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ON THE RIGHT TRACKS
Welcome to our 32nd edition of North America Outlook.
North America’s rail freight industry has evolved over the last few decades, witnessing consolidation, efficiencyfocused strategies, and technological advancements.
On the tracks of this issue’s front cover is Patriot Rail, a leading operator of short-line and regional freight railroads and rail service companies throughout the US.
One way the company is advancing growth in the rail freight sector is through industrial development, having partnered with the new Rocky Mountain Rail Park.
Elsewhere, Patriot Rail is also establishing a new industrial park in Denton, Texas, in partnership with Canadian Pacific Kansas City on its main network.
“This multi-commodity transload facility will provide reliable, competitive transload services and logistics solutions to customers in the Dallas-Fort Worth metropolitan area – one of North America’s fastest-growing regions,” outlines CCO, Tom Tisa.
Whilst rail freight connects businesses and markets across the continent and overseas, SaskTel connects the Canadian province of Saskatchewan.
The Crown corporation reinvests directly into the communities it serves, enabling access to advanced technologies like fiber optics and 5G across urban and rural areas.
With its unique blend of provincial ownership, deep local commitment, and comprehensive suite of innovative services, SaskTel stands out as Saskatchewan’s leading communications provider.
“In total, we manage over 1.4 million customer connections across the province, supported by our extensive networks,” informs Charlene Gavel, President and CEO.
From Canada to Grenada, whose non-bank financial sector is overseen by the Grenada Authority for the Regulation of Financial Institutions (GARFIN).
GARFIN is dedicated to building and maintaining public confidence in Grenada’s financial system by ensuring its integrity through diligent regulation and thorough supervision of designated non-bank financial institutions.
“As a regulator and supervisor, we strive for a safe, sound, profitable, and well-functioning financial sector that can withstand shocks and contribute positively to the people and economy of Grenada, Carriacou, and Petite Martinique,” details Denis Felix, Executive Director.
This issue also tracks the latest developments from the Financial Services Commission, Galaxy Builders, New Pig, and more.
We hope that you enjoy your read.
Jack Salter Head of Editorial,
Outlook Publishing
Fortifying Grenada’s Financial Future
Stability Through Regulation
Safeguarding the stability of Barbados’ financial markets
CONSTRUCTION
Out-of-this-World Projects
Building
places through trusting relationships
Securing
LULULEMON’S GAMECHANGING TOUCHDOWN
LULULEMON IS PARTNERING with the NFL to launch a new apparel collection featuring the logos of all 32 teams.
The collaboration marks the first time the Canadian fitness retailer has offered officially licensed NFL products.
The range will feature both men’s and women’s clothing and accessories, including notable
Lululemon products such as the Steady State line and popular signature styles such as the Define, Scuba, and Align. Following the announcement, Lululemon shares rose by more than three percent.
NFL legends such as Joe Montana, Nick Foles, Ryan Clark, and Emmanuel Acho are featured in the brand’s campaign, spotlighting the families behind the athletes.
ONE BATTLE AFTER ANOTHER
ACTIVIST INVESTORS ARE battling underperforming US banks with a strategy to shake up the sector.
HoldCo Asset Management (HoldCo), a nine-person hedge fund, is challenging lenders with more than $200 billion in combined assets, demanding swift action or risk public campaigns to oust their boards and
ELEMENTS IGNITE AGREEMENT
US PRESIDENT DONALD Trump and Japan’s newly elected first female Prime Minister, Sanae Takaichi, declared a “golden age” for the US-Japan alliance during their recent meeting in Tokyo.
Takaichi expressed her commitment to strengthening ties and signed a deal on rare earth elements and other critical minerals, which are needed for consumer electronics, defense technologies, and medical equipment.
Trump, on a tour of Asia to negotiate a trade deal with China, emphasized the vital partnership in business and defense, stating the alliance is at its “strongest level”.
The prosperous agreement comes in response to China’s new restrictions on rare earths, amid Trump’s threat to impose 100 percent tariffs on Chinese imports.
fire their CEOs.
HoldCo achieved a significant win this month when Comerica agreed to a $10.9 billion acquisition by Fifth Third, marking the year’s largest bank merger.
Following this, HoldCo has targeted two smaller banks, Eastern Bank and First Interstate, and is now planning a proxy battle against Columbia Bank, which has $70 billion in assets and 350 branches, unless a deal is reached with management.
A PRESCRIPTION FOR SPEED
ELI
LILLY AND COMPANY
(Eli Lilly) is partnering with Nvidia to build a supercomputer designed to accelerate drug discovery and expedite development timelines, enabling medicines to reach patients more quickly.
Other applications for the technology include manufacturing, medical imaging, and enterprise artificial intelligence (AI) agents.
AIRLINE TO SOAR ABOVE RIVALS
AMERICAN AIRLINES
(AMERICAN) is working to enhance its luxury appeal and boost profits, aiming to win over both customers and investors after falling behind Delta Air Lines (Delta) and United Airlines (United).
Reimagining its first-class experience, American is expanding Business Class across all aircraft, has recently begun serving Bollinger champagne in its top-tier lounges and cabins, and has partnered with Lavazza for in-flight coffee.
Additionally, its new Business Class suites on Boeing 787 Dreamliners
Scientists will train AI models using millions of experiments to evaluate potential medicines, thereby broadening the scope of drug discovery initiatives. BioTech companies now have access to drug discovery models created from Eli Lilly’s years of research data.
Drug developers are increasingly adopting AI technologies for discovery and safety testing to achieve faster and more cost-effective results, aligning with the U.S. Food and Drug Administration’s goal of reducing animal testing in the near future.
feature sliding doors and larger screens, and there are plans to increase the number of crew members.
So far this year, Delta has made $3.8 billion and United $2.3 billion, while American, which offers more flights than any other airline, accounted for just two percent of the profit the three biggest US carriers generated so far in 2025.
HALTING HOLIDAY HORROR
AIRBNB DEPLOYED ANTI-PARTY technology over the Halloween weekend to prevent large gatherings at its US and Canadian properties.
The technology evaluates factors such as length of stay, guest location, property type, and booking dates to block higher-risk reservations.
Last Halloween, Airbnb prevented about 38,000 bookings in the US and 6,300 in Canada to reduce such events. The company has previously used similar measures on other holidays like New Year’s Eve and Memorial Day.
Since enforcing a party prohibition in 2020, the number of reported celebrations has halved.
The ban became official in 2022 following a tragic shooting incident in 2019. Airbnb is committed to suspending or blocking accounts that violate this policy and provides safety features for hosts, such as a 24-hour hotline and noise sensors.
A BEVERAGE BOOST IS BREWING
TACO BELL IS launching Live Más Cafés in existing restaurants, featuring drinks like frozen coffees and lemonades.
By the end of 2025, the chain plans to have 30 such locations in Southern California, Dallas, and Houston as part of its goal to build a $5 billion beverage business by 2030.
Up to Q3 2025, Taco Bell has sold over 600 million drinks, a 16 percent increase from last year, with over 60 percent of orders including a beverage.
The strategy aims to attract younger customers, who are expected to amplify their spending power.
THE CROSS-BORDER BALANCING ACT
Milton Magos, Vice President – Mexico at TRAFFIX
– a North American logistics company specializing in cross-border supply chain solutions for the US, Canada, and Mexico – discusses strategies to assist importers and exporters in moving freight from the US to Mexico in today’s challenging logistics landscape
Writer: Milton Magos, Vice President – Mexico, TRAFFIX
For importers and exporters between the US and Mexico, the border is both a gateway and a gatekeeper.
Freight keeps moving only when three fundamentals stay aligned –accurate documentation, prepared people, and capacity matched to time. When one slips, every schedule and promise downstream pays the price.
True reliability is built on coordination. It happens when teams, paperwork, and timing work in unison instead of in reaction.
Cross-border freight now accounts for more than 70 percent of North American trade by volume.
Every minute lost is multiplied across networks, delaying production lines and customer promises alike.
As nearshoring accelerates, the ability to cross consistently is no longer just an operational strength – it is a strategic advantage.
The companies that master consistency will set the pace for the region’s next decade of growth.
ESTABLISH A STEADY FLOW
Reliable crossings depend on pace, not improvisation. Think of the border as a production line that runs on steady inputs and predictable handoffs.
When trucks arrive in bursts, congestion takes control. When movement stays steady, efficiency returns.
The most reliable operators treat their appointment calendars as living systems. They review them weekly with carriers and facility managers, adjusting flow before problems surface.
When this consistency becomes visible to everyone involved – shipper,
carrier, and consignee – waiting time fades and control returns.
This flow can be sustained by creating one source of truth. In other words, bringing together all item data, origins, routes, license plates, drivers, and consignee details in a single shared view – fragmented information is what destroys coordination.
In addition, matching appointments to your facility’s actual throughput, not a theoretical maximum, helps to schedule to real capacity. Each slot is a resource that must be protected.
Using a short pre-clear checklist to confirm that documents, license plates, and drivers are validated before departure can also help. A few minutes of prevention can save hours of delay.
Targets: Aim for appointment adherence above 95 percent, checklist completion at 100 percent, and weekly exception reviews with a documented root cause.
Avoid: Try to avoid booking extra appointments ‘just in case’. Once appointment capital is wasted, it cannot be recovered.
PREPARE THE PEOPLE
No system holds its rhythm without people who understand it; the dock, yard, and border hand-off depend on teams that know exactly what they own.
Therefore, defined roles and escalation paths should be demarcated so that everyone knows who makes each decision and when.
In addition, procedures should be kept bilingual and visible, and every shift should begin with a short border briefing that reviews appointments, exceptions, and customs updates.
People keep operations steady when they have information.
When a dock coordinator updates plate numbers in real time or a dispatcher flags a customs delay before it snowballs, that awareness synchronizes the entire operation.
Good training builds reflexes – not just compliance – and turns data into action.
Targets: Work to complete training and procedure acknowledgment for all staff, and respond to escalations within 15 minutes.
Avoid: Don’t assume experience equals alignment. Even seasoned teams need clear directions to act quickly.
MATCH CAPACITY TO THE CLOCK
The border moves in cycles. Volumes rise and fall by hour, day, and direction, and the best operators anticipate the rhythm and shape capacity around it.
They build flexibility into their networks, adding short-term capacity buffers when seasonal peaks approach, scaling down efficiently once they pass – they plan accordingly rather than react quickly.
Planning time blocks for peaks and keeping enough drop-andhook trailers to absorb variability is important, as is aligning service agreements with what operations can truly deliver as opposed to what forecasts hope for.
Targets: Keep door utilization between 80 and 90 percent, yard dwell under 24 hours, and on-time arrival above 95 percent.
Avoid: Don’t chase peaks without buffers. When dwell time expands, recovery becomes costly.
MEASURE THE PATH, NOT JUST THE FINISH
A successful border crossing is more than a final timestamp, so tracking every stage before, during, and after the gate is crucial. Each phase reveals where control strengthens or weakens.
Grouping exceptions by type –whether this be documentation, assets, capacity, or customs –combined with regular weekly reviews can help to address root causes each month.
The strongest shippers turn these reviews into collaboration sessions with their carriers and brokers.
Transparency replaces firefighting, and when everyone sees the same metrics, accountability turns from pressure into performance.
Targets: Work to keep exceptions per 100 loads decreasing month after month, and zero repeat issues on the same lane.
Avoid: Stop focusing only on outcomes – what is not measured cannot be improved.
STRATEGIES YOU CAN ACTIVATE TODAY
Reliability can be written into agreements, so beginning with the following elements is a great starting point:
• Clearing service terms for appointment adherence and exception resolution.
• Establishing minimum standards for data sharing, including license plates, drivers, estimated times of arrival (ETAs), and document status.
• Devising incentives that reward rhythm and discourage disruption. The goal is to turn reliability into a shared currency. When partners agree on what success looks like and commit to measuring it, coordination becomes enforceable rather than aspirational.
QUICK WINS TO START NOW
• Create a shared source-of-truth dashboard within two days.
• Publish the pre-clear checklist to all partners.
• Confirm the next two weeks of appointments based on real capacity.
In the end, the border is not a barrier but a mirror. It reflects the discipline, alignment, and foresight of the supply chains that approach it.
The companies that operate with balance and control will define the next decade of North American trade.
When documentation, people, capacity, and visibility move as one, the crossing transforms from a daily struggle into a competitive advantage.
Predictability is not perfection – it is performance, and what keeps freight moving in both directions.
At TRAFFIX, we help importers and exporters move freight with the consistency the border demands.
Our cross-border teams in the US, Mexico, and Canada work as one to keep shipments predictable, visible, and on time.
ABOUT THE EXPERT
Milton Magos is Vice President – Mexico at TRAFFIX, leading operations in the country with a focus on cross-border logistics and market growth.
With decades of experience in US-Mexico trade – including leadership roles at UPS – Magosis a visionary strategist dedicated to building empowered teams and advancing nearshoring logistics solutions.
The global resource for supply chain professionals and organizations
As supply chain organizations worldwide confront unprecedented change, embracing technological innovations and incorporating critical environmental sustainability agendas, now more than ever is the time to showcase the strides being taken in this dynamic sector.
A multi-channel brand, Supply Chain Outlook brings you the positive developments driven by organizations across the global supply chain industry through its various platforms.
Discover exclusive content distributed through its website, online magazine, social media channels, and dispatches delivered straight to your inbox with a bi-weekly newsletter.
Through these compelling media channels, Supply Chain Outlook will continue to foreground the movers and shakers of the industry.
To participate as a featured company and join us in this exciting endeavor, contact one of our Project Managers today.
Next-Generation Energy Technology
As it oversees North America’s first gas-to-liquids facility, Cerilon is in a unique position to enable the continent’s energy transition. We sit down with CEO, Nico Duursema, who reflects on how the company is creating a new domestic source of energy products from natural gas, reducing national reliance on foreign imports, and providing environmentally cleaner products
Writer: Lily Sawyer
North America Outlook (NA): Firstly, what is your take on the energy industry in North America today, and how have you seen it evolve over the course of your career with Cerilon?
Nico Duursema, CEO (ND): The energy industry is facing a number of unprecedented challenges, including responding to and leveraging new and rapidly changing technology, increased environmental responsibilities and regulatory scrutiny, recruiting and retaining talent, and aligning with evolving societal expectations about how energy is produced and used.
