Edmonton-Based ZCL Composites Grows Its Fibreglass Storage Tank Business
OCT 28, 2013
EDMONTON - Its products will never generate the same kind of buzz as the latest new iPhone app, but ZCL Composites has something few Alberta tech firms can match.
Namely, growing revenues, earnings and profit margins, proprietary products with global reach, and juicy growth opportunities in three distinct markets.
He’s hoping to change that. Non-corroding fibreglass tanks are fast replacing steel tanks, the industry standard of 30 years.
Investors have taken notice. After gaining 35 per cent over the past year, ZCL's shares closed Monday at $6.60 apiece on the Toronto Stock Exchange, the highest level since October 2008.
Ron Bachmeier, the veteran senior executive who succeeded Rod Graham as CEO in August 2012, says the upswing reflects ongoing efforts to cut costs, streamline production processes and expand in its three core markets.