Canada invests in growth of energy-efficient manufacturer

Ontario — The Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced an investment of nearly $4 million for Rex Power Magnetics, a family-owned transformer design and manufacturing company used in the generation, storage, and transmission of electricity for schools, homes, hospitals, businesses, and more.

Through this investment, Rex Power will add a new transformer production cell at its current 145,000-square-foot facility in Concord, and create a new production line at its new facility in Etobicoke. As a result, the company will double sales, create 35 jobs, and improve lead times to provide made-in-Canada transformers to local Ontario suppliers. This expansion is also expected to help address supply chain shortages experienced by North American energy companies as the demand for green solutions grow.

The company’s production processes and energy-efficient transformers will continue to play a role in the reduction of greenhouse gas emissions as well as increase the supply of transformers for renewable energy infrastructure applications in wind, solar and battery.

“Ontario’s manufacturing industry is the power that drives our national economy forward. Our government is investing in the people that make it run,” said Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario. “By making smart investments, like the one today for Rex Power Magnetics, we are supporting manufacturers that are leading the way to support a cleaner environment for generations, and create good paying jobs for our communities.”