The convergence of these challenges is disruptive and complex and necessitates new business models, tools, and thinking.
In a world full of change and uncertainty, it is of utmost importance that we communicate a clear vision, embrace our values, and adapt for the future by adhering to fundamental principles, aligning with like-minded partners, and focusing on new skills and competencies.
I view these challenges as opportunities for those willing to take ownership of their future. Those who have the courage to lead through rapid change, act as good stewards of our resources and the environment, and approach their efforts with excellence will succeed in the energy industry today.
We must focus on what’s possible, take accountability for achieving our objectives, and be ready to make decisions quickly.
Right now, we are experiencing a very positive business environment in North America that is aimed at supporting growth, but the turbulence of rapid change remains. We must shift from old ways of thinking – especially on the eve of rapid artificial intelligence (AI) expansion – and change the way we do business.
The new technology era we are entering challenges regulators, political decision makers, and industry organizations to provide the guidance and governance needed to manage this change effectively and efficiently. It is also straining existing infrastructure that needs to be updated and expanded to accommodate the computing capacity needs we are already seeing.
In my view, all of this creates unprecedented opportunity for companies like Cerilon with a strong vision for the future and the ability to deliver.
We see significant opportunity for us to be a leader in the energy transition by providing industry leading thinking, tools, and products.
NA: As a company delivering high performing products to the agricultural, industrial energy, digital, defense, and transportation industries, could you provide an overview of Cerilon and its role in North America’s energy transition?
ND: Our role in North America’s energy transition comes from the products we produce and how they
are used, as well as how we integrate technology into our business.
Cerilon’s products offer improved environmental performance and have applications across key industries including agriculture, defense, transportation, and the rapidly expanding digital infrastructure business.
Our advanced digital integration platform is creating a strategic solution for not only our North Dakota facility but also for any industry with complex data management needs. For these reasons, Cerilon is wellpositioned to play a key role in the energy transition.
We will be the first large scale producer of gas-to-liquids (GTL) Group III+ base oils in North America and will reduce the need to import
these products.
Top-tier GTL Group III+ base oils have a number of important attributes that position them to play a critical role in the energy transition.
The incorporation of carbon capture storage (CCS) results in Cerilon GTL base oils having the lowest carbon footprint of all GTL facilities globally.
This, combined with additional greenhouse gas (GHG) reduction benefits during their use, results in substantial GHG savings compared to conventional products produced in North America.
Production of GTL Group III+ base oils from natural gas has a short and simple value chain with a high yield –approximately 25 percent – compared to baseline processes.
This delinks base oil manufacture from the crude oil refining system and allows for ‘on-demand’ manufacture of these advanced base oils. This manufacturing advantage allows Cerilon GTL base oils to support the transition away from crude-based energy systems and oil refining.
Use of these top-tier GTL Group III+ base oils increases engine efficiency and creates fuel and GHG emission savings.
These base oils will have many uses in the energy transition targeting lower-carbon applications, including as specialty fluids in hybrid electric vehicles, high-quality lubricants that improve fuel efficiency for gasoline-powered engines, and industrial lubricants in a wide range of applications including as immersion cooling fluid for data centers.
GTL products contain negligible amounts of aromatics, polycyclic aromatics, sulfur, and nitrogen. These qualities, superior to conventional analogues, offer air quality benefits, low toxicity, and a level of stability that is particularly advantageous in confined applications, sensitive aquatic environments, or where longterm storage is required.
Cerilon’s ultra-low sulfur diesel, in particular, offers these advantages as a ‘drop-in’ alternative for crude oil-based diesel that offers a higher cetane level and cleaner engine burn
with reduced emission levels. Unlike conventional diesel, GTL diesel is non-toxic, nearly odorless, and readily biodegradable.
We believe our products directly support the energy transition, but so does how we design and operate our facilities.
We are building a platform that will enable us to rapidly expand and diversify our business. This platform includes the integration of systems, data, and decision support capabilities with a plug-and-play approach to enable future technology developments.
Our integrated systems and data centrality approach for business and operations enables the application of machine learning (ML) and AI tools to create a leading-edge decision toolbox.
This approach incorporates state-of-the-art models and a comprehensive digital twin. These tools allow for rapid optimization of processes and operations, with instantaneous decision support across the entire business.
The digital twin allows us to run simulations that support both training and scenario planning for continuous improvement.
These tools improve the availably and reliability of our facility, which directly results in efficient use of resources and improved economics.
“GTL products contain negligible amounts of aromatics, polycyclic aromatics, sulfur, and nitrogen. These qualities, superior to conventional analogues, offer air quality benefits, low toxicity, and a level of stability that is particularly advantageous in confined applications, sensitive aquatic environments, or where long-term storage is required”
– NICO DUURSEMA, CEO, CERILON
NA: Could you share some key details about your GTL North Dakota project and how it will transform natural gas into low-carbon, high-value synthetic energy products?
ND: Cerilon GTL North Dakota will be the first large-scale, natural gasfed GTL facility to be built in North America.
It will also include CCS, making this nominally 25,000 barrel-per-day facility the first of its kind in the world.
The innovative facility will transform natural gas into unique, highperformance synthetic products, including industry-leading Group III+ base oils, ultra-low sulfur diesel, and naphtha.
GTL facilities incorporate proven processes and technologies to achieve this conversion. The first step of the GTL process is syngas generation, converting natural gas into synthesis gas.
The second step, the FischerTropsch process, involves a series of reactions to convert the synthesis gas into a waxy feedstock.
Finally, a suite of technologies is applied to upgrade this waxy feedstock into high-quality final products.
This project will also generate excess power to be sold into the local electrical grid or data center application.
NA: With GTL North Dakota set to make Cerilon the first significant producer of high-quality Group III+ base oils in North America, can you explain how use of these oils can increase energy efficiency and GHG savings?
ND: Cerilon engaged a third-party specialist to conduct a lifecycle assessment (LCA) of GHG from the GTL facility, comparing both manufacturing and product end-use benefits to a suitable conventional refinery baseline.
Cerilon’s LCA findings clearly demonstrate significant end-use GHG savings achieved from the use of Group III+ base oils in a variety of applications.
Significant lifecycle GHG savings are achieved in the end use of lubricants containing high-quality GTL Group III+ base oils when compared to conventional refinery alternatives due to the ultra-high viscosity index and oxidative stability of these lubricants.
These qualities allow the blending of engine oils that create engine efficiency improvements in existing applications without sacrificing other
necessary lubrication properties.
As an example, in ‘drop-in’ engine applications, these lubricants create a leveraging effect where a small amount of high-quality base oil creates fuel efficiency savings over the service interval of a vehicle.
This Group III+ end-use benefit, paired with CCS at the facility and additional GHG reductions from the use of high-quality GTL diesel and naphtha, results in a calculated GHG performance of the Cerilon facility that is significantly below the conventional refinery ‘business-asusual’ baseline case.
In addition to the direct capture and sequestration of over 450,000 tons per annum (tpa) of carbon dioxide at the GTL facility, Cerilon estimates that the use of lubricants containing highquality GTL Group III+ base oils results in GHG savings in excess of 900,000 tpa when compared to conventional refinery Group III based products.
These GHG emission reductions are estimated to be more than the manufacturing footprint of the GTL facility itself and the equivalent of removing 200,000 cars from the road.
NA: Can you tell us more about your partnership with ABB, who will provide Main Automation Control (MAC) design services to support the entire lifecycle of GTL North Dakota? What are the key benefits of collaborations such as these?
ND: We are bringing together a number of key partners with global expertise in engineering, technology, and automation.
Each of these partners will participate in the design of the facility and provide start-up and operational support.
The key benefit of partnering with best-in-class organizations with significant experience and proven technologies is that you can weave that experience together to produce state-of-the-art solutions.
ABB is acting as our main automation contractor to provide automation expertise and equipment. They will be providing their distributed control system (DCS) and operational systems for the facility.
ABB’s open structure allows for plug-and-play capabilities, and we will be overlaying our Cerilon
Cerilon GTL will convert gas into premiumquality, high-efficiency synthetic lubricant feedstocks and energy products using stateof-the-art technology and design
how do you support the communities in which you operate?
ND: Cerilon is committed to operating safely and responsibly. This includes effectively addressing the potential impacts of our business on people and the environment, while preserving our ability to create value.
Our four corporate pillars –ownership, leadership, stewardship, and excellence – guide corporate decisions and behaviors.
The stewardship pillar requires that relationships and assets be managed in ways that lead to sustainable benefits for stakeholders, the economy, and the environment. Cerilon believes that this approach to decision-making supports the longterm economic sustainability of our business.
A STRATEGIC ASSET
Our corporate environmental, social, and governance (ESG) strategy emphasizes and integrates environmental and social responsibility into all aspects of our business.
We manage relationships with our workforce, partners, customers, suppliers, and communities to
With the GTL facility positioned as a strategic asset for a number of stakeholders, Cerilon is keen to highlight a few of the reasons why:
FOR THE US AND NORTH DAKOTA:
• Onshore critical manufacturing – Creates a domestic supply of Group III+ base oils, displacing imports from the Middle East and Asia.
• Enhances energy security – Produces strategic GTL diesel with a more than five-year shelf life, ideal for military and agricultural reserves.
• Creates American jobs – Generates over 2,000 jobs during construction and over 2,100 direct and indirect jobs during operations.
• Solves a key energy challenge – Provides an in-state use for North Dakota’s natural gas resources, partially alleviating the transportation limitations expected to constrain future oil production.
FOR CANADA:
• Drives high-value exports – Secures an export value worth hundreds of millions for Cerilon and ABB.
• Launches a global tech platform – Establishes Cerilon’s Canadiandeveloped automation technology as a new, high-value export.
FOR ALBERTA:
• Secures a critical resource – Guarantees a multi-billion, 30-year supply of premium GTL naphtha, a vital diluent for the province’s energy sector.
• Provides large gas offtake option – Provides an offtake of natural gas for Canadian producers via the existing pipeline network that creates additional value for Alberta natural gas.
• Anchors a high-tech hub – Establishes a global master control centre in Calgary, creating high-paying jobs in AI, remote operations, and data analytics.
Cerilon creates solutions for the agricultural industry
“Those who have the courage to lead through rapid change, act as good stewards of our resources and the environment, and approach their efforts with excellence will succeed in the energy industry today”
– NICO DUURSEMA, CEO, CERILON
understand the impacts on people across the value chain.
In relation to our project in North Dakota, we launched a broad stakeholder engagement program in 2022 that has been recognized by government officials and regulators as exceeding their expectations for community engagement.
In addition to the economic and employment benefits we will bring, this early engagement allows us to learn where we can make the most positive, measurable impacts, and we will look to invest in programs and infrastructure that matter most to the local community.
NA: Having recently participated in the Canadian Energy Executive Association’s 74th Energy Business Forum, how can Cerilon relate to the forum’s ‘Wild Frontier’ theme, which celebrates the boldness and adaptability required in today’s energy landscape?
ND: The Wild Frontier theme describes our disruptive, volatile, uncertain, complex, and ambiguous (DVUCA) world where you can thrive with the right mindset, approach, and toolsets.
Cerilon is an intelligent, adaptive, and learning organization that is fully integrated to deliver results supported by AI and global partnerships.
DVUCA environments require pioneering innovation backed by
proven fundamentals and people with a solution-oriented mindset and can-do attitude. This is the culture we are building at Cerilon.
NA: Finally, what are the company’s key priorities for the future?
ND: Our key priority is to successfully deliver the first GTL facility in North Dakota, which will require excellence, passion, and perseverance from our team and partners.
We must have the grit to navigate through these rapid changes and
uncertain times to stay the course and deliver results.
Fostering our partnerships and key stakeholders on this journey will be essential. Our partners were carefully and strategically selected to align with our vision and have the capabilities and intention to scale with us for the energy transition.
Our portfolio approach is to build one and replicate many, and we are reviewing multiple sites and locations where we can add value to natural gas resources.
We will use our digital capabilities to reduce the time to market for several facilities in the portfolio. These digital tools will also be offered to other proponents with existing or greenfield projects through our CerilonSoft subsidiary.
Cerilon manufacturers fluids for the automotive industry
INTEGRAL TO ICONIC INFRASTRUCTURE
DYWIDAG’s technologies have been integral to some of the most iconic infrastructure projects in the US. Mike Kelley, President – Americas, details the growth and expansion of its US operations with the opening of a new facility in Pottstown, Pennsylvania
Writer: Jack Salter
Founded in Germany in 1865, DYWIDAG has been a global leader in structural and geotechnical engineering solutions for 160 years.
This leadership comes from a combination of long-term engineering experience, proprietary product technology, and an
integrated approach that combines high-performance hardware with instrumentation and monitoring.
That mix of deep R&D with product standards compliance, global project experience on landmark structures, and local manufacturing and technical support allows DYWIDAG to deliver solutions that reduce construction
time, improve durability, and enable data-driven lifecycle management of assets.
“We’re proud to be a leader in the geotechnical sector, focusing on understanding and engineering the ground beneath our feet to support safe and lasting infrastructure,” highlights Mike Kelley, President – Americas.
“Our expertise lies in soil stabilization, ground reinforcement, advanced anchoring solutions, and post-tensioning products and services that allow bridges and tunnels to withstand complex geological conditions.”
The company manufactures and supplies post-tensioning and pre-stressing systems, including DYWIDAG Threadbars, stay cable systems, concrete accessories, and a broad range of geotechnical products such as ground anchors, soil nails, and reinforcing steel for micropiles.
DYWIDAG also provides monitoring/data-driven asset management solutions and corrosion protection technologies.
By combining sensor-integrated and/or robotic technology and decades of global experience, DYWIDAG’s solutions deliver reliability, durability, and peace of mind for engineers and construction teams.
“We serve public agencies, asset owners, design-build contractors, and large private developers on major infrastructure and vertical building projects,” Kelley tells us.
ICONIC PROJECTS
DYWIDAG operates in 50+ countries and employs over 1,600 people worldwide.
In the US, the company’s technologies have been integral to some of the country’s most iconic infrastructure projects.
Indeed, it has supplied anchoring and soil nailing systems for Apple’s headquarters in California and multistrand anchors for excavation support used on One World Trade Center in New York, which is the tallest building in the US.
These installations illustrate DYWIDAG’s role on technically demanding, high-specification projects where durability, precision, and regulatory compliance are essential.
