Woodbridge, a key supplier of automotive foam, will spend C$100 million ($76 million USD) on a modernization project and centralize its global research and development at a facility in Ontario, the company and Canadian government said in a joint announcement Tuesday.
Woodbridge Foam Corp. of Mississauga, Ont., will receive up to C$20 million ($15 million USD) from the federal government’s Strategic Innovation Fund to help pay for the upgrades at facilities in the Ontario towns of Woodbridge and Blenheim. The r&d center will be located in Woodbridge, as well.
Minister of Innovation, Science and Economic Development Navdeep Bains announced the funding Tuesday morning.
The company and government said in a joint news release that the supplier “will modernize two of its plants with state-of-the-art manufacturing facilities and create a Centre of Excellence, where it will centralize its global research and development activities in advanced materials and product design…