Head Office
Here is a rough breakdown of TEI's sales by region for FY24:
Mainland Europe: 7.15 MM
UK and Ireland: 6 MM
USA: 10 MM
Canada: 1.5 MM
Canada only represents about 6 percent of the company's FY24 sales, and this is up a decent amount over FY23. This begs the question of why the head office is in Canada? It's clearly not tied into some big spigot of Canadian subsidies or government contracts. Why not move it down to PA? Especially with Trump coming back to power. The company could take advantage of the "Buy American" policies that are surely to come as well as the lower taxes. Keep in mind that Bill doesn't even live in Ottawa anyway.
Another question that this brings up is why are all the directors Canadians? (At least I think that they are). What are they bringing to the table if most of the company's business is outside of Canada?