Auto Service World
News   January 14, 2008   by Auto Service World

Lakehead Manufacturing Gets Michelin Loan

New Hamburg’s Lakehead Manufacturing Inc. has received a Michelin Development in the Greater Waterloo Region loan for $78,700.00 to be used for expansion and the addition of new product lines that will create 34 new jobs.
“Lakehead Manufacturing is a great example of an established business that continues to grow and create new jobs for Waterloo residents,” said John Tully, director of Michelin Development (Canada) Inc. in the Greater Waterloo
“This boost to the local economy is exactly the type of growth that Michelin Development is designed to encourage.”
Lakehead Manufacturing builds upright air filters for the outdoor power equipment market. They are expanding to add new lines of panel filters, radial seal filters and recyclable / reusable air filters using new manufacturing
“We were ready to expand and we needed a partner who could understand our business and help us take the next step,” said Terry Rath, president, Lakehead Manufacturing Inc.
“Michelin Development in the Greater Waterloo Region was able to provide the loan we need and provide us with manufacturing expertise.”
Michelin Development focuses on new job creation by providing low-interest loans to qualified start-up, small- and medium-sized businesses.
In addition to this financial support, Michelin Development supports the development of new and existing businesses by providing access to Michelin’s considerable in-house business expertise.
Headquartered in Laval, Quebec, Michelin North America (Canada) Inc. employs approximately 3,700 employees and operates three plants.