A tool and die shop in Oldcastle is investing 2.84 million in an expansion that aims to create new jobs and stay competitive in the automotive tooling sector.
As part of this investment, the Ontario government is providing Glider Guard Tool & Die Inc. $246,077.00 in funding through the Regional Development Program’s Southwest Ontario Regional Development program.
The project is expected to create seven jobs and retain 88 others.
Glider Guard Tool and Die Inc. is investing the money in a 4000 sq ft. expansion and a new high speed 5 axis milling machine that is paired with computer aided manufacturing software.
This expansion and equipment aims to increase the company’s production capacity, while reducing manufacturing costs and increasing productivity. Seven new jobs will be created through this project.
“The expansion that this funding has been allocated to will allow us to stay competitive in the automotive tooling sector,” said Brenn Cox, engineering manager of Glider Guard Tool and Die.
With the highly competitive nature of our industry, it is imperative that we continue to invest in the latest equipment available to build some of the best tools in the world.
Ontario and Windsor-Essex is home to one of the highest concentrations of tool, mould and die shops in the world.
We pride ourselves in the quality and skill that goes into our tools and funding opportunities like the provinces Regional Development Program allow us to invest in our operations and employees, while staying competitive on a global scale,” said Cox.
Ontario is investing more than $140 million through the Regional Development Program.
“Our government is building a strong Ontario and strengthening the economy by supporting key investments in communities like Windsor-Tecumseh,” said Windsor-Tecumseh MPP Andrew Dowie. “Glider Guard Tool & Die’s investment will grow local manufacturing and create good-paying jobs for workers and families in Windsor-Essex.”
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