“At One World Trade Center, our high-quality, multi-strand anchors were used in the foundation works early in construction, demonstrating our capability to deliver reliable deep foundation solutions in highly constrained urban environments,” outlines Kelley.
“These installations illustrate our role on technically demanding, high-specification projects where
the Gordie Howe International Bridge project, which is currently under construction between Windsor, Ontario and Detroit, Michigan.
The company provided mutistrand stay cables to support the composite deck and specialized technical assistance throughout construction.
It also recently deployed a remote-controlled inspection bot which performs visual inspections of the protective sheathing for the bridge’s stay cables. In addition, the stay cable system provided has the capability to utilize a de-icing system.
“This is one of the company’s largest and most technically advanced North American bridge involvements,” Kelley acclaims.
DYWIDAG also provided geotechnical and post-tensioning expertise for the Golden Gate Bridge seismic retrofit to help strengthen the structure and meet modern earthquake resilience standards.
POTTSTOWN FACILITY
The DYWIDAG Threadbar stands apart as one of the only pre-stressing steel bar systems manufactured in the US that fully meets ASTM A722 manufacturing and performance standards.
These higher-capacity bars allow engineers and contractors to reduce steel congestion, accelerate concrete placement, and achieve stronger, more efficient structures.
“This gives us a distinct competitive
edge on projects where performance, quality, low-relaxation steel and constructability matter most,” Kelley prides.
DYWIDAG recently opened a production and distribution facility in Pottstown, Pennsylvania – located in the former Bethlehem Steel complex –to manufacture DYWIDAG Threadbar systems locally for the Northeast US market and to strengthen regional inventory and stockholding.
This results in shorter lead times for post-tensioning and anchoring hardware, increased availability of larger-capacity reinforcement bars for support of building foundations, reduced shipping complexity, and faster delivery for large-scale projects while contributing to local economic revitalization.
Local production also reduces
“WE’RE PROUD TO BE A LEADER IN THE GEOTECHNICAL SECTOR, FOCUSING ON UNDERSTANDING AND ENGINEERING THE GROUND BENEATH OUR FEET TO SUPPORT SAFE AND LASTING INFRASTRUCTURE”
– MIKE KELLEY, PRESIDENT –AMERICAS, DYWIDAG
logistics friction for contractors, helps avoid supply bottlenecks on large programs, and lets DYWIDAG offer quicker specification support and on-site technical assistance.
“The Pottstown facility is focused on geotechnical aspects of the business. Geotechnical applications are critical for soil stabilization, ground reinforcement, and foundation anchoring, and enable engineers to tackle challenging ground conditions,” notes Kelley.
Importantly, this new site also positions DYWIDAG close to major infrastructure hubs in the Northeast US, such as Philadelphia and New York, and builds on the region’s industrial legacy.
DYWIDAG’s growth in the Northeast US is further strengthened by the addition of three exceptional professionals – Maureen Merson, Rey Clavel, and Steve Scott – who bring decades of technical, engineering, and project management expertise.
“Their leadership ensures clients across the region receive the highest level of support and responsiveness,” Kelley emphasizes.
In the Southeast US, meanwhile, DYWIDAG recently announced the expansion of its concrete repair and strengthening services.
The expansion strengthens its ability to deliver general concrete repair, post-tension repair, posttension modifications, and carbon fiber installation in the region.
“To support this initiative, we’ve appointed Christopher Burnett as Sales Manager, based in Orlando, Florida,” reveals Kelley.
First, the company is scaling its US manufacturing and inventory, with a focus on ramping up DYWIDAG Threadbar production and maintaining robust regional stock to meet accelerating demand.
DYWIDAG is also enhancing regional project support – leveraging shorter lead times, localized production, and the expertise of its expanding Northeast team to deliver unmatched responsiveness to customers.
The company’s monitoring services will also be expanded, integrating smart anchor technologies to enable predictive maintenance and create more resilient infrastructure.
“Finally, we are deepening our involvement in major infrastructure programs, from bridges and seismic retrofits to commercial foundations and cross-border projects, where DYWIDAG’s solutions will set new
standards for performance and reliability,” Kelley confirms.
These priorities are vital to DYWIDAG sustaining its position as a trusted partner in building the next generation of safer, smarter, and more sustainable infrastructure across North America.
Alongside its four key priorities, the company remains deeply focused on sustainability and lifecycle management.
Through advanced corrosion protection and data-driven monitoring solutions, DYWIDAG helps infrastructure owners extend asset life, lower maintenance costs, and improve resilience.
“It’s this combination of technology, expertise, and long-term vision that continues to set DYWIDAG apart in the infrastructure market,” closes Kelley.
A TIME FOR HEROES
As the official spirit of a grateful nation, Heroes Vodka is on a mission to provide exceptional taste and superior value to consumers, while honoring those who serve, protect, and perform outstanding work.
We get the full story from Trisha Cancilla, Vice President of Marketing and Brand Strategy at R.S. Lipman Company
Writer: Ed Budds
Heroes Vodka was founded in 2009 by Travis McVey, a US Marine Corps Veteran who proudly served as a Presidential Honor Guard from 1989 to 1992.
As a fearless serviceman, as well as an innovative and determined entrepreneur, McVey endured the life-changing tragedy of losing a good friend in combat during the War on Terror in Afghanistan.
The harrowing experience paved the way for McVey to embrace the American dream of owning a business that would enable him to continue to serve his country from home.
McVey’s founding vision was to develop a brand that partners with well-known Veteran organizations to assist them in getting ex-soldiers the care they deserve. With Heroes Vodka, his dream has proudly become a reality.
Heroes Vodka was first bottled on November 11th 2011 on Veterans Day –11.11.11 – a special date that occurs only once in a century and epitomizes the rarity of this event.
As the ‘Official Spirit of a Grateful Nation’, the company’s mission is to provide exceptional taste and superior value to consumers, while
honoring heroes who serve, protect, and perform outstanding work in their communities.
The brand was created to give back to heroes who sacrifice their time –and often lives – for their country.
BUILDING THE BRAND
Today, Heroes Vodka is a part of the R.S. Lipman Company (R.S. Lipman), a Nashville-based international supplier of wines, spirits, beers, and mixers who, in 2009, began producing Lonely Cow Wines, thereby laying the groundwork for building a diverse alcoholic beverage portfolio.
As such, R.S. Lipman gives 10 percent of Heroes Vodka’s profit back to three carefully selected Veterans charities – Night Stalker Foundation, The Legion Fund, and Team Red, White & Blue.
“To date, we have given over a quarter of a million dollars, excluding the in-kind donations we make to various other organizations that support local heroes,” introduces Trisha Cancilla, Vice President of Marketing and Brand Strategy at R.S. Lipman.
Consumers can usually tell when a company takes shortcuts in favor of increasing its bottom line and decisions like this can kill the brand and cause detrimental effects.
Heroes Vodka understands that if you have a high-quality product and are persistent in sharing the story of the brand, it will resonate with the right consumers; it may take longer, but those are the companies with staying power.
“Quality, perseverance, and integrity are the winning combination to longterm success in this industry. While you can see fads come and go, the brands that stand the test of time are high-quality products with a reason for being,” she explains.
NATIONAL HEROES’ DAY AND THE LEGACY PROJECT
National Heroes’ Day is celebrated each year on October 8th in the US and has been observed since 2020.
“This is an occasion that honors real-life heroes and recognizes that the title of ‘hero’ can be given to many other individuals outside of the armed forces,” Cancilla acclaims.
“A hero is also the teacher who stays after school to make sure the student understands the text. It includes the doctors who go above and beyond to ensure their patients get the best care possible, or the first responder that takes care of local emergencies.
“There are so many types of heroes, and we want to honor and recognize each of them.”
Cancilla has also been integral to envisioning The Legacy Project, an initiative by Heroes Vodka which honors a new hero each year alongside supporting a charitable initiative of their choosing.
The nominated hero also appears on the packaging on the back of each bottle of Heroes Vodka.
“I realized we could use the bottle itself to expand our giveback by changing the hero on the back label annually, allowing us to highlight real, individual heroes from across the country,” she excites.
A HEROIC FUTURE
Looking ahead, Heroes Vodka has numerous plans in place to develop its efforts to give back by expanding its fundraising events and range of merchandise.
“We are planning to launch the Heroes Hall of Fame to provide a platform that enables consumers to support charities serving heroes of all types.
“QUALITY, PERSEVERANCE, AND INTEGRITY ARE THE WINNING COMBINATION TO LONG-TERM SUCCESS IN THIS INDUSTRY. WHILE YOU CAN SEE FADS COME AND GO, THE BRANDS THAT STAND THE TEST OF TIME ARE HIGHQUALITY PRODUCTS WITH A REASON FOR BEING”
– TRISHA CANCILLA, VICE PRESIDENT OF MARKETING AND BRAND STRATEGY, R.S. LIPMAN COMPANY
“Over the next 12 months, we will additionally launch our first Legacy bottle, honoring a new hero while also unveiling a new additional charitable partner for the year. We are very excited to continue honoring our heroes of the armed forces and beyond,” Cancilla concludes.
With an innovative and ambitious pipeline of projects on the horizon, the company strives to be remembered as the great-tasting vodka that honors those who have dedicated their lives to helping others.
FULL STEAM
Patriot Rail is redefining rail freight solutions that connect communities and industries, delivering locally and reaching nationally. We sit down with Tom Tisa, CCO, who outlines the company’s latest initiatives and projects
Writer: Lily Sawyer | Project Manager: Michael Sommerfield
STEAM AHEAD
Over the last few decades, North America’s rail freight industry has evolved, witnessing consolidation, efficiency-focused strategies, and technological advancements.
Today, it remains a crucial link in the supply chain, connecting businesses and markets across the continent and overseas.
“During the course of my 30+ years in the rail industry, I’ve seen a lot of change – particularly in how railroads operate and how much more efficient they’ve become,”
introduces Tom Tisa, CCO of Patriot Rail (Patriot), whose portfolio of short-line and regional freight railroads continues to grow.
With 32 short-line railroads across 23 states covering over 1,200 miles of track, the company has a national network in the US.
Its principal operations center around rail freight transportation and ancillary rail services, including 11 transloading locations and industrial development and railcar storage.
“We even have four excursion lines!” Tisa adds.
However, while rail remains a vital part of the freight network, competition from the trucking industry continues to increase.
“The challenge is that we haven’t
seen the growth in volume compared to other modes of transportation, especially given the improved productivity in rail freight operations,” he observes.
While Tisa believes that the industry’s current focus on
RAILPROS PARTNERSHIP
HOW HAS WORKING WITH RAILPROS ENABLED YOUR COMMUNICATION TEAM TO ACHIEVE STRONGER RESULTS?
Tom Tisa, CCO (TT): “Patriot has maintained a productive and ongoing collaboration with RailPros over the past year, focused on producing corporate, employee, and safety training videos.
“RailPros consistently delivers high-quality media featuring engaging visuals, crisp sound, and flawless editing - supported by smooth, professional project management. Their team stands out for its attention to detail and dedication to helping clients tell their stories effectively, making them highly recommended for top-tier media production and technical expertise.
“Since partnering with the RailPros team, we’ve been able to connect more deeply with our employees and communicate in new, engaging ways - using videography in job briefings, on our employee portal, in quarterly corporate videos, and through new safety training modules.
“We are currently testing the use of virtual reality in our training videos, allowing employees to conduct training directly on their mobile devices and tablets prior to job briefings and team discussions.
“This past August, the RailPros media production team filmed and produced our rebrand town hall, including event setup and management. Whether in studio or before a live audience, RailPros delivers a top-tier product.
“Our engineering and transportation departments have also utilized RailPros’ engineering and field services.”
HOW CAN VENDORS LIKE RAILPROS BE A STRONGER PARTNER TO THE PROCUREMENT TEAM?
TT: “We continue to see added value in working with a vendor like RailPros. Their expertise is a great complement to smaller operations such as short line railroads, where a slight extension of internal talent is often needed on a project basis.”
industrial development and short line engagement will lead to growth opportunities, he notes how freight rail also needs to see continual improvements in overall pricing to compete with the trucking sector.
“Competitive rates, combined with the outstanding first mile and final mile service that short lines provide, can together lead to increased market demand,” he posits.
ADVANCING INDUSTRY GROWTH
One way that Patriot is advancing growth in the rail freight sector is through industrial development.
As such, just outside Denver, Colorado, on the Union Pacific (UP) Railroad, it has partnered with the new Rocky Mountain Rail Park
(RMRP) to serve the Mountain states freight market beyond Colorado, including Idaho, Montana, Nevada, Utah, and Wyoming.
The company recently announced the arrival of its second locomotive at the rail park, further developing its operations on the Front Range (FR) Railroad.
“We are excited about our recent expansion in Colorado, and to start serving the customers in this new rail park which will be operational by the end of the year,” says Tisa.
RMRP’s strategic location offers room to grow. Patriot’s transloading company HYDRA will use one of the sites at the rail park to set up an operation that offers truck-to-rail and rail-to-truck services for various commodities.
“The team is ready to assist and
“WE STAY FOCUSED ON UNDERSTANDING LOCAL AND REGIONAL DYNAMICS WHILE UNDERSTANDING THE GLOBAL MARKET AND TRAFFIC FLOWS”
– TOM TISA, CCO, PATRIOT RAIL
guide customers with rail services solutions tailored to meet both their current needs and long-term goals, and we have the ability to invest where we see an attractive rate of return,” he details.
Elsewhere, the company is establishing a new industrial park in Denton, Texas, in partnership with Canadian Pacific Kansas City (CPKC) on its main network.
“This multi-commodity transload facility will provide reliable,
competitive transload services and logistics solutions to customers in the Dallas-Fort Worth metropolitan area – one of North America’s fastestgrowing regions,” Tisa outlines.
Patriot looks forward to growing with CPKC as it continues to serve the cement, aggregate, and lumber markets, and creating a more sustainable supply chain for the region to meet its future needs.
“We expect this site to be operational by the end of 2026,” notes Tisa.
KEEPING TRANSPORTATION ON TRACK
True to its name, RailPros offers time-tested railroad expertise to support the transportation industry.
With over 25 years of experience, RailPros is moving full steam ahead as the premier engineering, diversified safety services, and technical and safety training company serving North America’s freight, transit, and industrial railroads and rail adjacent industries. With office locations spanning the US, Mexico, and Canada, RailPros helps its clients complete work safely, efficiently, and with minimal disruption to existing rail service.
