Bavarian investment in Ontario: 300 jobs to be created in Hamilton thanks to reopening of 2 plants


Ontario grants the Bavarian company Max Aicher a $9 million loan as the company buys 2 plants in Hamilton, ON, that were closed by Stelco. Max Aicher anticipates an investment of $106 million in order to reopen the plants, which could in turn create some 300 jobs.


Steel coming out of these plants will target mainly the automotive industry as well as parts destined to construction and mining industries.
Max Aicher, a Bavarian family company almost 100 years old, is one of the first steel producers in the Danube region, with locations in Germany, the Czech Republic, Slowakia, Austria, Hungary and Romania. It was created in the 1920s as a construction firm (real estate and public works) and diversified its markets over the years – first in the 1970s towards steel production, then in the 1990s towards environmental technologies and recycling. In 2004 its turnover exceeded $1 billion for the first time.
Source: Radio-Canada and www.max-aicher.de