Government of Canada invests in leading auto-parts manufacturer

The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) announced a $5-million investment for ArcelorMittal Tailored Blanks Americas Limited (AMTB), a steel manufacturer of lightweight auto parts, whose steel is used in cars, electric vehicles (EV), appliances and buildings.

“Canadian manufacturers are reaching their potential as they support Canada’s transition to a net-zero economy,” said The Honourable Filomena Tassi, Minister responsible for FedDev Ontario. “Today, our government is investing in ArcelorMittal Tailored Blanks Americas Limited as it transitions its Concord facility to support a cleaner, more fuel-efficient future for the automotive sector while creating 65 good, skilled jobs. As we shift to a carbon-neutral economy, we are supporting sustainable manufacturing facilities that will be at the forefront of the industry.”

With this investment, AMTB will modernize its equipment and technologies to fully transition its Concord facility from producing fuel-powered vehicle components to 100 per cent EV components for the automotive industry. This will support the company as they collaborate with EV OEMs. The project will also create 65 new jobs in Concord.

“Our company is grateful for this government funding, which allows us to expand our production of innovative new products for electric vehicles,” said Todd Baker, president and CEO, AMTB. “This funding directly supports our investment in industry-leading manufacturing equipment, brings new jobs to the area, and marks an exciting step forward in our commitment to help drive a safer and greener tomorrow.”