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Oro-Medonte company lands $2.9M in funding for expansion plans

Cash will be used to expand Molded Precision Components' production facility by 45,000 square feet, purchase new systems
MPC Company Photo 2
Supplied photo

NEWS RELEASE
FEDDEV ONTARIO
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As nations around the world celebrate World Youth Skills Day, the Government of Canada recognizes that the future of southern Ontario’s economy relies on the talent and skills of our young people.

With that same recognition, Oro-Medonte-based Molded Precision Components (MPC) is supporting youth employment and skills development as it harnesses innovative technologies to aid Canada’s fight against COVID-19. MPC has a strong collaborative partnership with Georgian College through various R&D, design and engineering projects, and sits on the college’s advisory boards to support program development.

Leveraging this strong partnership, MPC employs 65 co-op students, as well as other youth, visible minorities and newcomers as part of its commitment to diversity. MPC offers internships, co-ops, apprenticeships and training programs to support these workers to develop technical skills that position them for meaningful skilled employment.

Today, the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced a FedDev Ontario contribution of up to $2.9 million for Molded Precision Components to support the company’s expanded use of its transformative Cube Injection Molding System (CIMS) technology.

This funding will be used to expand MPC’s production facility by 45,000 sq. ft. and to purchase three Cube-Injection Molding Systems over the next four years. This new technology produces complex molded parts for the medical and automotive industries twice as fast as traditional methods.

Pivoting to support COVID-19 relief efforts

When the COVID-19 global pandemic struck in March 2020, orders from the automotive sector essentially stopped for MPC. However, MPC saw this as an opportunity to collaborate with leading medical equipment contract manufacturer Sterling Industries and pivot its operations to produce much-needed personal protective equipment.

MPC was able to combine its new CIMS technology, developed in collaboration with Niigon Machines Ltd., with Sterling’s engineering expertise to produce Health Canada-approved Shield-U protective face shields. Today, MPC has pivoted its operations to include manufacturing of over 27 million medical face shields for the protection of health-care workers in Canada and abroad. With this shift, MPC has been able to keep its team of 55 people employed, while adding 40 permanent and 65 student positions since March.

Global growth, local impact

MPC is planning to increase its production capacity of face shields to 450,000 per day. Through its new CIMS technology, MPC will be able to achieve more cost-efficient production of face shields in the future. MPC also expects that its strong collaborative relationships within southern Ontario, including with 12 local businesses, will strengthen the local supply chain, laying the foundation for further growth. The company is committed to supporting local jobs and youth employment in Oro-Medonte, especially in the areas of science, technology, engineering and math.

Quotes

“We are very proud of Canadian companies like Molded Precision Components that are answering the call to action to provide critical support to our country during this fight against COVID-19, all while supporting youth employment and creating skilled jobs in our communities. On World Youth Skills Day, I am pleased to announce our support for this company that is committed to helping youth in their community succeed.”

-       The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for the Federal Economic Development Agency for Southern Ontario

“Strong businesses in rural communities like Oro-Medonte are vital to regional economies, and to the success of our young people. With MPC’s expansion, its contribution to the fight against COVID-19 and its ability to mobilize the community through collaboration, it is a clear example of why investments like this are so important for the local community, the region, and Canada as a nation. As our businesses work to recover, FedDev Ontario is working closely with communities and companies to restore key sectors that require additional support.”

-        Kate Young, Parliamentary Secretary to the Minister of Economic Development and Official Languages

“Collaboration has and will continue to be absolutely essential in the future success of MPC and Canada’s businesses as a whole. FedDev Ontario has been and continues to be one of our key collaborators.”

-       David Yeaman, President, Owner, CEO, Molded Precision Components

Quick Facts

  • Since 2006, when David Yeaman and Thomas Woegerer purchased the assets of MPC, the company has grown from a small plastic injection molding prototype shop with two employees in an 8,000 sq. ft. facility to 26,000 sq. ft. of manufacturing space, offering complete solutions to automotive and medical injection molded precision plastic with all services in house. MPC’s newly renovated facility will soon add both the Good Manufacturing Practices (GMP) and ISO 13485 certifications to its capabilities, including the clean molding room capabilities.
  • MPC is one of a handful of International Automotive Task Force (IATF) certified suppliers in Canada. MPC’s capabilities, including in-house product development, 3-D printing, leading-edge optical scanning, virtual molding flow analysis, and precision tool design, put them at the top of the list of suppliers for automotive Tier 1 clients, such as Multimatic, Flex N Gate and Magna, and Original Equipment Manufacturers (OEMs), including GM, Ford and Tesla.
  • Founded in 2008, Canadian custom injection molding firm Niigon Machines Ltd. has developed a transformative technological process to manufacture complex precision molded components. By adopting this technology, MPC will be able to double its productivity while maintaining the high quality and precision of its products.
  • On June 11, 2020, FedDev Ontario announced a $50-million investment in Digital Main Street’s ShopHERE initiative to support more local businesses to sell online. Through the investment, jobs are being created for 1,400 co-op students. Over the summer and fall work terms, students will gain valuable work experience creating online storefronts.
  • Since November 2015, FedDev Ontario has invested over $70 million in 119 youth entrepreneurship-related projects that are anticipated to leverage more than $51 million to support businesses, organizations and communities.

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