BELLEVILLE, ONTARIO--(Marketwired - July 27, 2015) - Federal Economic Development Agency for Southern Ontario
(FedDev Ontario)
Today, the Honourable Gary Goodyear, Minister for the Federal Economic Development Agency for Southern Ontario, along with Daryl Kramp, Member of Parliament for Prince Edward−Hastings, announced an investment of up to $2.175 million for Halla Visteon Climate Control Canada Inc. (Halla Visteon Canada) to launch a new line of thermal engine control parts.
Halla Visteon Canada, a subsidiary of global auto parts supplier Halla Visteon Climate Control, manufactures parts for automotive climate control systems. The company is adopting new technologies and manufacturing processes for one of its Belleville plants where electronic throttle bodies and electronic coolant valves will be produced. These parts are elements of the company's expanded product offering into the thermal and emissions segment of the automotive industry.
The adoption of new advanced technologies has allowed Halla Visteon to reverse its decision to close an underutilized Belleville plant. The company will diversify its climate control products and will be better equipped to respond to the automotive industry demand for new technologies and innovations that improve the fuel efficiency of vehicles.
The repayable contribution is through FedDev Ontario's Investing in Business Growth and Productivity initiative, which is aimed at helping established businesses to expand their operations, invest in productivity improvements and compete globally.
Quick Facts
Quotes
"Today's announcement speaks to our Government's commitment to supporting quality manufacturers and strengthening the automotive parts industry in Ontario. This investment will allow Halla Visteon Canada to adapt and meet the future needs of the automotive industry, which will pave the way to economic growth."
"This funding will help an automotive parts manufacturer build on and enhance its product offerings, but also strengthen its connection to the community. The reversal of the decision to close one of the Belleville plants is a great sign for this community and Halla Visteon Canada's future. I believe in supporting business as they are the backbone of our economy."
"The funding announced today from FedDev is an integral part of HVCC's efforts to revitalize our operations in Belleville. This support is allowing us to diversify our product offering in the thermal management segment of the auto industry which opens up more opportunities for growth."
Related Products
Associated Links
Investing in Business Growth and Productivity initiative
Halla Visteon Climate Control Canada Inc.
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