Ontario, Canada welcomes Sumitomo Precision Products
New location becomes global headquarters for Sumitomo's Aerospace Division
Ontario, Canada is helping Sumitomo Precision Products open its new production facility for aerospace landing gear in Mississauga. The facility, located in Mississauga, Ontario, will become the Japanese company's global headquarters for its aerospace division.
Shinichi Nakamura, President of Sumitomo Precision Products (SPP) Canada Aircraft, Inc., says, "Our new Mississauga facility is ideally located at the heart of Ontario's concentration of landing gear expertise. From this base, Sumitomo looks forward to offering an expanded suite of products and services to our North American aerospace customers."
Ontario is providing a $3.25 million loan that will support the final assembly project, which has a total value of $10 million. Sumitomo's overall investment in its new Mississauga facility is valued at over $50 million.
Ontario's well-established aerospace industry includes world leaders with global product mandates, top-of-the-line suppliers and a broad range of advanced manufacturing support services.
The industry in Ontario includes more than 350 companies. Sales top $6.5 billion annually with more than 80% of it generated by exports. Niche market capabilities include:
- commercial, business and special-purpose aircraft
- unmanned aerial vehicles
- structural components
- satellites sub-systems
- flight simulators
- optical/visual systems
- electronic systems
- landing gear
In Ontario, aerospace firms operate in a creative, top-ranked business environment that includes some of the world's most advanced manufacturers in the automotive, telecommunications and life science sectors.
Aerospace leaders the world over are investing in Ontario for growth and business success.
- Ontario is providing a $3.25 million loan in support of the final assembly project. This is part of an overall investment by Sumitomo of over $50 million in its new Mississauga facility.
- The company will undertake final assembly for aircraft landing gear and landing gear control systems.
- Sumitomo sources about a third of its landing gear components from Ontario suppliers, and this will grow with the new facility.
- Ontario's aerospace industry employs approximately 22,000 people and manufactures about 60 per cent of the world's large commercial landing gear and about 40 per cent of all commercial landing gear.
- Ontario has cut taxes on business investment in half, making the province more competitive for foreign investment.