Two Northern Ontario manufacturing companies have placed on the Growth 500, a compilation of the 500 fastest growing companies in Canada.
Growth 500 (formerly Profit 500) is an initiative of Canadian Business magazine. Companies submit their names to be vetted and ranked according to five-year revenue growth (from 2012 to 2017, or fiscal 2013 to 2018). They must have a minimum of $2 million in revenue to be considered.
This marks the fourth consecutive year that GINCOR has been included on the list. The company builds customized trucks, such as dump vehicles, snowplows, cranes and pup trailers, for a range of industries. It has locations and affiliates in locations across Canada and the U.S.
It comes in at number 227 on the list, with 313 per cent five-year growth and $20 million to $50 million in in revenue. GINCOR employs 219 people.
Fibrestick Manufacturing makes medium-density fibreboard (MDF) moulding, door jambs, baseboards and other interior finishing products for building contractors.
The company ranks 411 on the list, with 136 per cent growth over five years. Its revenue is $2 million to $5 million annually, and the company employs 18.
“We are very proud to be recognized by the GROWTH 500 ranking for a fourth consecutive year. Our dedicated team of employees are ultimately what enables us to provide our customers a superior and diverse product offering,” said Luc Stang, Gincor Werx president and CEO, in a statement.
“We continue to be committed to maximizing our flexible product diversity and support made possible by our national footprint and dedicated skilled workforce."
A full list of the Growth 500 companies is available here.