Cash supports Rector Machine Works expansion, equipment upgrades
Tuesday, June 19, 2012 by: Carol Martin
Rector Machine Works Ltd. has received $738,200 from the Northern Ontario Heritage Fund Corporation (NOHFC) for new facility expansion and equipment.
A $369,100 loan and a $369,100 grant support an overall $1.4-million expenditure.
A 5,000-square-foot fabrication addition has been made to Rector's existing 10,000-square-foot building for manufacturing and fabrication activities in the mining and steel sectors.
Equipment upgrades include a CNC Plasma Cutting Machine used for specialty work, such as precision custom cutting.
"The provincial government’s NOHFC funding program created an opportunity and supplied the initiative for our business to expand its infrastructure and upgrade its heavy equipment so that we can compete for contracts that have been going to southern Ontario,” said Herv Rector of Rector Machine Works. “The NOHFC is important for businesses of all sizes in Northern Ontario and we are pleased to have been approved for a program that will have economic benefits for our community and the Algoma region.”
“We are providing provincial funding to Rector Machine Works through the NOHFC to support the expansion of a local business that is making major improvements to their facilities as well as upgrades to their equipment in order to increase competitiveness, create local jobs and reduce outsourcing to southern Ontario,” said Sault MPP David Orazietti in a news release.
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berts 6/19/2012 1:34:55 PM ReportIts nice to see a reperitable company receiveing the funds, this time. Way to go and good job to Herv and staff!! Dave O.? Glad you didn't just hand over more money to be wasted by Tony Porco!!!!
MR40 6/19/2012 1:38:12 PM Reportit is nice to see. but if they are that bizzy and in need of more equipment and floor space, why do they need help from them. they should be able to fund it themself..like the old saying goes, the big get bigger and the small get smaller.
Dictionary 6/19/2012 1:43:43 PM ReportGood for them. The Rector's are a very nice clan and I had nothing but positive in my dealings with them.
geterdun 6/20/2012 4:46:23 PM Report$360,000 would have created a lot of jobs for the youth in this community....lets say 360 youth making 10,000 each for the summer.....but hey glad to see the rich are getting my tax payers money to expand their bussiness and make a few rich people richer.....this is a joke to say the least they must be friends with David O or have donated to liberal coffers at some point.......The Rich get Richer and the youth and poor get squat!!!!!!!! another Liberal gift to their friends.......
