Ontario Construction News staff writer
Magest Building Systems Ltd. will receive $500,000 from Ontario’s Southwestern Ontario Development Fund to support a major expansion of its operations, Perth-Wellington MPP Matthew Rae announced Wednesday.
Also, the company will spend $12.32 million to expand the facility, install automated equipment and implement new software. The upgrades will enable Magest, a manufacturer of cold-formed steel wall panels and trusses for multi-storey construction, to introduce a new product line of hollow-core planks.
“When we invest in productivity and local manufacturing, we’re strengthening our economy and our ability to build for the future,” Rae said. “This ensures companies like Magest remain key players in supplying materials for Ontario’s housing sector.
“When companies expand, it supports local workers, strengthens supply chains and helps build more homes locally and across the province,” Adding the project supports both economic growth and housing supply.
Company president Brock Martin said the project is already improving operations.
“This investment has strengthened vertical integration across our operations and expanded our capacity to serve the multi-residential housing sector,” he said.
Martin added that increased efficiency and production will help meet growing housing demand while aligning with federal efforts to accelerate homebuilding.
Magest was founded in 1990 by Gary Martin. Its current facility at 25 Wright Blvd. was constructed in 2002.
Ontario’s Regional Development Program has awarded more than $230 million to manufacturers across the province. According to officials, the program has provided money to more than 180 projects to date, generating over $2.6 billion in new investments and creating more than 5,500 jobs.
