FedDev Investments Boost Growing Burlington Companies

AM900 CHML News Talk Radio – March 19, 2015 – Hamilton, ON.

A Burlington company hopes to create 16 jobs, and almost double its workforce, thanks to an 800 thousand dollar federal investment.

Burlington M-P Mike Wallace was joined by FedDev Ontario Minister Gary Goodyear, in announcing the support for Memox Automation on Thursday morning.

Memex will use the repayable loan to commercialize the latest version of its product which helps manufacturers improve productivity through technology that allows machinery to communicate with each other.

It has about 80 customers, 80% of which are outside of Canada.

Wallace says the investment is about helping companies to be “global competitors”.

A second Burlington company, AdFlow Networks, which specializes in digital signage has received a 100 thousand dollar repayable loan through the same federal program to expand its facilities.

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