RE:RE:interesting read , not on TMG , on steam from Bronte CapitalWhen TEI acquired GEM back in 2008, GEM had annual sales of 3.2 Million CAD. TEI was supposed to be able to significantly boost these sales because they could sell steam traps to their existing client base which was large even back then. Flash forward to today, and what do you think annual GEM sales are?
They don't actually break them out for the public, but I would think that they would be in the 6-7 million range. Over the 16 year timeframe, that would probably work out to something like a 4% annual growth rate before inflation. Strip out inflation, and that might end up being a 1 or 2% growth rate. What went wrong?