Systemair, a manufacturer of ventilation equipment, is spending more than $5.1 million to upgrade its facilities in Grand-Bouctouche and Moncton.

The provincial government is supporting the initiative through Opportunities NB, which is providing a conditionally repayable loan of up to $957,000 and a payroll rebate of up to $425,000.

“We appreciate the continued support from Opportunities NB,” Daniel Goulet, general manager of Systemair, said in the release.

“We’re proud to build our presence in a province that shares our commitment to innovation, sustainability and growth.”

The funding will help Systemair install a new automated sheet metal-forming production line and expand its workforce, according to a government release.

Up to 122 new jobs are expected, with recruitment already underway.

The project is expected to contribute about $10 million to New Brunswick’s GDP by 2026.

Systemair is a subsidiary of Sweden-based Systemair AB, which operates in 51 countries and employs more than 6,000 people worldwide.