At present, National Steel Car is one of the leading manufacturers of rail cars in Northern America and across the globe. The company started in 1912 and started as a flourishing business that went beyond the expectations of its investors and founders. The only setback that happened was when the Great Depression began in 1929 and took place most of the 1930s. At that time, the company was unable to secure large orders to defray the company’s monetary needs and meet the diversified requirements of existing and potential clients. In 1960, Dofasco, a steel mining firm located in Ontario bought National Steel Car.
Greg James Aziz is the present President, Chairman, and Chief Executive Officer of National Steel Car. He was schooled at Ridley College and took his Economics Degree from the Western Ontario University. Then he worked with the family’s business, Affiliated Foods in 1971. The family business is an international food importer of food from countries in South America, Central America and Europe, and has distributes the imported produce to major wholesale outlets located in Easter Canada and the whole of the United States.
Subsequent to working for their family venture, Gregory Aziz left for New York City and found employment with numerous banks in the city. When 1994 came, he purchased National Steel Car from its then current owner DOFASCO. After he acquired the company, Gregory Aziz found out that despite the excellent engineering skills present in the company it could only produce 3,500 cars in one year. Wanting to make National Steel Car a leading rail freight car in Northern America, he added more capital to get the company off the ground, and at the same time hired more employees. Go Here for more information.
By 1999, National Steel Car is already able to yield 12,000 cars yearly and the number of its workers grew from 600 to around 3,000. The excellent engineering ingenuity and innovative capabilities of National Steel Car has earned the ISO 9001:2008 certification and the TTX SECO award consistently.
Greg Aziz states that the ultimate assistance he and his company can give to the community of Hamilton and the surrounding areas is to consistently provide employment that has good pay and benefits. And to show gratitude for the community that has been with National Steel Car through the years, Greg Aziz and his family sponsors numerous local charities including the food drive activities of the local food banks within the vicinity of Hamilton, Ontario.
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When Penn West was coming into the energy market many years ago, it had no idea the kind of future that was waiting for it. The organizations put in place all the necessary measures to ensure that there was success at the end of the year. Investors from all areas of the United States were interested in the company because they knew that the future was going to be bright. People who came across the company portfolio were excited because of the kind of results they were getting. The markets, however, changed after a short time. Things started changing when the energy market started experiencing losses.
Penn West was not ready for some of the challenges that presented themselves after just a short time in the market. Investors started getting worrying profits at the end of the month. To make matters worse, the company was slapped with a fraud case that involved the financial department of the institution, and things were only getting worse each passing day. For Penn West, huge debts started streaming in, and this marked the start of many challenges. Get Additional Information Here.
The leaders of the energy company met with investors in Penn West so that they could come up with the solution the company was facing. Being in debt has never been a great thing for any organization. Penn West has had to work day and night to clear its debts and also clear its fraud case. The initiative started several weeks ago when the organization decided to rebrand. According to the company president, the company will even get a new name.
Penn West will now be using the name Obsidian Energy. The company officials sat down and had a lengthy conversation before they could arrive at this conclusion. Obsidian Energy represents a very strong and extremely durable glass material that can withstand all the tough changes in the climate. Penn West knows that it will be able to associate with the behavior of this glass material in the future, a sign that it is ready to reform. Penn West has announced that the changes will be effective immediately after the company has presented the papers in the relevant authorities.
Currently, the company has approximately 300 employees on staff. Still the company has several subsidiaries including Canetic Resources Trust, Endev Resources Partnership, and Sifton Energy Inc.
See Also: http://calgaryherald.com/business/energy/restructured-penn-west-proposes-name-change-to-obsidian-energy
Gregory James Aziz is an amazing member of his community and a skilled businessman. Not only does his participation in a lot of philanthropy through his company, National Steel Car, but he and his wife Irene are major sponsors of the Royal Agricultural Winter Fair. National Steel Car is a major employer in the community of Hamilton, Ontario as well. The freight car engineering and manufacturing company may be one of the world’s best, but Aziz and his team do not forget about the people around them. Every year, the company hosts a large Christmas party for over 3,000 employees and their families. This gives them a chance to show their workers how much they truly appreciate them.
In addition to their company charity, National Steel Car does a food drive during its Christmas party to help those that are less fortunate. Aziz and his company are also patrons in the community for the Theatre Aquarius, The Hamilton Opera, the Salvation Army, the United Way, and a host of other charities locally. They take their position in the community very seriously, because it is in part responsible for their success. Every single worker matters to CEO Gregory Aziz. Since he took over the company in 1994, the National Steel Car family has been his passion.
Greg Aziz was born in London, Ontario in 1949. He joined the family business, Affiliated Foods, in 1971 after receiving a degree in Economics from the University of Western Ontario. This was where Aziz started to cut his teeth in the business world and where he earned his very first successes. When he first came across National Steel Car, it was not the bustling business that it is today. The company had been on the decline for several years and the owner, Dofasco, was looking to unload it.
