Stone World

HANWHA L&C RECEIVES $10 MILLION FROM ONTARIO AMIS . .

January 7, 2009

Hanwha L&C Canada, the newest North American division of Korean-based Hanwha L&C, announced the investment of $10 Million (CAD) from the Ontario Advanced Manufacturing Investment Strategy (AMIS). The funds represent Ontario’s commitment to the economic growth and technological advancement of the province. Premier Dalton McGuinty was on hand for the ceremonial presentation alongside London, Ontario, Mayor Anne Marie DeCicco-Best and Hanwha L&C Canada president, Dr. Daniel Yu.

Ontario’s AMIS distributes interest-free loans (for the first five years) to support companies that strengthen Ontario’s economy and technological growth. The financing comes at a pivotal time in the development of the $70 million (CAD) Hanwha L&C manufacturing and distribution plant. Construction broke ground at Innovation Park in London, Ontario, in January of last year and with the outer shell completed, the facility is on track to begin production of its luxury HanStoneTM Fine Quartz Surfaces line in July of this year.