Established in 2000 by two veteran rail professionals, the company has experienced steady, sustained growth from inception to date, turning 25 in 2025. Over the years, it has continuously introduced new services to its customer base, furthering its position as a trusted industry partner. RailPros serves customers that include Patriot Rail, all six Class 1 railroads, and several others in the freight, transit, passenger, utility, and adjacent communities. Through these partnerships, the company plays a crucial role in facilitating the safe and efficient movement of freight and provides services to the passenger rail and transit industry, which moves millions of people daily.
The company attributes much of its success to its dedication to providing excellent customer service. Deeply rooted in serving its clients, RailPros has earned its partners’ trust by consistently delivering services that meet or exceed expectations. Providing outstanding service remains a core pillar of the company’s operations, and it continues to offer the same attention to detail, principal-level involvement, and thoughtful consideration of customers’ needs that gave RailPros its start.
“Working with partners like Patriot Rail enable us to combine our skill sets with theirs, resulting in collaborations on projects that are defining the future of rail in North America.”
Another key factor that sets RailPros apart is its railspecific expertise and focus. The firm’s primary service sector is rail. The organization’s seasoned staff know the critical aspects of a successful rail operation, from their engineers to flaggers (Roadway-Workers-in-Charge), project managers to trainers, and safety leaders to strategic advisors. Where other firms may struggle, the RailPros team is experienced in overcoming common challenges and interacting with railroads and other railrelated entities. The company’s personnel include former railroad employees with deep roots in the rail industry who have guided thousands of projects and have the experience, training, and certifications necessary to keep projects running safely and efficiently. Because rail expertise has always been at the heart of the business,
over time the company’s list of offerings has naturally expanded into a full suite of services that allows it to use its rail-specific knowledge to address the needs of rail and rail adjacent customers.
ENGINEERING
RailPros’ engineering division provides licensed professional engineers with in-depth engineering design, planning, and services for rail and transit. With project experience throughout North America, the team’s railroad-focused expertise and industry knowledge allow it to provide clients with exceptional support. Some critical areas of any successful rail project include track engineering, structural engineering, and civil engineering, all of which RailPros can provide, along with qualified supporting teams dedicated to rail signal, communications, and system control needs.
The engineering division functions as more than just a service provider; it’s a partner that can handle every aspect of a project. With construction management, program and project management, and project controls capabilities, RailPros can guide customers from the initial planning stages through completion. The organization’s project and program management team has a history of extensive and diverse work and can assist with managing and delivering everything from a single project to an entire program of projects. Its construction management services, led by proactive staff who deeply understand rail construction, work hand in hand with project management to deliver a successful project. RailPros also offers project controls, providing clients with data analyses and realtime metrics about project status, risks, and quality.
FLAGGING/RWIC SERVICES
When a project requires work to be performed on or around live railroad tracks, safety is the top priority. RailPros provides safety services in the form of RoadwayWorkers-in-Charge (RWICs), commonly called flaggers — highly skilled individuals with in-depth rail knowledge and safety training. Flaggers are responsible for the safety of people and equipment working on and around live railroad tracks and for the safe passage of trains through the work zone. Qualified in various forms of railroad communication, RailPros flaggers ensure workers (and any
Our field services:
• Track Inspection
• Construction Observation
• Real Estate and Development
• RWIC / Railroad Flagging
• Railroad Coordination
• Construction Management
equipment they are utilizing) are not struck by trains or other on-track machinery.
RailPros is the largest provider of flagging services in North America. Every day, the company effectively dispatches rail professionals to job sites as flaggers. They work on projects of all sizes and durations and have provided flagging services for numerous capital and maintenance-of-way projects, including double track and siding, track rehabilitation, yard reconstruction, quiet zone construction, utility installations, and surveys. The company’s commitment to providing safe, high-quality service has landed it key clients over the years and secured its spot as the leader in the flagging space.
It is the only flagging/RWIC provider in the US serving all six Class 1 railroads, and it is the exclusive provider of flagging/RWIC services on numerous short-line and regional rail carriers.
CONSTRUCTION OBSERVATION, REAL ESTATE, AND RIGHT OF WAY MANAGEMENT
RailPros’ construction observation group manages utility and construction projects from agreement execution through construction completion, working to reduce risk and variability to railroad operations and infrastructure from third-party, no-benefit projects. Before construction begins, RailPros’ licensed engineers identify noncompliance issues.
Then, once a project has completed the pre-construction requirements, experienced railroad professionals observe the third-party installation and escalate any items that do not meet the approved work plan for immediate resolution. By providing these layers of expert oversight, RailPros helps clients reduce risks, comply with engineering standards, and ultimately safeguard their operations and infrastructure.
The company also provides expertise in managing rail right-of-way and surplus, offering a full suite of services to
safeguard clients’ railroad property and ensure they are compensated accurately for third parties’ use and access. Offerings include third-party/utility management services, rental portfolio management services, and identification and rectification of encroachments. RailPros uses an approach called “Total Right of Way Management,” where it manages a request from its initial application through the completion of construction in the field, often involving permitting, observation, and flagging services.
STRATEGIC OPERATIONAL CONSULTING
RailPros’ strategic consulting team assists customers by providing the insight and framework needed to improve rail infrastructure, optimize capital investments, and support long-term growth. For example, the team offers industrial rail design services to industries such as food and beverage, aggregates, lumber, steel, grain, and chemicals, as well as deep-water ports and river ports. RailPros understands that rail is a critical component on any industrial site, adding land value, offering an alternative transportation option, and enabling the receipt of various commodities in bulk.
With its rail-specific expertise, the firm is an important partner for essential site development projects, specializing in tailored rail-design options that maximize a site’s potential while minimizing the overall rail footprint. Complementing these efforts, RailPros also offers track inspections. The company provides inspectors who are trained and qualified to identify non-compliance with federal standards and provide detailed instructions for initiating remedial actions and repairs, if needed. When a project is being planned or constructed on or near a railroad, the strategic consulting team can provide railroad coordinators who understand the challenges presented by each railroad’s specific requirements and can guide agencies and contractors from project planning through construction.
In addition, RailPros offers operations and maintenance support services, such as assisting clients with developing technical specifications for contracted railroad operations and maintenance services.
TRAINING AND MEDIA SERVICES
RailPros’ training division delivers specialized, high-impact training and support services specifically designed for the railroad and rail-adjacent industries. With a curriculum crafted by seasoned railroad professionals, RailPros’ programs cater to all six Class 1 railroads, short lines, commuter agencies, contractors, consultants, industrial rail facilities, and government entities, including the Department of Defense.
Their services encompass railroad engineering, transportation, mechanical rules, regulations, and procedures, as well as an Industrial Railroad Safety Training Program that helps organizations such as agricultural, chemical, or mining operations learn industry best practices for working safely around rail. This department also offers a HazMat for Shippers course that equips individuals with the knowledge and skills needed to safely receive and ship hazardous materials by rail.
The company’s training team has a unique understanding of Federal Railroad Administration (FRA), federal, state, and local regulations, having built relationships with key contacts at these agencies over the years. They use what they call a “learner-obsessed” approach, building training experiences that are designed to empower learners and enhance comprehension and retention.
For projects that intersect with rail, RailPros stands out as a best-in-class choice to address the transportation industry’s needs. Grounded in safety, quality, and railspecific expertise, the company has demonstrated its effectiveness through its strong track record with clients and exceptional growth. As it rounds out 25+ years of providing outstanding service, RailPros is well-positioned to continue delivering for its customers, strengthening trust, and keeping the transportation industry on track.
OTHER GROWTH INITIATIVES
In partnership with Burlington Northern Santa Fe (BNSF) Railway and the Utah Inland Port Authority (UIPA), Patriot has opened a new intermodal terminal in Salt Lake City.
“This project came to life because BNSF Railway’s Ocean Carrier customers wanted a competitive rail option in Salt Lake City,” Tisa tells us.
The company worked closely with UIPA and BNSF Railway to develop a plan and construct the terminal, which subsequently became operational in less than 100 days.
“This initiative is a great example of how we create opportunities through a shared collaborative approach,” he adds.
Indeed, through the project, Patriot is actively engaging at the local level and remains committed to being a productive partner with Class I railroads and shippers.
GETTYSBURG EXCURSION RAILWAY
In September, Patriot launched the Gettysburg Excursion Railway, a revitalized heritage rail experience along a 25-mile route starting in Gettysburg, Pennsylvania.
The fourth addition to the company’s growing Excursion Division – which also includes the Blue Ridge Scenic Railway in Georgia and two New Hampshirebased operations in Lincoln and Meredith – the Gettysburg line is an important contribution to Patriot’s growing portfolio.
Featuring fully restored 1950’s era passenger coaches, immersive historical narration, and scenic views of Adams County, the Gettysburg line is a true delight.
Departing from the historic 1884 Gettysburg Depot, the attraction offers themed rides, special events, and a Café Car with local catering, enhancing tourism and community engagement across one of the US’ most iconic landscapes.
“We stay focused on understanding local and regional dynamics while understanding the global market and traffic flows,” Tisa explains.
As a project where all stakeholders share the same vision for a more connected, sustainable, cost-efficient,
and resilient future for the nation’s supply chain, the intermodal terminal is a good example of a win-win partnership to enhance freight rail opportunities for shippers.
Elsewhere, as the company continues to work closely with its
“THIS REBRAND MARKS A MILESTONE IN OUR GROWTH STRATEGY AND REFLECTS OUR VISION TO REDEFINE RAIL FREIGHT – CONNECTING COMMUNITIES, DELIVERING LOCALLY, AND REACHING NATIONALLY”
– TOM TISA, CCO, PATRIOT RAIL
customers and local partners, Patriot’s rail network will benefit from public as well as private investments. Over the past several years, Patriot and its local partners have secured almost $200 million in federal and state grants.
“This funding will enable us to augment our safety practices, improve service reliability and efficiency, deliver cleaner air, and place less strain on our roads,” he outlines.
A PROGRESSIVE SAFETY CULTURE
At Patriot, safety comes above all
else. This past year, the company’s President and COO, Jerry Hall, and Vice President of Safety, Harrison Roughton, implemented five safety tenets across its network.
Since then, every Patriot employee has pledged to follow the guidelines, which include advice on preventable injuries and how to prioritize safety, making it everyone’s responsibility and a condition of employment.
In 2024, over 95 percent of the company’s network operated for 365 days without a reportable derailment, injury, or first-aid event.
“This is a milestone reflected in the 20+ Patriot railroads honored by the American Short Line and Regional Railroad Association’s (ASLRRA) Jake Award with Distinction,” Tisa comments.
The company has continued this momentum into 2025, with Hall’s operations and safety team having visited each of Patriot’s 30+ railroads over the course of the year.
“We have reached over 430 days without a Federal Railroad Administration (FRA)-reportable derailment,” Tisa notes.
Mission Statement: “When
This underscores Patriot’s commitment to ‘vision zero’, which works to promote a company-wide safety culture and safe operations by engaging employees and encouraging individuals to take accountability for maintaining a secure environment.
In addition, Patriot supports Operation Lifesaver – a non-profit organization that promotes rail safety through education, reducing deaths and injuries at highway rail crossings.
Patriot also participates in educational programs such as media campaigns, community events, and specialist training classes to promote safe behaviors on and around railroads.
A NEW IDENTITY
Spurred by its growth over the past three years – which has seen it double in size – Patriot unveiled a brand-new identity this August.
More than just a new look, the
rebrand represents a pivotal moment in the company’s growth strategy.
“We’ve welcomed new team members, acquired additional properties, and expanded our services,” Tisa confirms.
With this level of transformation, he notes how transparent communication is essential for the company’s partners to fully understand its evolution.
“It’s a new day at Patriot – we want our current and future partners to know who we are now,” he emphasizes.
As such, the rebrand seeks to share the company’s evolving story, presenting itself as a modern, forward-thinking rail and transportation leader.
“We want to demonstrate how we’re ready for the future, driven by an entrepreneurial mindset, and committed to continued growth,” Tisa declares.
Indeed, the company’s new logo, which depicts a curved ‘p’ with steps
resembling railroad ties, symbolizes steppingstones to the future and reflects the pivotal first mile and final mile services that Patriot’s short lines provide.
The company is also introducing a refreshed tagline – ‘Your Freight, Our Focus’ – a simple phrase intended to succinctly communicate what Patriot does and why it matters.
“This rebrand marks a milestone in our growth strategy and reflects our vision to redefine rail freight – connecting communities, delivering locally, and reaching nationally,” he adds.
ON TRACK FOR THE FUTURE
Looking to the future, Patriot will continue to focus on safety and growth.
CEO Brandy Christian, who joined the company in 2024, brought her vision to create long-term value for customers, employees, and owners.
Railroads don’t need buzzwords. They need results. RailConnect™
RailConnect’s time-tested technology delivers proven reliability, analytics, and intuitive web-based tools by automating car movements and switching operations, giving you real-time visibility into rail assets. Empower smarter decisions and drive operational efficiency by turning data into actionable insights that streamline asset, revenue, and car-hire management to save time, cut complexity, and boost profitability.
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“DURING THE COURSE OF MY 30+ YEARS IN THE RAIL INDUSTRY, I’VE SEEN A LOT OF CHANGE – PARTICULARLY IN HOW RAILROADS OPERATE AND HOW MUCH MORE EFFICIENT THEY’VE BECOME”
– TOM TISA, CCO, PATRIOT RAIL
“In line with Christian’s vision, we set out on a course to find creative solutions for customers and Class 1 partners to identify sustainable, profitable growth opportunities, including new industrial parks and inland ports,” Tisa observes.
Christian’s experience in global logistics has enabled Patriot to forge new strategic paths with long-term benefits – such as its expansion into intermodal transport with the BNSF Railway terminal.
“We prioritize our workforce and listen to their concerns and ideas,” Tisa adds.
Earlier this year, for example, Patriot received the 2025 USA TODAY Top Workplaces Award, which honors organizations with 150 or more employees and that have created people-first cultures.
Out of the 42,000+ businesses invited to participate this year, the company stood out for fostering a workplace where teamwork thrives and employees feel valued.
“The winners are recognized for their commitment to fostering a workplace environment that values employee listening and engagement,” Tisa informs.
