will now add a new transformer production cell at its current 145,000-square-foot facility in Concord, Ont., and create a new production line at its new facility in Etobicoke, Ont. The company hopes to increase sales, create 35 jobs, and improve lead times.

“Today’s investment reassures our federal government’s commitment to help grow and expand Canada’s thriving manufacturing sector,” said Francesco Sorbara, Member of Parliament for Vaughan–Woodbridge. “This nearly $4 million enables this Vaughan manufacturer to stay competitive, increase its production of green, energy-efficient products, and help create and maintain 320 good jobs across the region.”

Rex Power is a family-owned transformer design and manufacturing company used in the generation, storage, and transmission of electricity for schools, homes, hospitals, and businesses.