Cornwall Company Expands To Gain Competitive Edge
McGuinty Government Strengthens Cornwall Industry
Ontario is working with eastern Ontario business to maintain and create jobs, as well as open up new economic opportunities.
New state-of-the-art equipment will help Cornwall-based Seaway Yarns Limited expand its product line and better service its customers, with a view to being more competitive in the global marketplace. A grant of $315,300 through the Eastern Ontario Development Fund will help purchase the modern equipment required to increase productivity and reduce waste, while creating 10 jobs and upgrading 12 others over five years.
Partnering with business is a key component of the government's five-point economic plan to grow the economy.
- Seaway Yarns Limited is a specialty manufacturer of twisted, air entangled and air texture high-performance yarns. The company currently employs 55 employees.
- In 2007, eastern Ontario's Gross Domestic Product was nearly $66 billion, representing 11 per cent of the provincial total.
“Seaway Yarns is a great company that wants to modernize the way it does business and increase its global competitiveness. This investment will mean more economic activity in eastern Ontario. It's a great example of the success coming out of the region.”
“The Ontario government is prepared to help companies across Ontario, regardless of their size. Seaway Yarns is one among many successful businesses that benefit from the Eastern Ontario Development Fund.”
“We're excited about our equipment upgrade and view it as necessary to remain competitive in a global market. The government grant will help us retain and create jobs, build our product line, and better service our customers' needs.”