“Our CEO summed up Patriot’s view on this influential award perfectly when she noted how our teamwork culture is more than just a corporate value – it’s the driving force behind our achievements and the foundation of our future growth,” he concludes.
Tel: 904-423-2540 www.patriotrail.com
LOGISTICS FOR A GLOBAL ECONOMY
Specializing in the delivery of streamlined solutions, RCS Logistics continues to level up its spectrum of capabilities. We speak with co-Owner and CCO, Brian Aldridge, and coOwner and COO, Jeff Evanoff, to find out more
Writer: Ed Budds | Project Manager: Poppi Burke
In recent years, the state of play within the vast global logistics industry can be boiled down to two words – constant disruption.
This sector-wide turbulence was exacerbated by the COVID-19 pandemic, and has since been forced to contend with tariffs, port strikes, Red Sea disruptions, and the rise of e-commerce.
“Lately, our industry hasn’t had a moment of peace. However, At RCS Logistics (RCS), we thrive during disruption – that’s when our true value shines,” introduces the company’s co-Owner and CCO, Brian Aldridge.
“Anyone can move freight when the market is soft, but real warriors show up when no one else can,” he boldly lays out.
Today, RCS is a global logistics leader focused on delivering seamless and innovative supply chain solutions.
Backed by decades of meticulously crafted experience and a resolute commitment to excellence, the company acts as a business extension, ensuring products arrive on time, safely, and efficiently.
“There will always be a need to optimize the movement and storage of products both globally and locally.
“While the industry isn’t immune to recessions or financial swings, there’s always going to be a need for our services,” adds Jeff Evanoff, co-Owner and COO.
To this end, RCS now boasts offices around the world and can service virtually any freight, no matter where it’s produced or consumed.
Aldridge’s role within the company began by leading the Southeast region for RCS before being promoted to oversee all global commercial activities.
In June 2025, he partnered with Evanoff to acquire the organization, seduced by the possibility of going truly global and being unrestricted by region, grasping the chance to build something truly special.
“We feel honored and blessed to sustain the brand for the next generation,” he prides.
UNRIVALLED SERVICE
The expert team at RCS is dedicated to providing personalized service, driving continuous improvement, and harnessing advanced technology to meet the evolving needs of its clients.
By leveraging an extensive network which spans Asia, Europe, Latin America, and the US, the company provides customized solutions with speed to market – whenever and wherever.
“We specialize in international air and ocean freight forwarding, supply chain management, domestic transportation/drayage, customs brokerage, and a wide array of other third-party logistics (3PL) solutions,” Aldridge explains.
“To say that this industry is exciting would be an understatement. Every day brings a new challenge for us to solve, either for our clients or internally,” he continues.
The company’s list of clients includes some of the biggest names in the business, and RCS is regularly featured among the top 100 US importers and exporters.
RCS’ LIST OF SERVICES
• AIR FREIGHT – RCS provides innovative and integrated transportation services to meet a variety of air freight needs.
• OCEAN SHIPPING – The company offers a broad range of global ocean freight and transportation services as well as providing door-to-door services for any size shipment.
• TRUCKING – Now featuring a dedicated fleet of bonded trucks equipped with GPS, RCS has reduced the transit time from pick-up to warehouse to two hours or less.
• CONTAINER FREIGHT STATION – RCS provides bonded facilities located close to airports and charter services. Additionally, its warehouses feature full container transloading services.
• GLOBAL FREIGHT AND SUPPLY CHAIN MANAGEMENT – The company specializes in global freight management and supply chain services for a wide variety of cargo, working with its clients to develop a logistics solution to meets every need.
• CONSOLIDATION SERVICES – RCS is committed to helping its customers minimize the cost of doing business by consolidating vendor shipments.
“ONE OF MY EARLY MENTORS ALWAYS SAID, “JUST CARE MORE”. THAT STUCK WITH ME, AND IT’S NOW EMBEDDED IN THE DNA OF EVERYONE AT RCS”
– BRIAN
ALDRIDGE, CO-OWNER AND CCO, RCS LOGISTICS
“We have established ourselves as a global logistics provider offering a full range of services with a boutique feel that’s much needed in our industry. We compete with the giants – and we win.”
As such, RCS is not afraid to pave the way, with its biggest differentiator being unmatched speed and agility, as well as an ability to respond quickly to customer and market needs.
“One of my early mentors always said, “just care more”. That stuck with me, and it’s now embedded in the DNA of everyone at RCS,” Aldridge recalls fondly.
HOW WERE YOU FIRST INTRODUCED TO THE LOGISTICS INDUSTRY?
BRIAN ALDRIDGE, CO-OWNER AND CCO: “I’m a third-generation Aldridge in the logistics business. My grandfather, Don Aldridge, started in the industry before containers were even invented.
“Being immersed in the business from a young age and living overseas in places like Puerto Rico – and attending high school in Hong Kong – sparked my passion for the complexity, cultural depth, and impact of the supply chain. We truly are the backbone of the global economy.”
JEFF EVANOFF, CO-OWNER AND COO: “After leaving college, I focused on getting a job that could provide me with the best blend of leadership experience and compensation. As I became more immersed in new opportunities, my passion for the logistics industry outweighed my desire to go law school – and the rest is history!”
ADAPT OR DIE
To date, RCS’ largest project has been the complete operational transformation of its air freight program.
“This is something Brian and I have realized was an absolute necessity for our long-term vision, but in the past year, we’ve accumulated the talent, leadership, and resources needed to execute the high standard we expect,” Evanoff asserts.
“While our people and culture are what differentiates us from our competition, it’s critical that we continue striving for operational excellence, efficiency, and low-cost –which are paramount to a successful logistics organization and the primary goals of our air freight transformation program,” he expands.
Elsewhere, like everyone, RCS is embracing artificial intelligence (AI) and automation.
“One key initiative is optimizing overseas operations so that while our US teams sleep, the international team keeps things moving. That way, our American staff can focus on what matters most – the customer experience,” Aldridge illuminates.
“I don’t want to be too ‘movie quote’ here, but when it comes to keeping pace with the latest innovations and trends, it’s the Moneyball mantra –adapt or die,” he quantifies.
UNVEILING AN EXCITING FUTURE
Heading into 2026, RCS’ top priorities encompass staying true to what its clients need, alongside identifying
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“WE’VE HAD A TERRIFIC YEAR IN 2025 WHICH, COUPLED WITH OUR OWNERSHIP CHANGE, HAS PROVIDED US WITH A TREMENDOUS AMOUNT OF MOMENTUM GOING INTO 2026”
– JEFF EVANOFF, CO-OWNER AND COO, RCS LOGISTICS
new industry gaps and bringing meaningful solutions to market.
“We’ve had a terrific year in 2025 which, coupled with our ownership change, has provided us with a tremendous amount of momentum going into 2026. We have some very large new customers set to come on board this year, which will be a huge boost to our growth goals,” Evanoff excites.
Elsewhere, the company will continue expanding its already vast service offerings with additions such as a newly launched domestic air product.
“Set to be unveiled in 2026, we’ve recently partnered with one of the largest global order management providers to expand our current network, giving us a massive amount of new origin offices worldwide,” Aldridge reveals.
“This unique approach lets RCS operate as if we had brick-and-mortar offices in every key market – without actually having to build them,” he adds.
Additionally, this strategy allows vendors to seamlessly interact with the company using its origin control tower, supported by electronic data interchange (EDI) and booking tools.
“This groundbreaking model lets us match up with the best partners in every market – whether it’s our own office or a top-tier strategic partner – while maintaining complete control and visibility for our clients.”
Furthermore, in terms of RCS’ corporate vision, 2026 will be focused on continuing to strengthen the foundation and fundamentals of the organization, as the company positions itself for significant growth in the coming years.
“Continuous improvement is a huge part of our DNA, so we’re always evaluating ourselves and exploring ways to raise the bar,” Evanoff concludes optimistically.
info@rcslogistics.com www.rcslogistics.com
CONNECTING SASKATCHEWAN
Saskatchewan’s home-grown communications leader, SaskTel, connects the Canadian province.
Charlene Gavel, President and CEO, discusses the company’s Rural Fibre Initiative, 5G rollout, Aurora Program, and more
Writer: Jack Salter | Project Manager: Jakub Tyl
I’ve had a life-long connection to the telecommunications (telecoms) industry, and SaskTel specifically.”
Growing up in the Canadian province of Saskatchewan, President and CEO Charlene Gavel saw first-hand how SaskTel’s work connected even the smallest communities – experience that shaped her belief in the power of local service and community connection.
Headquartered in the provincial capital of Regina, SaskTel offers a wide range of services to the consumer market, including wireless, internet, television, and security products.
The company is also a major player in the local business environment and delivers a variety of professional, smart, and managed collaboration services.
SaskTel’s expertise in delivering high-quality and reliable communications solutions, combined with its
inherent innovative approach, have positioned the Crown corporation at the heart of the profound transformation that Canada’s telecoms sector is currently undergoing.
“What makes this moment so exciting is not just the emergence of new technologies, such as fiber optics, 5G, and artificial intelligence (AI) infrastructure and solutions, but also the possibilities these solutions will create,” Gavel insights.
ALLIANCE WITH DELOITTE CANADA
While SaskTel is extremely proficient at constructing, operating, and maintaining traditional communications networks, it also has an eye to the future and the emerging technologies that will shape the world for decades to come.
A great example of this is the recently announced strategic alliance with Deloitte Canada to advance Saskatchewan’s AI capabilities and infrastructure.
Through this alliance, SaskTel will be adding graphics processing unit (GPU) capacity to its existing data centers to support the creation and delivery of AI solutions.
Initially, the company’s primary goal is to bring AI solutions to support and grow the agriculture, mining, and healthcare sectors in Saskatchewan.
These three sectors are key drivers of the provincial economy and would greatly benefit from the adoption and integration of AI-powered solutions.
“While we’re still in the early stages of this engagement, I’m incredibly excited about the potential benefits that AI can bring to our business in terms of new revenue opportunities and helping us to pave the way for an even brighter and more prosperous future for our company,” Gavel emphasizes.
“With fiber optics, we’re able to support the delivery of critical healthcare services in Saskatchewan’s remote and far north; with 5G, we’re helping our customers connect to their loved ones and the world faster than ever before and from nearly anywhere in the province; and with AI, we’re looking to support and drive growth in our province’s key economic sectors.”
CROWN CORPORATION
As a Crown corporation wholly owned by the province of Saskatchewan, SaskTel reinvests directly into the
communities it serves, enabling access to advanced technologies like fiber optics and 5G across urban and rural areas.
Due to its unique blend of provincial ownership, deep local commitment, and comprehensive suite of innovative services, SaskTel stands out as Saskatchewan’s leading communications provider.
“In total, we manage over 1.4 million customer connections across the province, supported by our extensive networks,” informs Gavel.
“Our success is built on the dedication of our 3,200 employees
“DELIVERING FIBER AND 5G TO RURAL AND REMOTE COMMUNITIES ISN’T JUST A TECHNICAL ACHIEVEMENT – IT’S ABOUT ENSURING EVERY RESIDENT, NO MATTER WHERE THEY LIVE, HAS ACCESS TO OPPORTUNITY”
– CHARLENE GAVEL, PRESIDENT AND CEO, SASKTEL
who live and work in communities across Saskatchewan. I’m truly grateful for the opportunity to lead SaskTel and work alongside such a passionate team; together, we’re not just connecting people – we’re empowering them to thrive.”
With this skilled workforce and a legacy of firsts – from pioneering high-speed internet to launching self-serve mobile platforms – SaskTel combines innovation and reliability.
“Our commitment to community impact, strategic investment, and customer satisfaction has earned us national recognition and solidified our role as a trusted technology leader in Saskatchewan,” she acclaims.
FIBER AND 5G ROLLOUTS
When SaskTel announced the launch of its Rural Fibre Initiative in December 2020, the company initially intended to invest CAD$50 million to bring the speed and power of its fiber optic broadband network, known as SaskTel infiNETTM service, to approximately 30,000 homes and businesses in more than 20 rural communities.
“Weʼre proud of Geartechʼs twenty year relationship with SaskTel.”
Alain
Cauchy,
Geartech Technologies, Founder & President
“Weʼre proud of our partnership with Sasktel. For over two years, SaskTel has provided cutting-edge Wi-Fi from eero to ensure Saskatchewan households experience faster, more reliable connectivity for work, streaming, and everything in between.”
Mark Sieglock, eero EVP, Software and Services
more modern broadband solutions has grown, so has the initiative.
“As of today, we have committed to investing CAD$280 million in order to bring infiNET service to nearly 200 rural communities, ranging in size from a few thousand residents to less than 200,” Gavel reveals.
“Since announcing this project, we’ve launched infiNETservice in a little over 100 rural communities included in the Rural Fibre Initiative.”
SaskTel expects to complete all phases of the initiative by the end of 2027; once complete, 85 percent of all Saskatchewan homes and businesses will have access to the incredible speed and reliability that only a
can deliver.
In addition to this extensive fiber rollout, the company is investing more than CAD$600 million to upgrade its entire wireless network to 5G.
Reaching nearly every corner of the province, SaskTel’s wireless network is by far the largest in Saskatchewan and comprises more than 1,000 cell sites, delivering reliable and high-quality wireless connectivity to 99 percent of the area’s population.
Since beginning the rollout of 5G in 2021, SaskTel has successfully upgraded more than 800 cell sites to 5G.
“Thanks to these efforts, we can deliver unparalleled 5G connectivity
to approximately 90 percent of the people in our province,” highlights Gavel.
Another exciting development on the 5G front was the launch of SaskTel’s 5G Innovation Labs last year.
Through a collaboration with Innovation Saskatchewan and Samsung Canada, it has created two purposefully designed and equipped facilities in Regina and Saskatoon that provide local businesses, university students, researchers, and other innovators with the tools and facilities needed to unlock the full potential of 5G technology and develop innovative solutions that will shape the future of communication and connectivity across Saskatchewan.
CONSTRUCT DESIGN SERVICE CONNECT
AFL is a leader in the infrastructure landscape, delivering engineering, construction, and field services for critical infrastructure providers across Canada and the US. Our highly skilled and experienced professionals design, build, connect, and maintain the critical systems and networks that power modern communities and industries — keeping people, businesses, and services seamlessly connected.
