Magna investing millions in Ontario tool and die shop

Source: Magna International Inc.
Source: Magna International Inc.

CONCORD, Ont.—Walking the plant floor at Tycos Tool & Die, a unit of Magna International Inc., the changing face of North American manufacturing could not be more evident. With a fleet of new machines positioned among a handful of old “workhorses” that haven’t missed a beat since the Cold War, the 115,000 square-foot facility in Concord, Ont., is in the midst of a significant strategic upgrade.

Tycos has invested $14 million in its operations since 2011, and though the facility has already boosted its productivity, bolstered its sales and reinvigorated its staff, it’s only about half-way through executing its capital spending plan. Management has already drawn up floor plans to complete the project and intends to continue investing and preparing the business for the future.

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