Markham-based injection-molded plastics manufacturer
Novo Plastics has
developed a muffler system for cars that it says is more ecologically friendly, cheaper, lighter and more durable than conventional mufflers. And with a recent investment of $975,000, it will be expanding its GTA manufacturing facility to improve distribution.
Founded in 2006, the company has grown to employ more than 70 people in its 80,000-square-foot factory in Markham, manufacturing plastic parts for heating and air-conditioning systems, as well as automobiles. Its innovative muffler system has been undergoing testing and continued development over the past year.
Novo Plastics CEO Baljit Sierra says that because plastic is far lighter than steel, the muffler system vastly improves gas mileage. "There's been a huge push by car manufacturers to take weight out of the vehicle, and this muffler represents a significant weight reduction, which makes the car much lighter. It also has a far cooler surface temperature which eliminates the need for other equipment."
The injection of capital comes courtesy of the federal government's Ontario economic development arm, FedDev Ontario,
which announced the funding last week under its
Prosperity Initiative. The repayable investment is targeted to allow the company to tool up to be the first to bring this type of system to market and to distribute it around the world.
Sierra says he expects to be growing the size of the company's workforce over the next year or two, once the ongoing testing phase of the product is complete; he declined to guess at a specific number of hires at this stage. In addition to its Markham headquarters, the company operates sales and distribution offices in the US, Germany, India and South Korea.
Writer: Edward Keenan
Source: Baljit Sierra, President and CEO, Novo Plastics