Two Local Automotive Companies Receive Funding
Thursday April 14th, 2016, 11:17am
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Landau Gage as seen on Google Streetview
Two local automotive companies are among several in Canada to receive a portion of the $19.6 million Automotive Supplier Innovation Program. This program helps Canadian automotive suppliers gain a competitive edge through the development of new innovative products and processes.
The Electromac Group received a contribution of up to $1.5 million that will develop an innovative prototype and process that involves using hot stamping technology to produce small components that are stronger and lighter.
Landau Gage received a contribution of up to $121,000 to use its unique laser measurement technology to reduce measurement and inspection time of automotive drive train products.
Launched in 2015, the program complements the government’s Automotive Innovation Fund, which has leveraged over $3.1 billion in Canada’s auto industry since 2008. Each ASIP project is assessed again 50% of the eligible costs.
