Sumitomo lands $3.25M loan for new Ontario plant
$50 million will assemble landing gear and control systems.
TORONTO — Aerospace manufacturer Sumitomo Precision Products (SPP) Canada Aircraft Inc. is getting a $3.25 million loan from the Ontario government for its new Mississauga landing gear plant.
The Japanese company is investing $50 million in the facility, which will assemble aircraft landing gear and landing gear control systems.
The Ontario government says Sumitomo sources about a third of its landing gear components from Ontario suppliers.
“Our new Mississauga facility is ideally located at the heart of Ontario’s concentration of landing gear expertise. From this base, Sumitomo looks forward to offering an expanded suite of products and services to our North American aerospace customers,” said Shinichi Nakamura, president of SPP in a statement.
The province’s aerospace industry employs about 22,000 people, and manufactures 60% of the world’s large commercial landing gear, and about 40% of all commercial landing gear.