TSX Venture Exchange
EDMONTON, Jan. 19 /CNW/ - Bri-Chem Corp. ("Bri-Chem") (TSX Venture Exchange: BRY) a leading Canadian wholesale distributor of industrial drilling fluids, steel products and services, today announced that it ranked 11th in the Fast Growth 25 over $20 Million Group for Alberta Venture's 2010 Fast Growth 50 list. "Being listed as one of the fastest growing companies in Alberta over the last three years is a significant achievement and is a tribute to the effort put in by everyone in our company," said Don Caron, President and CEO of Bri-Chem. "This is an impressive accomplishment for Bri-Chem due to the fact that this recognition comes after we have been operating under difficult economic conditions over the past few years."
Bri-Chem achieved a 361% revenue increase over a three year period. Total assets increased to $101 million at December 31, 2008, an increase of 88% compared to December 31, 2006. Over the past two years, Bri-Chem has increased to 61 employees and has expanded geographically to now include 22 distribution locations.
Bri-Chem is a wholesale distributor of industrial drilling fluid supplies and steel products and services to the oil and gas and construction industries. Bri-Chem provides over 100 domestic and foreign drilling fluid products to customers throughout Alberta, British Columbia and Saskatchewan and distributes drill pipe, carbon steel welded pipe, carbon steel seamless pipe, stainless steel welded pipe, stainless steel seamless pipe, tubing & casing, sucker rods, galvanized steel products as well as fittings and flanges. Bri-Chem's customers operate in a wide range of industries, including oil & gas, manufacturing, forestry, agriculture, construction, and mining.
Forward Looking Statements
Certain statements contained in this press release, including statements which may contain words such as "could", "should", "expect", "anticipate", "believe", "will", and similar expressions and statements relating to matters that are not historical facts are forward looking statements. Such forward looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of Bri-Chem to be materially different from any future results, performances or achievements expressed or implied by such forward looking statements. Such factors include, but are not limited to, fluctuations in oil and gas activity levels, political and economic conditions, and the demand for products provided by Bri-Chem.
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SOURCE BRI-CHEM CORP.
For further information: For further information: Don Caron, T: (780) 420-6885, F: (780) 496-9172, firstname.lastname@example.org