Greetings All,
I just wanted to stop in and let you all know whats happening with that small company I keep telling ya all about. Western American Resources (WAR). The company made the Business section of several major news papers today (Southam Press).
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Western America Resources, a small but growing resource management company as tapped the executive suite of Canada's largest general contractor for its new Chairman.
Joseph Thompson, chariman and former president and CEO of PCL construction Group INc. joins WAR as the board Chair. Thompson, a civil engineer by trade, presided over PCL's rise from a regional construction company to its current status as National Industry Leader.
Thompson also serves on the boards of TransCanada Pipeline, Nova Chemical Corp, Shana Corp, Van Horne Institution, Royal Alexandera Foundation and Jonan Enterprises Inc. He's also active with the University of Alberta business advisory council, Edmonton Business Information Group and advisory board of Economic Development for the City of Edmonton.
Western America Resources, a one time minor resource exploration firm has grown to become a leading distributor of forestry equipment adn manufacturer of customized vinal flagging tape.
It now has plans to acqure businesses involved in high-tech areas of the construction and survey sectors. Western America Resources president, Don Caron, said Lasers, electronics, hand held computers, GPS and related technologies are all being sought under the companies new acquisition policy.
"Western is fortunate to have Thompson to join the company," Caron said, "He's built market leaders in the past with PCL Construction, probably one of the leading contractors in North America. We're going through a huge growing phase adn we need that kind of experience up front."
In January, Western acquired Canadian Forestry Equipment, a distributorship [with several exclusive high-tech products] with locations in Montreal, Mississauga, Edmonton, and Vernon. At the same time it acquired tape maker Flagging and What Inc.
Western has annual sales of 7.9 million and about 50 employees. It trades on the Alberta Stock Exchange.
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For those of you who have not read my previous post, note that the
official public anouncement of the acquisition of exclusive distribution of NIKON SURVEY PRODUCTS has not yet been released. This will in affect add 5 million in annual sales.
*** If no one objects, i am happy to continue to provide updates to you all as changes occur to this company, I have followed it from day One and am very interested in the company. I can't wait until they become fully reporting (read my previous post) the stock closed at .25/.41 bid/ask today. They still project a TSE listing by Late 98, early 99 trading around $3.
Randal |
