Ottawa has announced a $20-million investment to support an $81.2-million project that will create 108 jobs and maintain 710 more in Whitby and Cambridge, ON.
Gerdau Ameristeel is upgrading its facilities in Whitby and Cambridge to modernize steel production lines, reduce manufacturing costs, reduce the amount of scrap metal going to landfills and improve production capability for billets, which are semi-finished long steel products used to produce other steel-based products such as angles, rebar, flats or channels.
This investment is being made through the Strategic Innovation Fund, which is designed to attract and support high-quality business investments across all sectors of the economy by encouraging firm expansion as well as R&D that accelerates technology transfer and the commercialization of innovative products, processes and services, as well as facilitating the growth of innovative businesses.
Gerdau specializes in the transformation of scrap into steel. It is a major supplier of long steel in the Americas and one of the largest recyclers in the world.