Nordex Explosives of Kirkland Lake reports that 2012 had its highest annual sales revenues in the 42-year history of the company.
Total annual revenues for fiscal 2012 were $14.9 million, which represented an increase of 30 per cent over same period revenues during 2011. It had a net profit during fiscal 2012 of $475,350.
Record sales revenues are attributed to securing new business in the construction and quarry industries and maintaining or increasing business with Nordex' existing customers.
“We are pleased with the increasing momentum Nordex has experienced in the last four quarters. The market reaction and wide acceptance of our proprietary line of bulk and packaged emulsion products has been instrumental in our growth,” said Jim Taylor, president and CEO in a press release.
The company has been increasing business in the construction markets and it is making progress in the Muskoka Region with its newly operational satellite site.
“We continue to work aggressively to maintain our reputation as a supplier of superior products while providing the highest levels of service in the explosives industry in Canada. We are very proud of the fact Nordex is truly a Canadian company manufacturing products in Canada for the benefit of Canadians,” he said.