From our roots in telecommunications, where we are recognized as trusted experts with a proven track record of delivering large-scale, end-toend, high-impact projects for Canada’s largest telecommunications providers, to servicing and maintaining water and power meter systems, AFL Network Services ensures critical infrastructure and systems are expertly deployed and maintained.
AURORA PROGRAM
Of the major initiatives SaskTel has on the go, the Aurora Program is the most recent.
Thanks to funding support from the Government of Canada’s Universal
Broadband Fund (UBF), the company is working to bring cutting-edge communications solutions and connectivity to some of the most remote and isolated communities in Saskatchewan.
“In total, we expect to invest up to CAD$160 million, with nearly CAD$140 million coming from the UBF, to bring the speed and power of our infiNET network to the residents living in more than 30 northern and Indigenous communities,” Gavel tells us.
SaskTel will also be using some of these funds to bring wireless connectivity to a remote northern highway.
Known as Hanson Lake Road, Highway 106 connects many communities in Northeast Saskatchewan to the more densely populated southern half of the province.
For many, this highway is one of the only routes available to them to get to access the southern part of Saskatchewan.
“We’re extremely pleased to be able to bring wireless connectivity to Highway 106, which will drastically improve the ability to contact loved
ones while travelling or connect with first responders should an emergency occur,” enlightens Gavel.
While constructing communications networks is no easy feat, the Aurora Program is extremely challenging, especially given the difficult conditions posed by the Canadian Shield, muskeg, dense forestation, wildlife, and logistics of transporting the necessary infrastructure to Saskatchewan’s remote north.
Adding to these challenges, all work is required to be complete by the end of March 2027 due to federal funding guidelines.
If that wasn’t enough, this year was incredibly difficult for many in Northern Saskatchewan as wildfires ravaged countless hectares of forest,
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– CHARLENE GAVEL, PRESIDENT AND CEO, SASKTEL
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forcing thousands of people, including many SaskTel employees working on the Aurora Program, to evacuate the area for weeks at a time.
“Despite the immense amount of work and difficult conditions, I’m
pleased with the progress we’ve made so far,” Gavel assures.
“Ultimately, the Aurora Program is a testament to our commitment to bridging gaps and connecting the most isolated communities.”
As well as wholeheartedly embracing the challenge of the Aurora Program, next year is all about building momentum for SaskTel –technologically, culturally, and socially.
Looking ahead to 2026, Gavel’s focus is on accelerating SaskTel’s transformation into a future-ready organization while staying true to its roots as a community-minded Crown corporation.
“Internally, I’m focused on empowering our people. I’ve seen first-hand how passionate and committed SaskTel’s employees are, and I want to continue fostering that culture of care and innovation,” she concludes.
Tel: 1-800-727-5835
FORTIFYING Grenada’s Financial Future
Denis Felix, Executive Director of the Grenada Authority for the Regulation of Financial Institutions, outlines its pivotal role in regulating the non-bank financial sector, championing consumer confidence, and fostering a stable economic environment through strategic oversight and modernization initiatives
Writer: Rachel Carr | Project Manager: Joshua Mann
The Grenada Authority for the Regulation of Financial Institutions (GARFIN) was established in 2007 as a statutory body responsible for overseeing and regulating the non-bank financial sector in Grenada, the southernmost country of the Eastern Caribbean Currency Union (ECCU).
GARFIN is dedicated to building and maintaining public confidence in Grenada’s financial system by ensuring its integrity through diligent regulation and thorough supervision of designated non-bank financial institutions, including credit unions with total assets of ECD$1,612.9 million, development banks –ECD$122.3 million, microlending institutions – ECD$18.6 million (total loans), building societies – ECD$17.7 million, insurance companies
authority focused on ensuring stability, thereby contributing to a strong economic environment, GARFIN has established long-term goals to achieve sustainable growth and development in Grenada’s financial industry.
“As a regulator and supervisor, we strive for a safe, sound, profitable, and well-functioning financial sector that can withstand shocks and contribute positively to the people and economy of Grenada, Carriacou, and Petite Martinique,” introduces Denis Felix, Executive Director of the authority.
Denis Felix , Executive Director
– ECD$600 million (general ECD$252 million and long-term ECD$358 million), and school savings unions –ECD$2 million.
Envisioning itself as a highly professional and effective regulatory
The long-term goals for GARFIN to achieve sustainable growth for non-bank financial institutions include the continuous development of stress testing, especially within the insurance and credit union sectors, which will improve supervision and
enable proactive identification of weaknesses or risks that require attention.
In addition, there will be ongoing modernization of legislation, including the Co-operative Societies Act, the new harmonized ECCU Insurance Act, and the revised Building Societies Act.
“We aim to maintain our partnership with regional regulators to establish a standards-setting body
GARFIN’S KEY OBJECTIVES FOR MODERNIZING LEGISLATION
• Incorporate international best practices into legislation for the overall strengthening of the non-bank financial sector.
• Make the necessary improvements to regulations based on the experience and observations of the non-bank financial sector.
• Account for changes in technology, new business models, emerging risks, and changes in existing risks.
– the Eastern Caribbean Financial Standards Board (ECFSB). This initiative will help synchronize the regulatory framework in the ECCU,” Felix outlines.
“Additionally, we will collaborate with the credit union sector to enhance the understanding of risk-weighted capital and transition current practices to a risk-based lending methodology.”
ENHANCING ECONOMIC ENLIGHTENMENT
Currently, the non-bank financial sector includes credit unions, insurance companies, agents, brokers, adjusters, sales representatives, and underwriters, as well as encompassing pension plans.
Besides money service businesses – such as microlending institutions and money transfer operators – the sector consists of a building society, a development bank, friendly societies, an international betting company, school savings unions, and virtual asset service providers.
To strengthen consumer protection, GARFIN is actively implementing several strategies designed to support individuals with varying levels of experience, ensuring all consumers can navigate the financial landscape with greater confidence and security.
“One key initiative is the issuance
CRITICAL CRITERIA
of guidelines requiring insurance companies to clearly inform their clients of the need to obtain current valuations of their property when seeking insurance for the first time or during annual renewals.
“This will help clients understand the financial consequences of being
Any potential member of GARFIN’s Board of Directors must undergo a fit-andproper assessment and be recognized and experienced in one or more of the following areas:
• Banking
• Insurance
• Financial co-operatives
• Law
• Economics
• Finance and accounting
To assess whether an individual is suitable for appointment as a director, the Minister of Finance will consider various relevant factors, including integrity, competence, and sound judgment in fulfilling their responsibilities, as well as their expected diligence in carrying out their duties.
Consideration may also be given to prior conduct in business, particularly regarding any evidence of fraud, dishonesty, or violence. This includes violations of laws intended to protect the public from financial losses resulting from misconduct in financial services or company management.
Furthermore, any deceitful or oppressive business practices, employment records suggesting impropriety, or associations with questionable business practices that raise doubts about competence and judgment are also relevant.
underinsured,” Felix affirms.
Further to these efforts, GARFIN will continue to collaborate with the government and the Eastern Caribbean Central Bank (ECCB) on ongoing financial literacy programs to empower individuals to make informed, intelligent financial decisions.
“We are working with the Grenada Co-operative League, the umbrella organization for credit unions, to establish a stabilization fund that aims to protect members and depositors.
“GARFIN will also support the creation of the Office of Financial Conduct and Inclusion for the ECCU, which will regulate issues related to financial consumer protection and business conduct,” expands Felix.
SAFEGUARDING FINANCIAL STABILITY
Playing a crucial and dynamic role in the financial framework, GARFIN ensures compliance with established standards and fosters a stable economic environment.
To maintain public confidence in the Grenadian financial system, the authority promotes public understanding and awareness. This includes educating individuals about the benefits and risks of various investments and transactions and providing accurate information and advice.
“To ensure consumer protection, it is essential to consider the varying levels of risk associated with different types of financial operations. Recognizing that consumers possess differing degrees of experience and expertise in relation to various regulated activities is vital,” highlights Felix.
“Additionally, we must address their diverse needs for accurate information and advice while upholding the principle that individuals should take responsibility
“AS A REGULATOR AND SUPERVISOR, WE STRIVE FOR A SAFE, SOUND, PROFITABLE, AND WELL-FUNCTIONING FINANCIAL SECTOR THAT CAN WITHSTAND SHOCKS AND CONTRIBUTE POSITIVELY TO THE PEOPLE AND ECONOMY OF GRENADA, CARRIACOU, AND PETITE MARTINIQUE”
– DENIS FELIX, EXECUTIVE DIRECTOR, GARFIN
for their own decisions. Therefore, a balanced approach is necessary to safeguard consumers while empowering them in their financial choices.”
GARFIN conducts off-site supervision by analyzing monthly, quarterly, and annual returns from regulated entities.
This includes trend and ratio analysis to assess financial performance and ensure compliance with solvency and liquidity requirements.
“Focusing on high-risk areas, we ensure insurance companies maintain adequate assets in their insurance funds to meet policyholder obligations,” he states.
The compiled data is shared with relevant sectors for benchmarking and oversight by entities such as the ECCB, Government of Grenada, and International Monetary Fund.
“Every year, we produce a Supervisor of Insurance Report, which provides a comprehensive
and in-depth review and analysis of the insurance sector, and an Annual Report containing data and analysis on the non-bank financial sector. These reports are tabled before parliament by the Minister for Finance,” Felix tells us.
“On-site examinations involve reviewing a regulated entity’s records, processes, and controls, and findings from off-site supervision determine the need for these examinations, which can be targeted
or comprehensive. An exit meeting is held with management to discuss findings and corrective actions, followed by reporting to the entity’s board.”
Prudential meetings are also held to tackle issues such as regulatory breaches and financial performance, while public members with grievances, particularly those related to vehicular accidents, can submit complaints for resolution.
Moreover, GARFIN has the authority to impose fines, restrict operations, or, in serious cases, appoint managers to ensure fair regulation within the nonbank financial sector.
PROACTIVE PROTECTION
GARFIN plans to adapt its regulatory approach to address emerging trends and challenges in the financial sector,
GARFIN’S ACHIEVEMENTS
• Stabilized the sector and improved the performance of regulated entities.
• Overseen greater compliance from the sector.
• Enhanced both on-site and off-site supervision.
• Increased safety and soundness in the sector.
• Fully complied with monthly, quarterly, and annual reporting.
• Developed and implemented a framework for the supervision of pension plans.
• Enhanced the supervision of school savings unions.
• Obtained excellent support from the government.
• Enacted and modernized legislation, such as the Co-operative Societies Act, ECCU Insurance Act, Money Services Business Act, and the new Virtual Asset Business Act.
• Transferred the assets and liabilities of several small credit unions to bigger ones to safeguard members’ deposits.
• Increased confidence of the general public.
• Successfully enforced corrective supervisory action to rehabilitate and resuscitate weak and insolvent institutions.
especially during periods of economic uncertainty, by anchoring it in a risk-based supervisory framework and directing daily regulatory and supervisory activities.
High-risk areas, activities, and regulated entities, including those that receive a high level of complaints, are subject to greater scrutiny through more frequent reporting, increased reporting requirements, and more in-depth on-site examinations.
“To address difficulties effectively, our employees undergo regular training on emerging risks, best practices in regulations and supervision, and new developments in financial standards to equip them to respond to emerging trends and challenges,” insights Felix.
In collaboration with other ECCU regulators, GARFIN aims to implement a technology solution to automate specific tasks.
This initiative is intended to enhance operational efficiency and give staff more time to concentrate on higher-level responsibilities.
Additionally, it is developing a crisis resolution plan to formalize its regulatory strategy during periods of economic uncertainty.
“Through effective regulation and supervision, we ensure all regulated entities are financially sound, compliant with applicable laws and regulations, and exhibit good market conduct,” Felix emphasises.
“This reduces the probability of an entity failing and undermining confidence in the Grenadian financial system,” he continues.
Achieving this requires ongoing collaboration with key partners, including the ECCB, Eastern Caribbean Securities Regulatory Commission (ECSRC), Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Commission, Financial Intelligence Unit, and Ministry of Finance.
1 (473) 440-2444
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Grenville Co-operative Credit Union: A Legacy of Growth and Community Impact
From its 1984 rebirth with just 19 members and $1,614 in assets, Grenville Co-operative Credit Union (GCCU) has grown into a leading financial institution in Grenada, with over $147 million in assets and 12,000+ members. Founded on trust and resilience, GCCU has weathered economic crises and natural disasters while remaining a pillar of support for its members.
Recent years have seen significant transformation, driven by its 2022–2025 Strategic Plan focusing on innovation, member service, and sustainable growth.
Phone: (473) 442-8602
Email: info@grencu.com
Website: www.grencu.com
Investments in digital services, modern Emortelle systems, and the International Debit Card (IDC) position GCCU at the forefront of financial inclusion.
Beyond finance, GCCU empowers its community through scholarships, SME forums, and staff development. With strong governance and a people-first ethos, GCCU continues to build financial independence, strengthen communities, and lead with purpose, remaining a trusted cooperative where every member truly matters.
“The authority actively participates in regulatory colleges, where the home regulator – meaning the regulator from the head office’s location – conducts a comprehensive review and discussion of specific entities involving executives and senior management,” Felix details.
“This process ensures regulators possess a thorough understanding of the challenges, performance, and stability of a financial group or conglomerate.”
Additionally, GARFIN collaborates with regional regulators on various issues and initiatives to enhance regulatory oversight.
The Regulatory Oversight Committee (ROC) brings together all 10 regulators, including the ECCB, ECSRC, and national regulators such as GARFIN, every quarter to discuss the ECCU financial sector and initiatives aimed at enhancing regulation and supervision.
PIONEERING PROGRESS
As it embarks on exciting projects and investments, GARFIN is notably focusing on developing a technology
“TO ENSURE CONSUMER PROTECTION, IT IS ESSENTIAL TO CONSIDER THE VARYING LEVELS OF RISK ASSOCIATED WITH DIFFERENT TYPES OF FINANCIAL OPERATIONS. RECOGNIZING THAT CONSUMERS POSSESS DIFFERING DEGREES OF EXPERIENCE AND EXPERTISE IN RELATION TO VARIOUS REGULATED ACTIVITIES IS VITAL”
– DENIS FELIX, EXECUTIVE DIRECTOR, GARFIN
solution for regulatory and supervisory purposes.
