TORonTO Sumitomo Precision Products are opening a new production facility for aerospace landing gear in Mississauga.

The facility, located in Mississauga, Ontario, will become the Japanese company’s global headquarters for its aerospace division.

The ontario government is providing a $3.25 million loan that will support the final assembly project, which has a total value of $10 million.

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Sumitomo’s overall investment in its new Mississauga facility is valued at over $50 million.

“With support from our government, Sumitomo’s investment will further strengthen our province’s aerospace sector and create direct and spin-off jobs right here in Ontario. The new ontario government will continue our proactive approach to attracting investment that creates jobs and strengthens our economy,” stated Dr. Eric Hoskins, Minister of Economic Development, Trade and Employment

The company will undertake final assembly for aircraft landing gear and landing gear control systems at the Mississauga facility. Sumitomo currently sources about a third of its landing gear components from ontario suppliers – and this share is expected to grow with the new location.

Currently Ontario’s aerospace industry employs approximately 22,000 people and manufactures about 60 per cent of the world’s large commercial landing gear and about 40 per cent of all commercial landing gear.