Hitachi Energy to build $479-million transformer insulation plant in London, Ont.
The province says the new factory will create more than 100 jobs and be the first of its kind in Canada.
By David Ellis · · Updated · 1 min read
Hitachi Energy Canada will invest $479 million in a new transformer insulation factory in London, the Ontario government announced Friday morning, Oct. 16.
The plant will be the first pressboard manufacturing line of its kind in Canada and will create more than 100 new jobs, the province said in a news release. Pressboard is an insulating material used in electrical transformers.
The 21,000-square-metre Transformer Insulation Centre will be built in London's Huron Industrial Park and is expected to be finished by 2028, according to the release. The province says the plant will be able to produce up to 20,000 tonnes of material a year and will be the largest of its kind in the world.
The federal government is contributing $20 million through its Strategic Response Fund, plus $10 million from Natural Resources Canada, the release says. It did not say whether Ontario is contributing money.
Ontario's economic development minister said the investment will "create new, high-value jobs for local workers." The province tied the project to growing electricity demand and its energy buildout, and said it will reduce reliance on imported transformer materials.
Hitachi Energy employs 422 people in Ontario, according to the province, including 257 who joined through its purchase of London-based Canduct Group. The company recently announced a $30-million investment at its Stoney Creek facility.
This is what has been announced so far. The Banner will update this story.
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