Martinrea International plans to invest $35M in Ridgetown plant expansion, adding a SIMPAC 3000 metric ton stamping press to produce larger, high-strength metal parts for electric vehicles.
Martinrea International plans to invest $35M in expanding its Ridgetown plant, adding a SIMPAC 3000 metric ton stamping press by next year. The move aims to produce larger, more complex parts and boost production efficiency, targeting rising demand for lightweight, high-strength metal solutions in the automotive industry. The expansion follows the closure of the Dresden plant due to industry changes, including the shift towards electric vehicles.
June 22, 2024
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