Ottawa-based manufacturer Aonix Advanced Materials Corp. is promising to create new jobs in the capital after receiving what it is describing as a major strategic investment.
Jerome Le Corvec is the president and CEO of Aonix.
By Jacob Serebrin
The deal will see Georgia’s Solvay Specialty Polymers acquire a minority stake in Aonix, which makes thermoplastic composites, for an undisclosed investment.
Aonix refused to release details of the deal between the two privately-held companies.
The company plans to use the money for a “ramp-up of our delivery capacity,” said Brett McAteer, the marketing and communications director at Aonix. A big part of that will involve opening a new factory in Taiwan.
The investment will help Aonix with “getting our feet firmly planted on the ground” in Taiwan, said Mr. McAteer.
But Aonix isn’t just creating jobs in Asia. Mr. McAteer said the company plans to hire between 20 and 30 people locally over the next 18 months.
He hopes this will help improve the composites the company makes and its manufacturing process, both of which Mr. McAteer believes are more advanced than Aonix’s competitors.
“We are changing the marketplace,” he said.
According to Mr. McAteer, the composite industry is behind the curve when it comes to automation.
“Too much manual intervention extends production cycle times,” he said.
By “reducing the manufacturing cycle,” the turnkey manufacturer will have a “tremendous advantage in the marketplace,” he added.
The company’s composites, which it describes as “ultra high performance,” have applications in consumer electronics, sports equipment, vehicles and with energy production.
“Investments of this size are rare in our industry,” said Jerome Le Corvec, president and CEO of Aonix, in a press release.
“Solvay’s investment is a significant endorsement of our technology. Aonix is setting new standards for thermoplastic composite performance and manufacturing productivity, on the same platform.”