Mr. Speaker, I rise in the House today to congratulate the Futaba Industrial Company Limited for making a new investment in the city of Stratford. With the recent signing of a land purchase deal the stage has been set for the manufacture of Toyota automobile parts and a newly constructed Stratford factory next year.
Located in Wright Business Park, this new facility amounts to a total investment of $31 million. At the onset of production 70 new employees will be hired to begin producing 33 different components of the top of the line Toyota Lexus RX300. These parts will be slated to supply the entire North American market.
This will be a new employer for the city of Stratford and expansions are planned for the future. The facility will amount to a win-win situation for the constituents of Perth--Middlesex. Initial production is expected to begin September 2003.
I congratulate the Futaba Industrial Company Limited on the proposed new facility.