James Aziz saw potential in the company. He wanted to turn it into something that the entire community could be proud of. He purchased it and immediately started hiring people. He took the time to train them, pushing for higher quality products and well as better training. Eventually, he turned the small 600 worker facility into the booming business that it is today. While Aziz may be a successful global titan now, he has never forgotten about where he came from. This is one of the reasons why he and his company are so philanthropic in this area. If there is one thing that Gregory Aziz knows, it is that success starts with the community. Read This Article to learn more.
The Great Depression is a period in the history of the world characterized by a disastrous economic meltdown which swept the globe during the 1930s. In North America, the stock market crashed, and the value of investments plummeted. This phenomenon gravely affected businesses, and thousands of small and medium sized enterprises became bankrupt and closed down. As a result, millions of people were left jobless, and they had a hard time feeding their family because there is no income coming in. The Great Depression spread all over the world like a pandemic, leaving economists in shock as they never imagined the event to become this disastrous. Luckily, the global economy normalized after the devastating Second World War, and most companies started all over again. However, some companies managed to endure the economic meltdown in the 1930s, and one of them is the National Steel Car, a Canadian rolling stock manufacturing firm.
The National Steel Car was founded in Hamilton, Ontario in the year 1912. Private individuals from Hamilton established the company because they have seen that rolling stocks would be in demand once the construction of the Trans-Canadian Railway ends. The founders of the National Steel Car were right – rolling stocks became in demand, and the business for the company is doing great. The founders never imagined that the golden age they experienced in the 1920s would become a total opposite in the next decade. As the Great Depression swept every city and country across the globe, the National Steel Car struggles to survive. They manufactured different kinds of products, aside from rolling stocks, just to stand still. The founders of the company never imagined that the National Steel Car would experience this kind of crisis, but they never surrendered and continued on operating. Go Here For additional information.
It was during the end of the Second World War when the National Steel Car managed to bounce back. The company was purchased by Dofasco in the 1960s, and almost 30 years later, another crisis hits the rolling stock manufacturing industry. Dofasco sold them because they thought that keeping the National Steel Car would be a gamble, and the company fell into the hands of Gregory James Aziz. Gregory J Aziz is a financial entrepreneur, and he explained that he wanted to get his hands on to the National Steel Car because of its rich history, and because he wanted to turn the struggling company into one of Canada’s most successful. Greg Aziz successfully transformed the National Steel Car into one of Canada’s most successful companies today.
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The Obsidian Energy was established in June 2017.The partners of the company exhibited passion in their work. The company transacted its business with the communities, shareholders and the partners. David French gave an inspiration that the change of the name was due to Obsidian Company’s natural glass and could be sharpened and honed easily. He also acted as the Chief Executive Officer of the Obsidian Company.
The organization crafted provided the platform for delivering the results from the bottom line and spirit for entrepreneurs to excel in the industry. Originally, the energy company was known as Penn West Petroleum Limited. The Obsidian Company later offered three- quarters of the operational and financial results of 2017.
David French who is the Chief Executive Officer and the President congratulated Obsidian Company for its hard work. The drilling of oil forays in the previous years recorded high results as they proceeded to 2018 expecting the same results. Presently, the company has three wells producing two thousand bales of energy in a day. The Obsidian group overpowered all the oil refining companies that time.
The Peace River Oils Sands, Alberta Viking, Pembina Cardium Projects and others gave high information rates motivating other companies to continue funding the thriving projects. The Obsidian Company predicted good results during the year, where the production increased from 30,500 up to 31,500 in a day of the product range. Eighty percent of the flow of funds from the operations will boost the production in 2018. David French said that the company has prospects ready for drilling and conducting its operations to exceed the available five percent more regulating the second program on oil prices.
The Board Budgeted 135million dollars in the year 2018 for running the drilling opportunities. The board provided the dependable and scalable profile for 2017 third quarter information of the company. This enabled production in a day in the third-quarter to be30, 166 bales of energy. The Obsidian Energy and the French organization made an agreement on selling their interests to the Eastern Alberta in the year 2017 worthy 40 million dollars.
The Chief Executive Officer was confident that the company would achieve double percentage between the fourth quarter of 2016 and 2017 un-indebted. David French predicted more opportunities in development.
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This public oil and gas company, formerly named Penn West Exploration Ltd, was established in 1979 and it operates from Calgary, Canada where its headquarters are situated. The name was successfully changed after the shareholders agreed. It has been among the 60 largest companies on Toronto Stocks Exchange. Its oil fields are spread all over the Alberta region. The employee team led by their president and CEO, David L. French, is made of about 300 people. David French said they chose the name Obsidian Energy because the volcanic glass that bears that name can be sharpened and honed.
