Company says it's not permanent
It's been a little over a week since Umicore announced they were pausing construction on their on their EV Battery Plant in Loyalist Township.
Loyalist Mayor Jim Hegadorn said like many in the community, he reacted with concern.
He went on to note this project has the opportunity for significant positive impact for the community and the whole region.
Hegadorn says the Township has been reassured that construction has not been halted permanently.
One thing that reiterates Umicore's commitment to the community the mayor shared, is that they have advised there are staff layoffs within their organization and that there's still a very strong commitment to move forward with this plant.
Umicore CEO Bart Sap shared in last week's statement, “We are shaping a new way forward and will share the outcomes during a Capital Markets Day in Q1 2025."
Once back on track, Hegadorn says there will be many benefits for the community from the housing market, spinoff business, hundreds of jobs available once completed and the thousands during construction.
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