Polycorp is receiving provincial funding to help support a 17-million dollar expansion of its manufacturing facility on York Street in Elora.
The 2.5 million dollar investment, from Ontario’s “Jobs and Prosperity Fund”, will help the company purchase new equipment and create a testing laboratory.
The expansion is expected to create 26-new jobs and retain 146-positions. Polycorp CEO, Peter Snucins says the funding will help expand their intellectual property, add capacity, and make the company more competitive.
The company is a leading Canadian designer and manufacturer of engineered rubber products for a wide variety of industrial uses, serving customers in 38 countries.