Racer Machinery International was founded in 1983 by Don Zoran Vojinovich, an immigrant from Europe who always had a passion for machine tools and has passed this passion on to his sons, Alex and Igor, who are involved with the business. Alex is the President, while Igor is the Chief Operations Officer.
Racer services several industries for basic manufacturing, but automotive makes up the bulk of its sales. It makes machines that produce automotive parts for Ford, GM, Chrysler, Magna, Martinrea and Tesla. It also makes Engine Lathes for the military and counts General Dynamics, the Canadian Armed Forces and U.S. Armed Forces as its customers, among others, including many educational institutions.
When Racer approached Export Development Canada (EDC) about credit insurance, most of its business was domestic. Today, more than 80% of it is international. EDC’s Portfolio Credit Insurance gave the company the confidence it needed to enter new markets and build its foreign customer base in the U.S. and Mexico.