BARRIE - Yachiyo of Ontario Manufacturing (YOM) in Barrie is being bought.
YOM employees were told Friday that a buyer has been secured for the Mapleview Drive West facility, a vehicle parts and accessories plant, which employs 350 full and part-time employees.
Matcor-Matsu Group, a private Canadian-based corporation, will assume ownership of the YOM facility on a target date of June 27, 2014.
The sale agreement provides that all current YOM employees have the chance to continue working with Matcor-Matsu, with no changes in wages and with benefits to remain comparable to those currently in place.
"Despite the directional change in Yachiyo, we have been given a unique opportunity and are fortunate to be joining an outstanding Canadian-based corporation," said YOM vice-president Rob Priest.
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Posted by: Littlewood Properties