MIL OSI Translation. Canadian French to English –
Source: Government of Canada – in French 1
Press release
Government of Canada investment helps Formula Solutions Inc. commercialize its innovative jet engine component manufacturing process
September 27, 2024 – Burlington, Ontario
With skilled talent, proximity to key economic hubs, and recognized industry and academic leaders, Burlington has become a leading centre for advanced manufacturing, particularly in the aerospace industry. The Government of Canada is committed to supporting our local manufacturing industries as they adopt new processes and develop made-in-Canada products to strengthen their position in global supply chains and create good jobs for Canadians.
Today, on behalf of the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), Pam Damoff, Parliamentary Secretary to the Minister of Foreign Affairs (Consular Affairs) and Member of Parliament for Oakville North–Burlington, visited Formula Solutions Inc. (FSI), a globally recognized aerospace composites manufacturer that develops and engineers technologies for the aerospace industry.
At the event, Parliamentary Secretary Damoff met with employees and highlighted how FedDev Ontario’s $1.7 million investment has helped the company accelerate the commercialization of its innovative jet engine component manufacturing process. As a result, FSI has been able to increase production of quality, cost-effective and environmentally responsible jet engine parts for large commercial aircraft and continues to be a significant global player in the aerospace supply chain.
The Government of Canada is committed to creating opportunities for all Canadians by providing them with the tools they need to scale up and seize new opportunities, create opportunities in our most important sectors, and grow our economy.
Quotes
“Manufacturing plays a vital role in southern Ontario’s economic growth. When we invest in a business’s potential, we invest in a strong future for our province and our country. Formula Solutions Inc. manufactures cutting-edge, made-in-Canada parts and products and embraces next-generation innovations to meet the evolving needs of the aerospace industry. Our government’s investments put people first and pave the way for our businesses to thrive.” – The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
“Formula Solutions is a great example of the innovation happening in the region. Through strategic investments, we are supporting companies like Formula Solutions, growing and strengthening our aerospace industry, while contributing to the future resilience of our manufacturing sector.” – Pam Damoff, Parliamentary Secretary to the Minister of Foreign Affairs (Consular Affairs) and Member of Parliament for Oakville North–Burlington
“We appreciate the exceptional support provided by FedDev Ontario to Formula Solutions Inc. (FSI) to advance our innovative aerospace manufacturing technology. The funding received through this program has helped establish FSI as a world-class supplier of advanced composites to the commercial aerospace sector and provides a platform for future growth and technological advancement. This will create new direct and indirect STEM employment opportunities and help strengthen Ontario’s status as a global hub for aerospace manufacturing.” – James Peters, President and CEO, Formula Solutions Inc.
Quick Facts
Ontario’s aerospace manufacturers are renowned for their talent and play a key role in the global supply chain for many passenger aircraft.
Ontario’s aerospace industry comprises more than 200 companies, employing more than 45,000 people and generating revenues of more than $6 billion.
Founded in 2018, Burlington-based Formula Solutions Inc. is a composite materials manufacturer specializing in carbon fiber-reinforced plastic components for the aerospace industry.
Since 2015, the Government of Canada, through FedDev Ontario, has invested more than $885 million in nearly 415 manufacturing projects, supporting more than 26,000 jobs.
Related links
Contact persons
Edward HutchinsonPress SecretaryOffice of the Minister responsible for the Federal Economic Development Agency for Southern OntarioEdward.hutchinson@feddevontario.gc.ca
FedDev Ontario Media Relationsmedia@feddevontario.gc.ca
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EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.