“We intend to automate certain functions to allow staff enhanced time to focus on analysis and risk assessments. The intent is for this project to be developed in collaboration with our fellow ECCU regulators,” Felix reveals.
The revision of the Co-operative Societies Act has been a longstanding project, with significant consultation and effort dedicated to refining the legislation for practical use.
“The updated draft bill will be completed and submitted to parliament for approval by December 2025, a significant achievement for GARFIN and a much-needed improvement for the oversight of an ECD$1.6 billion sector.”
For the upcoming year, GARFIN has several plans and priorities, the first of which is to fully implement a practical risk-based supervisory framework for the non-bank financial sector and enact updated legislation and regulations, beginning with revisions to the Co-operative Societies Act and its accompanying regulations.
St. George’s Anglican Junior School
Providing insurance solutions and investing in the English, Dutch and French Caribbean. We deliver strength, reliability and peace of mind.
Additionally, it aims to develop a crisis preparedness and management plan specifically for the non-bank financial sector. It will also establish internationally accepted prudential ratios for insurance companies and building societies.
“To support this, we will focus on
Are you protected?
capacity building for industry bodies, particularly in the insurance sector. Strengthening cooperation among regional regulators is another priority,” notes Felix.
“This initiative will involve consolidated supervision and the creation of the ECFSB, which will
include regulators from all eight jurisdictions in the ECCU, along with the ECCB.”
Furthermore, GARFIN intends to develop a supervisory framework for virtual assets and promote consolidation within the credit union sector by facilitating the transfer of assets and liabilities from smaller, less efficient credit unions to larger, more viable ones.
“All our initiatives are designed to enhance the regulatory environment and improve overall stability in the financial sector,” Felix assuredly concludes.
The Financial Services Commission in Barbados utilizes a comprehensive approach to safeguard the integrity and stability of the country’s nonbank financial sector. Warrick Ward, CEO, tells us how the organization protects consumers and promotes growth
Writer: Lucy Pilgrim | Project Manager: Joshua Mann
The non-bank financial sector in Barbados offers both a diverse and dynamic landscape, encompassing insurance, occupational pensions, credit unions, and securities, each with its own opportunities and challenges.
What makes the industry particularly exciting is its rapid pace of change – from the increasing use of digitalization and disruptive technological solutions to evolving customer expectations and international regulatory standards.
“For us as a regulator, it is an incredibly meaningful space to work in because the strength of these
sectors has a direct bearing on national financial stability, consumer protection, and long-term economic resilience and societal health,” opines Warrick Ward, CEO of the Financial Services Commission in Barbados (FSC Barbados) – the integrated regulatory body responsible for supervising the country’s non-bank financial institutions.
Established by statute under the Financial Services Commission Act, 2010-29, FSC Barbados has a vast range of responsibilities, including administering specified enactments as well as supervising and regulating the operation of financial institutions
across the country, facilitating institutional strengthening, adequate control, and risk management of the industry landscape.
Such procedures, therefore, help to promote stability alongside public awareness and confidence in the operations of Barbados’ financial institutions.
“Our mandate is to safeguard the integrity and stability of these markets, protect consumers, and promote growth and innovation in the non-bank financial sector,” Ward summarizes.
Headquartered in Bridgetown, FSC Barbados employs a multidisciplinary team of approximately 70 professionals, and has a network of stakeholders including licensed and registered entities, policymakers, other government agencies, and most importantly, the investing and consuming public.
A THOROUGH APPROACH
With such a vast portfolio of products and responsibilities, FSC Barbados’ core activities span the supervision and regulation of a number of sectors and business areas, including insurance, credit unions, securities, and occupational pensions. The other business activities fall within FSC Barbados’ corporate services.
Firstly, as a financial product that helps individuals and corporations recover from adverse events, insurance is a vital form of financial protection.
The Supervision and Regulation team supervises the business activities associated with insurance companies, intermediaries, and other service providers – such as managers and loss adjusters – in accordance with its risk-based supervisory framework.
Barbados’ credit union landscape, meanwhile, comprises memberowned financial cooperatives that accept deposits from their members and provide loans, mortgages, and
investments, among other services.
In overseeing the credit unions sector, FSC Barbados regulates and supervises these institutions as part of its mandate to protect the safety and soundness of the financial system.
Regarding the securities sector, FSC Barbados oversees the country’s securities market and investment fund industry, which comprises three
HOW IMPORTANT ARE COLLABORATIVE RELATIONSHIPS TO THE MANDATE OF YOUR ORGANIZATION?
Warrick Ward, CEO: “Collaboration is at the heart of how we do business at FSC Barbados.
“Our mandate is too important to tackle alone, so we place real value on strong partnerships – whether with our regulated entities, government, regional, and international peers, or the public we serve.
“These relationships allow us to share insights, respond to challenges faster, and build a financial system that people can trust.”
subsectors – capital markets, funds, and public insurers of securities.
As part of its role, FSC Barbados is responsible for managing both companies and individuals undertaking securities in Barbados. Operators in this market include securities companies, brokers, traders, dealers, investment advisers, underwriters, and more.
The Supervision and Regulation team, in overseeing the pensions sector, works hard to administer the Occupational Pension Benefits Act Cap. 350B (OPBA) through a vast range of responsibilities including registering new occupational pension plans, occupational registered retirement savings plans, and pension plan amendments, while also monitoring their financial status, assessing plan risks, implementing mitigation measures, and much more.
Through the registration and licensing of entities, FSC Barbados’ process reflects an assessment of the suitability of applicants who wish to operate within the insurance, credit unions, securities, and pensions sectors.
This has proven to be vitally important as effective licensing is a critical component within FSC Barbados’ regulatory framework and ensures industry-specific legislation is taken into account with each applicant.
Furthermore, registration and licensing are the ‘first port of call’ for prospective financial entities, where preliminary reviews of the applicants’ packages and documentation are conducted to coordinate the issuance of licenses and certificates.
The Supervision and Regulation team remains dedicated to providing timely responses, world-class service, and being highly flexible to the changing business environment, seeking to increase efficiency and effectiveness in application processing.
Always with our clients and strategic partners
A global, specialized, and innovative company
Briefly introduce us to Active Capital Reinsurance, Limited?
Always with our clients and strategic partners
Active Capital Reinsurance, Ltd. (Active Re) is a Barbadosdomiciled reinsurer founded in 2007, holding a General Insurance and Reinsurance Licence issued by the Barbados Financial Services Commission (FSC). In 2015, the company began its transformation from a regional monoline reinsurer into a global multi-line reinsurer, a process driven by a progressive diversification strategy that has proved highly successful.
partner, accompanying our clients as they grow, transform, and strengthen their resilience.
A global, specialised and innovative company
Can you please tell us more about your status as a global, specialized, and innovative reinsurance company and how you’ve worked to achieve this?
Active Re’s specialized reinsurance solutions, offered on both facultative and treaty bases, include Affinity and Group Protection, Property and Engineering, Energy and Power, Credit and Surety, Financial Lines, and Marine. These are underwritten directly by our in-house teams or through long-term agreements with strategic partners organized as Managing General Agencies (MGAs). Currently, the company continues to strengthen the successful implementation of its strategy by developing new agreements with MGAs and expanding capacities across multiple business lines worldwide. All operations and processes are founded on solid ethical principles and fully comply with international regulations on antimoney laundering, counter-terrorism financing, and the prevention of the proliferation of weapons of mass destruction.
By year-end 2024, Active Re operated in 137 countries, serving 653 cedants through 170 brokers, 7 MGAs, and 6 facilities. With our multicultural team of 83 professionals, based in 17 cities across 14 countries and fluent in 12 languages, reflects the reach and agility of a truly global reinsurer. The company maintains an A (Excellent) Financial Strength Rating from AM Best, underscoring its strong capital position, resilience, and the consistently high standard of service delivered to clients and partners worldwide.
What, for you,
differentiates Active Re from the competition?
Our differentiation rests on four strategic pillars: disciplined technical risk management, solid financial strength, a forward-looking vision, and a distinctive business model that integrates in-house underwriting with long-term partnerships through Managing General Agents (MGAs). Beyond our A (Excellent) rating from AM Best, what really sets us apart is the way we nurture long-term relationships built on trust, transparency, and closeness to our clients. We are agile in responding to global challenges and rely on a multicultural team whose innovation, diverse perspectives, and tailor-made solutions add real value. At Active Re, we go beyond providing reinsurance capacity - we become a strategic
As a company, we have consolidated our position as a global, specialized, and innovative reinsurer through a disciplined strategy of expansion across both emerging and developed markets, supported by a deep understanding of local dynamics and the needs of our clients. Innovation has been at the heart of this journey. We have incorporated advanced digital tools into underwriting and risk analysis, enabling more precise decisions and greater efficiency for those we serve.
At the same time, our business development efforts and collaboration with strategic partners worldwide have strengthened our ability to identify opportunities, expand capacities, and deliver solutions tailored to the realities of
CEO, Mr. Ramón Martínez
each market. The diversity of our team and the strength of our international alliances allow us to design bespoke solutions that meet the technical complexities of the reinsurance sector while aligning with the principles of sustainability and operational excellence that guide our business model.
Always with our clients and strategic partners
This balance between disciplined growth, technical expertise, and continuous innovation, has been key to shaping our reputation as a forward-looking and specialized reinsurer.
What completed, ongoing, or recent projects or investments would you like to showcase?
One of the milestones I am most proud of is the celebration of our 18th anniversary. It was more than a commemoration - it gave us the chance to reflect on nearly two decades of sustained growth and to look ahead to the next chapter. Another highlight was opening our new offices in Barbados, reaffirming our long-term commitment to the jurisdiction where Active Re was founded and strengthening ties with Mr. Warrick Ward, CEO of the Financial Services Commission Barbados, whose support has been invaluable in consolidating our footprint. I would also mention the reaffirmation of our A (Excellent) Financial Strength Rating by AM Best, which validates our financial discipline, risk management, and ability to honor commitments. These achievements are not only milestones in our history - they embody the values that guide us: agility, innovation, and a commitment to supporting our partners in an evolving global reinsurance market.
Looking ahead, what are your key priorities for the coming year?
Looking ahead, our priorities build on the progress we reported in 2024. We will continue to strengthen the diversification of our portfolio, ensuring sustainable growth across lines of business and geographies, with an emphasis on well-established markets. Deepening the digitalization of our processes remains key as we integrate advanced technology to enhance underwriting, risk analysis, and the client experience. We also aim to consolidate our footprint in high-potential regions, particularly Latin America, Europe, and Asia,
by expanding capacities and fostering long-term relationships with cedants, brokers, and MGAs. Alongside these priorities, we remain focused on maintaining strong financial discipline and technical excellence, ensuring that our solutions continue to meet the evolving needs of the reinsurance market.
Above all, our goal is to earn and preserve the confidence of our clients, positioning Active Re as a global benchmark in risk transfer, ready to anticipate change and respond effectively to market dynamics.
Is there anything that hasn’t been touched upon that you would like to be mentioned?
I truly appreciate the opportunity to share our journey through this publication, as it reflects how far Active Re has come since its foundation in Barbados, evolving from a local initiative into a truly global reinsurer with a clear vision and a strong sense of purpose. This progress has been possible thanks to the dedication of our team, the trust of our clients and partners, and the support of institutions that believe in our mission. I would also like to extend a warm greeting to Mr. Warrick Ward, CEO of the Financial Services Commission Barbados, whose encouragement has been invaluable in consolidating our presence in Barbados and in strengthening the reputation of this jurisdiction as a respected, well-regulated hub that offers a stable environment, experienced talent, and a forward-looking framework for international reinsurance.
Finally, the Corporate Services team is the operational backbone of FSC Barbados, ensuring that the organization is streamlined, runs efficiently, and is continually aligned with its strategic objectives.
It provides critical support across FSC Barbados and plays an essential role in enabling the organization to fulfil its regulatory mandate.
As such, the Corporate Services team is at the core of ensuring a futureready company, overseeing talent development, resource management, and operational efficiency.
TECH-DRIVEN FOCUS
FSC Barbados proudly leverages a data and technology-driven approach, strengthening its ability to anticipate risks, supervise more effectively, and respond swiftly to market developments.
FSC BARBADOS’ VISION, MISSION, AND VALUES
VISION – To be recognised as a financial services regulator that is committed to integrity, excellence, and the development of Barbados as a sound and competitive financial services centre.
MISSION – To promote soundness, stability, and transparency within Barbados’ non-bank financial sector, using professional staff to provide effective and efficient supervision and regulation in line with acceptable global best practices.
CORPORATE VALUES
• Excellence
• Integrity
• Public accountability
• Transparency
Indeed, FSC Barbados’ use of data analytics helps it spot patterns, stress test vulnerabilities, and provide tailored guidance to industry participants.
Major efforts to enhance efficiency include the use of digital platforms to strengthen FSC Barbados’ service delivery, whether in licensing, reporting, or stakeholder engagement. This forms one aspect of the company’s efforts to update and modernize its entire regulatory framework and infrastructure.
“These enhancements not only
make us more efficient but also build confidence among the entities we regulate and the public we serve,” Ward highlights.
The same can also be said for FSC Barbados’ innovation ecosystem, which is anchored in FSC 2.0 – a transformation program built around three pillars: discover, engage, and innovate.
This framework enables FSC Barbados to actively explore emerging risks, engage stakeholders in meaningful dialogue, and innovate its regulatory and supervisory practices.
“We differentiate ourselves as a jurisdiction that ensures our regulatory framework remains agile, credible, and attractive to investors.”
Meanwhile, initiatives such as robust legislative reforms, an upcoming electronic application management system, and a risk-based supervisory framework are all reshaping how FSC Barbados regulates, creating greater financial efficiency, transparency, and trust across the country.
REINFORCING REGULATORY CREDIBILITY
FSC Barbados has an enviable list of projects that have helped cement its position at the top of the non-bank financial sector and are key to its ongoing transformation.
For example, FSC Barbados’ reformulated supervisory framework,
which continues to be refined through ongoing legislative reform, brings sharper risk-based supervision, ensuring resources are directed to where they are needed most.
These areas in focus include structural reorganization, risk-based supervision, integrated examinations and desk reviews, revised risk assessment models, agile guideline development, and focused oversight of systemically important institutions.
Perhaps the most ambitious aspect of its current transformation, however, is FSC Barbados’ Legislative Reform Project.
