Kinectrics is pleased to announce it has secured two new locations in Bruce County to continue providing Bruce Power with exceptional service and value. Kinectrics has purchased a 37,000 sq. ft. facility and nine acres of industrial property in two communities, with plans to create 50 jobs in the region over the next several years.
Kinectrics is a leading testing, inspection, certification and consulting company with over 25 unique laboratory and testing facilities for the electricity industry, with almost 100 years of experience. Kinectrics is a key Bruce Power supplier, providing life-cycle management through a range of technology offerings including inspection robotics, replacement components, materials, electrical and chemistry, safety and licensing support programs.
The cornerstone of its expansion is a newly purchased 37,000 sq. ft. facility at the Bruce Energy Centre, near the community of Tiverton in the Municipality of Kincardine. To support this investment, Kinectrics has also purchased nine acres of industrial property in the community of Teeswater, located in the Municipality of South Bruce. Initially, Kinectrics will construct a 40,000 sq. ft. facility at this location, and has plans to increase the facility to over 100,000 sq. ft. should there be sufficient demand over the next few years. In addition to these investments, Kinectrics is also considering additional expansion opportunities within the Bruce Energy Centre.
"Kinectrics is thrilled to be opening major facilities in Bruce County," said David Harris, Kinectrics' President and CEO. "The community provides an outstanding platform to grow our business both with Bruce Power and our clients worldwide. We look forward to employing the sons and daughters of the community over future generations as we support a world-leading nuclear operator like Bruce Power."
Together, these facilities will create over 50 new jobs in the region over the next several years as Kinectrics increases its support of Bruce Power's operations. Kinectrics is expecting to invest almost $20 million into the facilities over the next five years, with the help of the local business community.
"This is the most significant investment we have seen in our regional economy by suppliers since the launch of our local Economic Development and Innovation Initiative last September," said Kevin Kelly, CFO and EVP Financial and Commercial Services. "The economic benefits that will occur as a result of this investment will be significant, and Kinectrics' commitment to our region gets us one step closer to achieving our vision of a sustainable local economy able to support and advance Bruce Power as a world leader."
Mitch Twolan, Bruce County Warden, congratulated Kinectrics on its investment and welcomed them to the region. "On behalf of the county, I thank Kinectrics for making such an important investment in our region. I look forward to visiting these facilities when they are ready, and leading the county in welcoming Kinectrics to our communities."
