A Chinese recycling company has formally expressed interest in expanding into Chatham-Kent.
Niutech Environment Technology Corporation has signed a "Memorandum of Understanding" (MOU) with Chatham-Kent administration, with the hopes of investing up to $15-million for a manufacturing base, as well as a research and development centre in Canada.
Niutech's patented devices take old tires and plastic material, and recycle them into new products.
"We've seen some of their tire material recycling before," says Chatham-Kent CAO Don Shropshire. "But having this other additional capability with plastics, is certainly the first time we've seen this kind of thing in North America, and certainly an interest being expressed in Chatham-Kent."
Shropshire says the operation has the potential to bring 50 new jobs to Chatham-Kent.
He adds Niutech officials have been to Chatham-Kent three times before. He says they also spoke with local businesses about the parameters of expanding into CK.
The company announced the deal in China, in the eyes of government officials and Prime Minister Justin Trudeau. The MOU isn't binding, but Shropshire says it's a positive step.
"When they make an announcement like this in front of their senior government officials, we're pretty pumped that it's moving forward, and it's a positive thing for Chatham-Kent," says Shropshire.
Shropshire wouldn't speculate on where in Chatham-Kent Niutech could expand. He also wouldn't divulge what still needs to happen to break ground.
"When you talk about bringing in an investor from another country, it takes a lot of work to make that happen," says Shropshire. "We're not going to try to speculate in terms of the time frame."