May 2nd, 2022
FedDev Ontario recently announced an investment of $2 million in Lorama Group Inc. to commercialize and scale up production of its adhesive products.
Located in Mississauga, Ont., Lorama Group Inc. is a manufacturer and distributor of colourants and additives in the paint and coatings sector. With this recent investment, the company will acquire advanced manufacturing equipment to produce its renewable, non-toxic bio-adhesive used in wood composite products.
“The Funding from FedDev Ontario further strengthens our commitment to provide innovative, sustainable solutions to the market, as well as accelerating Lorama Group’s vision of a clean, greener future,” said Andrew Burnett, CEO, Lorama Group “This support aids in the building of advanced manufacturing capabilities critical in developing a competitive advantage needed to commercialize new bio-based solutions.”
This investment will also create up to 20 new jobs in the Mississauga region.
“Our government is making smart investment in innovative Canadian companies like Lorama Group to drive green and innovative economic growth across Canada,” said Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario. “This support protects Canadian businesses and Canadian jobs, and helps businesses adopt new, innovative technologies and scale up. These investments create good jobs for Canadians and help Canada to be a global leader in green technology.”
For more than 40 years, Lorama group has supplied commercially cost-effective sustainable solutions. In addition to having six global labs, the main laboratory is located in Mississauga, housing its R&D, technical services and colour services group.