Canadian mold makers get $100K boost to improve business plans
30 mold making companies to benefit from fund
The Canadian Association of Mold Makers (CAMM) has received $100,000 from Ontario's Rural Economic Development Program to help grow its businesses.
The money will be used to help 30 companies fine tune their business plans and marketing strategies.
The president of the mold makers association said the funds could result in companies doubling their market share.
"We currently employ 11,000 employees across Canada. We are only 1.5 per cent of the world's molds, " explained Jonathon Azzopardi, who is also president of Laval International Inc.
"If we can just push that to three we will have doubled that staff," he added. "With a five-time multiple we are looking at maybe 50,000 employees."
The announcement was made at Crest Mold Technology Inc. in Oldcastle, Ont. Tuesday morning.
"It's the dawn of a new era for this region," said Ed Bernard, head of research and development for Crest.
The mold makers will use the services of a Michigan consulting firm, which has expertise in the automotive industry, to take on improvements.
"It's our company's mission to help small to medium manufacturers in North America increase their competitiveness," said Laurie Harbour, president and CEO of Harbour Results Inc. of Southfield, Michigan.
The money is only open to county companies because the funding comes from the Ontario Ministry of Agriculture, Food and Rural Affairs.
CAMM collaborated with the Windsor-Essex Economic Development Corp. to obtain the funding.
Dale Molnar CBC News