Canadian Stock Profiles| Canadian Stock Profiles |
| A rolling stone gathers
no moss, they say. But for Rivière de Loup, Quebec's
Premier Tech Ltd., moss is what keeps them rolling. They
are, in fact, one of the world's leading producers of
sphagnum peat moss, potting soils and other growing
media. The company manages 19 peat bogs and operates 15 screening and bagging plants, mostly in Canada. But its markets extend throughout the world. 16 million bags are shipped annually to Europe, Asia and the Americas. But while its Premier Horticulture Division generates two-thirds of its business, Premier Tech also has five other related interests. Premier Packaging manufactures and markets materials handling, palletizing and packaging systems. Its Environmental Division operates two companies - Premier Tech Environment is involved in wastewater treatment with its Ecoflo® system while Erin Systems designs, manufactures and markets mobile and fixed sizing and screening systems for everything from compost and bark to construction and demolition waste. Premier Tech Biotechnologies Division develops products to enhance plant growth and disease resistance. And it has an in-house industrial division manufacturing equipment for use in its other divisions though some outside work is done as well. The company has been around for 75 years and employs 1300 engineers, chemists, agronomists, technicians and sales representatives. Although revenues increased for the year ending May 27, 2000, profits were hit hard by non-recurring costs related to restructuring and a writeoff. The company had invested $1.5 million in German company FTH Partners Holding GmbH, but negative performance prompted the writeoff. But the company did retain all of FTH's patents. The First Quarter of Fiscal 2001 to August 26, 2000 showed an 18.0% increase in revenues and a 271.4% increase in earnings before taxes. But past tax liabilities reduced the earnings per share to the same as the previous year's First Quarter - $0.01 share. With one time restructuring, writeoffs and tax liabilities behind them, the company is poised to advance in the months ahead. Shares Outstanding: 15,051,958
Address: Phone:
418-862-6356 This page first posted: Nov. 5, 2000 |
Stock Symbol: PTL.A (TSE) Profile News: Forums: |