RE: gross margin has increased by 300% - easier toPertinent Information relating to Current Operations
Revenues have increased by about 7% and gross margin has increased by 300% compared with the previous year.
Key marketing and sales developments include:
• Water-borne Coatings: As the market moves towards a more environmentally friendly product demand, we have developed a waterborne iso-cyanate free topcoat with properties approaching those of our Armaglaze range. This is currently being marketed and sold as a clear coat, and we are developing a tinted version.
• Tim Hortons: Armaglaze has been approved and successfully applied in a number of locations.,most recently in the Toronto and surrounding area. We expect this relationship to grow in the next 12 months.
• ICI/Glidden Paints: We have a strong, and growing, relationship with the ICI group in Canada.
• New York City Transit: Blue Steel Primer is specified by and supplied to this Authority on a regular basis. Other products (including Armabrite) have also been granted approval for future specifications.
• Electromotive Canada: This manufacturer of diesel powered locomotives has specified Suretred anti-slip coating on all units manufactured by plants in London, Ontario, Kentucky and in Mexico.
• Peoples’ Republic of China: Samples have been sent to China, and products have been approved. We have been approached by a property development company in north-west China, which is planning to send a representative to Canada shortly to discuss their specific requirements.
• Medical Center in Brooklyn, NY: Specifications, featuring our products, have been submitted by the architects for this large restoration project. This is pending approval by the local Health Authority.
• Danier Leather: Armaglaze was used for a major floor restoration project at the company’s corporate offices and showroom.
• Mural Projects: We have supplied product for the protection of a number of large mural projects, including a mural in Thorold extending along a section of the Welland Canal
• Dofasco (now part of the Arcelor-Mittal group): Trend Silicone Alkyd is used for the company’s maintenance-painting program