Durham Region's Economic Development team establishes foreign investment opportunity in Oshawa

Whitby, Ontario – Due to the efforts of Durham Region’s Economic Development’s team, a $10 million investment in the future of Cleeve Technology International (Cleeve), a high-technology company based out of Oshawa, was recently completed with a Chinese investor. Cleeve’s core business is the design and assembly of electrical cabling and support harnesses used in the aerospace and defense industries.

In 2016, Economic Development staff visited Cleeve and learned they were in need of a $10 million investment for their BRIC Engineered Systems division (BRIC), which designs and assembles robotic systems at their customer’s locations. Through the business relationships that have been developed in China over the past three years, Regional staff quickly identified an opportunity to connect the Oshawa-based business owner with an interested Chinese investor, resulting in a successful business deal.

“This investment opportunity really highlights the value and efforts of the business relationships developed in China by Regional employees,” says Kathy Weiss, Director of Economic Development and Tourism. “Economic Development staff will continue to attract new foreign direct investment to the region through the Foreign Direct Investment Plan, and will continue to work diligently to introduce investors and businesses from China, and around the world, to the benefits of doing business in Durham Region.”

With this new investment, BRIC is able to utilize a new, unique technology that will accelerate operations and offer their customers significant time and cost savings with nearly zero environmental impact. BRIC will soon be able to take its new technology worldwide while also allowing Cleeve to build another larger facility that will result in over 60 new, high-skilled jobs.

To learn more about Durham Region’s Foreign Direct Investment Plan, please visit www.investdurham.ca.   

- 30 -

For more information, please contact Corporate Communications.