SERVICE SECTOR / BW Technologies One of 30 Fastest Growing Companies
CALGARY, Jan. 18 /CNW-PRN/ - BW Technologies Ltd. (BWT-ASE), a high technology manufacturer of hazardous gas detection equipment, has been identified as one of Alberta's top 30 fastest growing companies by analysts and Grant Thornton Chartered Accountants for Alberta Venture Magazine. From 1995 - 1998 sales for the company skyrocketed from $3,706,000 to $12,348,000, an increase of 233%! Results from more than 250 companies are featured in January's edition of the magazine and BW is one of only seven companies in high technology to make the top 30 list.
In the article, BW was also identified as one of only five companies in the province with a research and development activity growth exceeding 285%. More than six new products were brought to market then, and four more are to be launched later this spring. As the company continues to come out with better quality technology built into more cost-effective products, BW Technologies shows tremendous potential for growth. Current markets for gas detection are estimated at $300,000,000 in North America and at over $1 billion worldwide.
Among BW's innovations is the Toxyclip: a one year, zero maintenance, portable detector for oxygen. The US Coast Guard has standardized their below deck monitoring on BW Toxyclips until the year 2003.
BW Technologies designs and develops gas detection equipment for the protection of human life and facilities in industries such as: municipalities, fire rescue, waste water treatment, pulp and paper, mining and petrochemical. BW Technologies is a public company trading on the Alberta Stock Exchange under ticker symbol BWT.
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