MP Pam Damoff celebrated the expansion of Components Options Inc. and it is contributions to Ontario’s aerospace sector
Pam Damoff, MP for Oakville, North-Burlington, visited Components Options Inc. (FSI) this morning (Sept. 27) to have fun how $1.7 million funding from the federal authorities has helped to develop the corporate.
FSI is a globally acknowledged manufacturing firm that creates composite materials for aerospace tasks, reminiscent of passenger planes. The corporate was based in 2018 and has grown shortly because of the unique funding.
Components Resolution Inc. obtained $1.7 million in funding from FedDev Ontario in 2018. Calum O’Malley
“Formula Solutions is an excellent example of the innovation that takes place in this region,” Damoff mentioned. “Through strategic investments, we are supporting businesses like Formula Solutions, growing and strengthening our aerospace industry, while also contributing to a more resilient future for our manufacturing sector.”
Damoff attended the celebration on behalf of Filomena Tassi, the Minister chargeable for the Federal Financial Improvement Company for Southern Ontario (FedDev Ontario), who offered the funding to FSI.
Damoff toured the ability to see how the corporate has grown within the final six years earlier than talking on the function Ontario performs within the international aerospace trade.
“The work being done here supports critical and complex component manufacturing for the aerospace market,” Damoff mentioned. “Ontario is no stranger to the aerospace industry. Our manufacturers are a vital part of the global supply chain for virtually every passenger aircraft in the world, and the industry employs tens of thousands of people.”
Greater than 45,000 folks in Ontario are at the moment employed within the aerospace sector, which brings in round $6.5 billion yearly.
FedDev Ontario has invested greater than $885 million throughout 415 manufacturing tasks like FSI since 2015.
“We appreciate the exceptional support provided by FedDev Ontario to FSI to further advance our innovative aerospace manufacturing technology,” James Peters, CEO of FSI, mentioned. “The funding received through this program has helped to establish FSI as a world-class advanced composites supplier in the commercial aerospace sector and provide a platform for future growth and technological advancement.”
