Charest’s northern vision keeps jobs in Magog
Magogharbours an anachronism in Maggoteaux, a foundry located in the middle of the town. Its 140 jobs are guaranteed a new lease on life as the former Belgian owned company is investing $4,500,000 in a new foundry oven. Sigdo Koppers, a Chilean company, bought the company last summer for over $750,000,000.
In Magog, the Quebec government gave a subsidy of $370,000 to help the company finance its investment. Local M.N.A., Pierre Reid, was quick to remind all that the mining sector is expanding and that his government’s Northern plan was giving high hopes to suppliers of the industry.
The Magog foundry, saved from closure when Maggoteaux bought the former Fonderie Magog which had closed for almost a year in the 1980’s, produces grinding balls, highly specialized parts of the grinding process that sees mined rocks crushed by them into powders that can be heated into metals. One can imagine that these balls must be resistant and use special metals to survive. Now producing around 40,000 tons of balls, from the small half inch to five inches, the new equipment should raise the number to 45,000 tons a year.
Pierre Reid announcing the grant of $370,000 that will guarantee that 140 jobs are saved in Magog.