Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Page 17
Page 18
Page 19
Page 20
11 HYDOR-TECH Hydor-Tech experienced another good year in 2014. Our revenue stayed flat but our profitability was strong and we were able to eliminate our entire long-term loan making Hydor-Tech debt free.This is a great accomplishment considering the multi-million dollar investment the company made to expand the plant only four years ago.This was only achieved thanks to the dedication and commitment of our entire team and the support of our parent and sister companies. This past year we maintained our commitment to grow our business through new product development and toll manufacturing.With the maturation of our core water treatment business into the municipal and pulp and paper markets we have found ourselves with limited potential for additional growth in those areas. The goals for 2014 were based on the diversification of our product line including the development of new products for the oil and gas sector and other markets. These new products are a fundamental element in the growth and expansion of our company and they have been keeping the newly created research and development department especially busy. The second area of focus for Hydor-Tech is in toll manufacturing. Our great geographical location along with our modern production facility which is equipped to manufacture three times the volume currently being produced make us an attractive company for toll manufacturing.We have already commercialized one new customer for the oil and gas sector which has substantially added to our production volume. We have several other suppliers considering Hydor-Tech to manufacture their products for other sectors.This new and exciting area holds great promise for the growth of our company for 2015. This year we have also taken the initiative to invest in organisational development and learning opportunities for our employees.We have increased the training opportunities available to employees in safety operations and leadership.This is an on-going initiative with the goal of having a team of versatile and well- trained employees that will benefit from personal and job satisfaction. The skills and dedication of the Hydor-Tech team are the nucleus of our overall performance.This is evident when you look at the success of our company. It is an honour to work alongside the entire staff at Hydor-Tech. Dan Malbeuf Sales 9559000 Current Assets 2269000 Total Assets 8864000 Ownership 80