MPIQC
| WHO | Electronic Manufacturing Services (EMS) company |
| HOME BASE | Cornwall, Ontario |
| BUSINESS LOAN | $250,000 |
| LEVERAGED FUNDS | $950,000 |
| JOBS CREATED TO DATE | 18 FTE |
PROJECT SUMMARY
The Community Futures loan, along with the investments of other funding partners, provided MPIQC with the required funds to purchase new manufacturing equipment along with offering them some working capital. This investment is allowing MPIQC to grow and remain relevant and competitive on the world market. MPIQ’s new innovative equipment will enable them to remain competitive thus increase efficiency, productivity and customer added value. MPIQC has been successful in receiving BDC funding to purchase additional equipment and has also received a CEDP grant for $100K. This recent funding helped them finalize their Inspection AOI (Automatic Optical Inspection) for Sigma. It allowed them to increase product quality to their end customer by adding a specialized piece of equipment that will compensate for the fact that they cannot electrically test the product because of design component density. Their customers are continuously reducing their component size and using latest technologies. This equipment allows MPIQC to grow with and deliver to their most innovative customers. If they do not, they would lose these customers. This latest project is expected to deliver $500K in incremental sales over the next 5 years. Their Sales have grown by 23% from 2015 to 2016 and Net income has grown by almost $1.3M in the same period
TESTIMONIAL
“This combined investment will assist us in taking MPIQC to the next level. Our company is growing and so is the need to update our equipment. Because of the support of these investing partners MPIQC now has the latest technology to increase its productivity and compete on the global scene.”