For more than five years, Obsidian Energy was a Canadian Royalty Trust (CANROY) member and realized a high market capitalization of $9.5 billion in the year 2008. In 2011, it changed its operations from CANROY to a corporation. Its daily production of oil is projected to 28,000 barrels in 2017. The CEO states that the success achieved in the recent past is a result of the busy drilling campaign in specific areas.
The company’s production of liquids is measurably above the expected levels in the economic market, and the team behind these results is determined to increase the production in 2018. Obsidian Energy has already announced a substantial budget for the coming year which translates to a 5 percent growth in production. The company has previously carried out asset sales and minimized its workforce to increase production. Currently, the company runs on its own generated cash. See This Page to Learn More.
In 2018, the production will increase to 31,000 to 32,000 barrels per day from the current 28,000. If the company will sell a barrel for 14 dollars and minimize expenses, the returns shall exceed those attained in 2017. Its cash flows are growing steadily, and commodity prices have a good yield. Its trading strategies are meant to enable the oil company to pursue a modest return over the coming years.
The leadership notes that all information in the 5-year projection is based on assumption and its success is, therefore, a factor of the risks that any business faces. However, its 2017 third-quarter results are the perfect display of Obsidian’s achievements in 2018.
Related Article: http://calgaryherald.com/business/energy/restructured-penn-west-proposes-name-change-to-obsidian-energy
With its headquarters in the City of Calgary, Obsidian Energy is a medium-sized oil and natural gas production company. The Canadian firm is publicly-listed on both the Toronto Stock Exchange and the New York Stock Exchange. Originally founded in 1979, the company has experienced structural changes over the course of its history. Before shareholders voted in the name change to Obsidian Energy, the firm was previously known as Penn West Petroleum Ltd. The Company boasts ownership of oil reserves in the province of Alberta- one of the world’s richest oil reserves. Although the Company has scaled down its oil production over the past few years, it is still reported to produce an astounding 31,000 barrels per day!
Home to hundreds of dedicated employees, Obsidian Energy is driven by passion and complete accountability to their stakeholders. Also, worth noting is that, at the helm of the company’s organization structure sits an elite team of experts in the fields of oil exploration, production and general mining. These individuals with vast experience and immense technical know-how are pooled together to form Obsidian Energy’s Management Team. To continuously foster the growth prospects of Obsidian Energy, the company’s Board of Directors pools experts from disciplines such as Finance, Technology, Banking and Law. This also attracts potential stakeholders who may have an interest in any of these fields into the company.
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Another advantage brought about by this diversification of the company’s Board of Directors is the exposure to different perspectives. The firm will always benefit from having a multi-faceted approach to issues facing them. This is accredited to the different specialties the Directors bring into the company. Hypothetically speaking, Obsidian Energy is in a position to develop their own internal solutions to most challenges facing them.
In addition to being a promising investment option, Obsidian has also taken the initiative to positively influence society. The firm has done this by ensuring minimal environmental degradation during mining activity. Their oil production activities are guided by stringent environmental preservation principles such as appropriate abandonment of mines and mine reclamation.
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|Obsidian Energy; formerly Penn West Petroleum Ltd., is a Canada-based natural gas and oil production organization whose reputation has grown over the years. The firm is a public company, previously known as Penn West Energy Trust. Since its founding in 1979, Obsidian Energy has expanded in each aspect including in its workforce. At the moment, the Calgary-situated company hosts almost 300 employees. Besides acquiring a peak in the organization’s labor input, Obsidian Energy has experienced other achievements concerning increase in monetary value and its reputation. For seven years, the group was considered a Canadian Royalty Trust and grew to its peak in 2008 when the company’s market capitalization was approximately $9.5 billion. Obsidian’s proximity to petroleum reserve locations has contributed to its success in its respective industry.
The company began its new chapter when it attempted to change its name from Penn West to Obsidian Energy Ltd. In conjunction to the altering of the name, Obsidian Energy’s stock symbol also transformed to OBE in each stock market. Obsidian Energy Ltd incorporated three major principles that would guide the organization towards the attainment of success. The first element entailed the incorporation of technical and disciplined commercial decisions for the protection of the value of the enterprise. Other principles are the continuous pursuit of excellence and the element of transparency with the company’s shareholders. See This Article to Learn More.
According to the President of Obsidian Energies, David French, the firm is equipped with the required assets and an effective strategy that will give a chance to the organization to experience transformation in its new chapter. In addition to the change of the enterprise’s title, the shareholders approved all other resolutions that were outlined by Obsidian. Additionally, Obsidian Energy’s choice of the current name was motivated by its natural explanations that emphasized the occurrence of volcanic procedures that can be sharpened. Under the guidance of David French, Obsidian Energy will take a new trajectory leading it to greater heights. The adherence to its set principles will over short period yield positive results, including the gaining of the expenses used to pay the organization’s debts. At the moment, Obsidian produces 28,000 oil barrels daily.