The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) is investing nearly $4 million into Rex Power Magnetics, a family-owned transformer design and manufacturing company used in the generation, storage, and transmission of electricity for schools, homes, hospitals and businesses.
Rex Power will use the money to 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 expects to double sales, create 35 jobs, and improve lead times to provide made-in-Canada transformers to local Ontario suppliers. The 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.