FedDev Ontario invests in Valbruna ASW Inc.
FedDev Ontario invests $5 million for Valbruna ASW Inc. in Welland to expand and reach new markets in Canada and abroad, and to create jobs in the Niagara Region.
Valbruna ASW Inc. produces a combination of carbon, stainless and other steel materials for application in several sectors including automotive, medical, aerospace, defence and energy.
“We are working to help businesses as they build back stronger and will continue to take steps so that Canadians are part of an economy that leaves no one behind.” said Mélanie Joly, Minister, Economic Development and Official Languages.
This project will leverage over $24 million in private and other investment, maintaining over 110 jobs and creating 15 jobs in Welland. Valbruna ASW Inc. expects to double its local supplier purchases, resulting in an increase in domestic supply chain spending in regions like Hamilton, Niagara and Toronto.
“This investment is strategic to the future of Valbruna ASW, our current and future employees, our customers and suppliers,” Tim Clutterbuck, President, Valbruna ASW Inc. “As Canada’s only specialty steel producer, uniquely capable of refining high quality stainless steels, we are grateful for the support and recognition of the federal government through FedDev Ontario and are excited to undertake this project, which will improve our efficiency and productivity as well as reduce our environmental footprint.”