Cam Tran To Expand Product Line
McGuinty Government Helps Business Access New Markets, Creates Jobs
Ontario is helping an eastern Ontario company that manufactures and refurbishes transformers expand its product line to target new markets and create jobs.
The province is helping Cam Tran Co. Ltd. install new equipment to enable production of higher capacity transformers. The retrofitted equipment will allow Cam Tran to expand its product line and tap into markets that require higher capacity transformers, increasing their customer base. The new equipment is also going to improve the company's recycling techniques and reduce their carbon footprint.
The provincial investment of $119,625 is contributing to the creation of 10 new jobs and is part of a total investment by the company of $797,500. Partnering with business is a key component of the Ontario government's five-point economic plan to grow the economy.
- Cam Tran is a family owned business that manufactures, recycles and repairs transformers used by electrical utilities and contractors.
- To date, the Eastern Ontario Development Fund has committed over $14.8 million to 37 announced projects representing a total project investment of $98 million and the creation of 443 new jobs.
- In 2008, eastern Ontario's gross domestic product was approximately $66 billion, representing 12 per cent of the provincial total.
“The McGuinty government is partnering with Ontario manufacturers to help them improve their competitive edge and make them stronger in the new global economy. Ontario remains committed to working with the business community to create jobs for eastern Ontario families, and we are very proud to support their latest investment.”
“The investment from the Ontario government will enable our company to produce a full range of distribution class as well as small power class transformers, vastly increasing capabilities from what we are currently able to produce. This is going to make us much more efficient and competitive.”