A new Zealand company has signed a deal to make industrial equipment in Canada.
Jansen Industrial Equipment, based in New Zealand, will invest $1.4 billion in an expansion in the country.
It will produce industrial equipment for companies such as aerospace and automotive.
J&H Automation has a long history in the manufacturing industry, but has been in the news recently after a high-profile investigation by CBC News.
In June, CBC News reported that the company was behind a massive online fraud scheme.
The investigation focused on a Canadian company called J&H that was believed to have been responsible for up to $1 billion in fraud.CBC News reported on the investigation, which also found that the firm was involved in the sale of thousands of fake certificates, a practice known as “ghost certificates.”
J&S, which is based in South Africa, was in talks with CBC News and The Associated Press to move forward with the deal.CBC reports that J&S will also be moving operations from Canada to New Zealand.
The company is not yet certain how much money it will invest in New York.
J & H Automation will have the opportunity to manufacture and market equipment that will be sold in Canada under its J&K brand, which was launched in 2013.
The Canadian company will be able to sell its products directly to Canadians.
The deal is expected to close by the end of the year.