Just over $5 million is being distributed to the three companies, repayable investments to help them grow and diversify. During a funding announcement at Hydra Dyne Technology in Ingersoll, Hydra Dyne General Manager Haidar Chandu Zakir stressed the importance of the funding, “Today is simply not about an investment. It’s about confidence in Canadian manufacturing and innovation and in the people who build things that matter.” The funding is through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), with Hydra Dyne received $2 million. The company has a staff of about 180 people, and makes hydraulic components for the defence, aerospace and automotive sectors. Hydra Dyne leadership plan to use the funding to expand operations, with an eye to expanding advanced manufacturing capabilities. CEO Stephan Bohner told CTV News that more than 95 per cent of what they make gets exported. And while their parts aren’t the least expensive to buy, he said they provide the highest value to the customer, which is reflected in growing demand, “We’re way cheaper than our competitors due to lower failure rates. They’re longer lasting.” Government Deputy House Leader and London West MP Arielle Kayabaga made the funding announcement and again emphasized the need to help develop new markets for businesses facing tariff pressures. “We funded them before, and we’ll continue to fund them. We’re going to continue to support them, and walk with them to make sure that they actually can get to the other side and survive this challenging tariff war that we’re in,” said Kayabaga. Of the FedDev mondyd, $2.5 million will be going to Transfer Future Co., based in Tillsonburg. They’re supply chain specialists, with an emphasis on logistics and materials handling. They’ll use the money to build a fully integrated Ontario-based crop protection supply chain. Melnik Resources in Mount Brydges is receiving $530,000. A long-time custom metal fabricator, Melnik now focuses on housings for digital displays seen places like banks or quick-serve restaurants. Kaleigh Eichberger is head of Sales and Marketing for Melnik. She said the money will allow them to grow their 16-member team. “We are able to increase our manufacturing capabilities: improving precision, our tolerances, the speed at which we manufacture. We’ve just installed and brought on board of, state of the art laser cutter,” said Eichberger. Bohner says its critical the government continue to support businesses and he’s also looking for updated immigration policies that can support labour demands, “The opportunities are here. We just have to be able to grab them and take them.”