“By modernizing securities legislation and related frameworks, the reforms aim to make Barbados an attractive and competitive destination for investment funds, capital markets activity, and wealth management
services,” Ward informs.
In fact, FSC Barbados has embarked to revamp the entire suite of legislation, such that the new legislation is principles-based and sufficiently flexible to maintain the necessary levels of regulatory rigor while ensuring that the environment is sufficiently appealing to market participants.
From climate risks to demographic shifts, the project is designed to build flexibility into the legal framework, enabling adaptive responses as new risks and opportunities emerge.
Elsewhere, FSC Barbados’ newly designed and rolled-out website and social media platforms greatly enhance its stakeholder engagement.
“These embody our commitment to transparency and accessibility, broadening our reach,” he states.
“OUR MANDATE IS TO SAFEGUARD THE INTEGRITY AND STABILITY OF THESE MARKETS, PROTECT CONSUMERS, AND PROMOTE GROWTH AND INNOVATION IN THE NON-BANK FINANCIAL SECTOR”
– WARRICK WARD, CEO, FINANCIAL
SERVICES COMMISSION BARBADOS
ICBL – ALWAYS THERE WHEN YOU NEED US MOST
Company Background
For forty-seven years, the Insurance Corporation of Barbados Ltd. (ICBL) has stood as a pillar of strength in Barbados’ insurance industry. Founded in 1978 by the Government of Barbados as a statutory organization and later privatized in 2000, ICBL has since become a trusted market leader with shares actively traded on the Barbados Stock Exchange. Its shareholder base includes institutional investors and individuals alike.
Renowned for financial stability, excellent customer service, and innovative products, ICBL remains one of the few fully composite insurers in the country. The company provides a comprehensive portfolio across all classes of insurance, including individual life and health, annuities, pensions, motor, property, and casualty.
With a strong capital base and prudent risk management practices, ICBL has built a reputation as a reliable partner for policyholders and investors. As of December 31, 2024, total assets stood at BDS $348 million, with total equity at BDS $114 million. Complementing this robust balance sheet is a reinsurance panel comprised of A-rated reinsurers, including Lloyd’s syndicates.
Headquartered on Roebuck Street in Bridgetown, ICBL employs a dedicated team of 175 full-time staff under the leadership of Chief Executive Officer Goulbourne Alleyne. He is supported by a capable executive team that includes COO Rawle Knight; CFO and President of International Operations Richard Boddy; VP & Head of Actuary Ian Clarke; VP Finance Creig Hinds; AVP Human Resources Gail Hinkson; AVP Life Operations & Technical Underwriting Pamela Lowe; and AVP Marketing & Sales Rhea Mapp-Bynoe.
The Board of Directors is chaired by principal shareholder Joe Poulin and includes Vicky Bathija, James Edghill, John Howard, Jerome Letter, Marsha Caddle, alongside CEO Goulbourne Alleyne and COO Rawle Knight.
Our Values
At the heart of ICBL are the values of integrity, continuous improvement, collaboration, and courage. These principles guide every interaction and decision, ensuring the company’s promise— “Always there when you need us most”—is more than a tagline, but a lived commitment.
Customer experience remains a foremost priority. Quarterly surveys help identify areas of improvement, ensuring operations remain responsive to client needs. This consistent engagement has fostered a loyal customer base that has stood with ICBL for nearly five decades.
Technological Advancement
Over the past five years, ICBL has invested heavily in technological innovation to provide customers with modern, convenient solutions. Its cuttingedge operating system, supplied by a globally topranked vendor, supports seamless transactions including quotes, referrals, policy administration, billing, claims processing, policy documentation, and CRM.
The Company’s online portal further empowers clients, offering 24/7 access to policy renewals, payments, and new business transactions— making insurance simple, safe, and accessible.
Giving Back to the Community
ICBL’s success is deeply rooted in its community, and giving back remains a cornerstone of its identity. Through an active Corporate Social Responsibility (CSR) programme, the company supports initiatives in health, youth, literacy, sports, and community outreach.
Significant financial contributions are made annually to organizations such as:
• The Heart and Stroke Foundation of Barbados – supporting cardiovascular treatment and rehabilitation.
• The Barbados Cancer Society – aiding early detection, breast screening, and treatment initiatives.
• The Barbados Diabetes Foundation –assisting with its comprehensive “one-stop shop” diabetes care centre.
• Challenor Creative Arts & Training Centre –serving individuals aged 5-50 with physical or mental disabilities.
• The Barbados Red Cross Society – enabling emergency response training, disaster relief, and humanitarian assistance.
• The Barbados Salvation Army – supporting feeding programmes and Meals on Wheels to the immobile and foodless.
Championing Literacy: The ICBL National Junior Spelling Bee
Since 2019, ICBL has proudly hosted the National Junior Spelling Bee Competition, endorsed by the Ministry of Education. Now in its sixth year, the competition has become the flagship of ICBL’s CSR efforts, inspiring a culture of reading while strengthening verbal and written communication skills among young Barbadians.
In 2024, the company went further by organizing a national book drive, collecting more than 2,300 books. These were distributed to 20 primary schools at a Book Fair, where teachers could personally select books for their students. This
initiative underscores ICBL’s commitment to equipping the next generation with the tools to succeed and create a brighter future for the country.
Commitment to Sustainability
ICBL also leads by example in environmental responsibility. Having earned its first Green Business Certification in 2014, the company is now proudly certified at Tier Four. Initiatives include solar panels, an electric vehicle for courier service, office-wide recycling, energy-saving occupancy sensors, and water-efficient fixtures. Each step reflects ICBL’s dedication to reducing its carbon footprint and promoting sustainable business practices.
Looking Ahead
In an increasingly competitive and evolving landscape, ICBL is well-positioned for continued growth. Guided by a culture of agility, efficiency, and customer-centricity, the company is advancing digitization, simplifying processes, and developing innovative products to meet emerging risks and opportunities.
CEO, Goulbourne Alleyne, remains confident in the team’s ability to deliver shareholder value while maintaining relevance and sustainability:
“We will continue to optimize performance and strengthen operational effectiveness across the organization. With the talent and commitment of our team, ICBL is ready to embrace the future while remaining true to our promise—always there when you need us most.”
“BY MODERNIZING
SECURITIES LEGISLATION
AND RELATED FRAMEWORKS, THE REFORMS AIM TO MAKE BARBADOS AN ATTRACTIVE AND COMPETITIVE DESTINATION FOR INVESTMENT FUNDS, CAPITAL MARKETS ACTIVITY, AND WEALTH MANAGEMENT SERVICES”
In a similar vein, FSC Barbados’ application management system – the latest digital tool soon to be launched – is set to streamline licensing and registration, building efficiencies and reducing administrative burdens on the organization and its stakeholders.
“Each project is important because it reinforces our credibility as a regulator while making tangible improvements in how we serve the public and industry,” Ward urges.
A RESPONSIBLE CORPORATE FIGURE
As a service-based entity, FSC Barbados’ staff are the heartbeat of the organization. Its people are empowered by investing in opportunities for continuous training, providing room to contribute to policy development, and encouraging innovation at every level.
“Recognition comes in both formal and informal ways – from service-years recognition to the acknowledgement of personal and professional achievements. Most importantly, we strive to create a workplace that values professionalism, collaboration, and respect,” Ward emphasizes.
As part of this aim, FSC Barbados strives to create a healthy worklife balance for its staff, making it a performance strategy rather than just a staff perk.
“We desire for our employees to have the energy and headspace to do great work and still enjoy life outside the office.”
For this reason, FSC Barbados supports the FSC Sports and Social Club, which builds camaraderie through year-round social and sporting activities for staff and provides a corporate gym membership so that staying active is
easy and affordable.
“We also run quarterly team building initiatives in every department to strengthen trust, improve collaboration, and keep teams connected – healthy teams regulate better!” Ward points out.
CORPORATE SERVICES TEAM’S MAIN SERVICES
IT – Oversees and maintains FSC Barbados’ technological infrastructure, ensuring its regulatory operations are fully supported by secure and effective information systems.
FINANCE – Controls FSC Barbados’ financial planning, budgeting, and accounting, facilitating fiscal responsibility and accurate financial reporting.
CORPORATE COMMUNICATIONS – Coordinates both internal and external communications for the organization, enhancing its public image and ensuring clear dissemination of information.
HR – Organizes recruitment, training, and employee welfare, fostering a productive and motivated workforce.
RISK MANAGEMENT – Identifies, assesses, and mitigates potential risks for FSC Barbados, ensuring its resilience and compliance with regulatory standards.
RESEARCH AND POLICY – Undertakes research and develops policies to guide FSC Barbados’ regulatory framework, ensuring alignment with industry best practices.
INTERNAL AUDIT – Conducts independent evaluations of the FSC Barbados’ operations and controls, allowing for adherence to industry policies.
LEGAL – Provides legal advice and support for FSC Barbados, managing legal risk and compliance with laws.
CORPORATE PLANNING, MONITORING, AND EVALUATION – Collaborates with the Executive in developing and directing the strategic and long-term goals of FSC Barbados, including monitoring and evaluating success against agreed goals and objectives.
PROPERTY ADMINISTRATION – Manages FSC Barbados’ physical assets and facilities, creating a safe and functioning working environment.
This same ethos is extended to FSC Barbados’ external activities in the community, as it believes its responsibility expands far beyond financial regulation.
As such, it actively supports local youth and the wider community by sponsoring several projects led by schools, sports teams, industry associations, and community groups.
In addition, FSC Barbados’ staff participate in volunteer activities and support national causes such as disaster relief and community development.
“These efforts reinforce our role as both a regulator and responsible corporate citizen,” Ward acknowledges.
A FORWARD-LOOKING MINDSET
The year 2026 looks to be an important one for FSC Barbados as
it will mark the 15th year in operation – a milestone that underscores its evolution and resilience.
“This is a perfect opportunity to celebrate our achievements, thank our stakeholders, and reaffirm our commitment to building a sound, innovative, and trusted non-bank financial sector in Barbados,” Ward exclaims.
FSC Barbados plans to mark this achievement by rolling out a new flagship event, something that it looks forward to sharing more about in the new year.
Other priorities include deepening the implementation of the risk-based supervisory framework and steadily introducing enhanced technology and data analytics in regulation processes.
Externally, FSC Barbados strives to enhance public education in the local vicinity by continuing
to utilize innovative community outreach opportunities, as well as strengthening international partnerships to ensure Barbados remains aligned with global standards.
FSC Barbados also plans to continue the cultural and digital transformation of the industry landscape, ensuring agility, transparency, and accountability.
“In short, our goal is to remain a regulator that is not only effective but also forward-looking,” Ward closes.
OUT-OF-THIS-WORLD PROJECTS
Based in Texas – the Lone Star State – with a focus on building thriving places through trusting relationships, Galaxy Builders (Galaxy) is an industry leader when it comes to the ever-crucial
construction sector.
Since last speaking to the company in May 2024, Galaxy remains hyperfocused on multifamily construction and building new properties from the ground up. However, it has
recently expanded its services with a renovation division, growing its data technology department, and launching a brand-new sister company – Galaxy Custom Pools.
“We build all over Texas, but mainly
OUT-OF-THIS-WORLD
As one of Texas’ leading general contracting firms, Galaxy Builders has built a reputation for excellence and delivery of topof-the-line projects. We revisit the award-winning company with Alan Gonzales, Executive Director of Business Development
Writer: Lauren Kania | Project Manager: Sam Warner
in the tri-city corridor and Dallas-Fort Worth metropolitan area, down to San Antonio, and over to Houston,” introduces Alan Gonzales, Executive Director of Business Development. “Our clients are developers who
look for an experienced value-add general contractor.”
The company is home to 108 employees whose positions range from in-office to field staff and project management to superintendents.
Currently, Galaxy is bidding and pricing more contracts than ever before, with a robust pipeline of projects and a steadfast belief that the future is bright for both the company and Texas as job growth continues to
The Ovilla pool and cabana
soar throughout the state, specifically in the Dallas-Fort Worth market.
“New construction starts are slow for the year, and there are external market factors for this – high interest rates being one of the primary components. However, I look at this as the calm before the storm,” details Gonzales.
“Galaxy remains as excited as ever to be in the multifamily construction space.”
The company’s core values are at the heart of every decision it makes, with loyalty being one of the most important. As such, Galaxy remains loyal to its staff and will do everything possible to retain key players as it looks forward to an exciting future with several closings planned for Q4 2025 and Q1 2026.
UNMATCHED EXPERTISE
Gonzales graduated with a bachelor’s
degree in marketing and international business from Baylor University, Texas, and has spent his career specializing in developing and nurturing relationships and driving new business initiatives.
In his current position, his focus remains on Galaxy’s clients, strategic planning, and collaboration to provide unmatched service to the team and local communities.
Gonzales works to differentiate the company from the competition through its five unique traits, which comprise being Texas-proud, having decades of experience with a forwardthinking mindset, establishing a culture of building people, being an invested general contractor, and conducting operational excellence through an entrepreneurial operating system (EOS).
“As a Texas-based and owned general contractor, Galaxy brings
unmatched regional expertise, deeprooted relationships, and a passion for building stronger communities across the Lone Star State. We understand the local landscape because it is our own backyard,” expands Gonzales.
With over 34 years of proven success, the company combines historical knowledge with cutting-edge technology and a data-driven approach to deliver consistent results across both affordable and market-rate housing.
This includes 75 US Department of Housing and Urban Development (HUD)-financed projects, highlighting the company’s ability to combine its vast experience with an innovative mindset.
When it comes to Galaxy’s culture of building people, it is proud to be considered a top workplace in San Antonio.
Alan Gonzales, Executive Director of Business Development: “With the threats of tariffs on several products and materials we use in multifamily construction, our relationships with trade partners and suppliers are more important than ever.
“They are crucial to the success of our business. Luckily, we have over 34 years of experience in the Texas market, and our relationships run deep to find solutions to get projects within budget and built on time. While there are several subcontractors throughout Texas, we consider those we work with to be our trade partners.
“We started this year with a trade partner appreciation event where we gave a state of the company address, had a special guest speaker, provided lunch, and paid for a round of golf. The reason we did this was to let our partners know how important they are to the success of Galaxy and how much we appreciate them.”
“GALAXY REMAINS AS EXCITED AS EVER TO BE IN THE MULTIFAMILY CONSTRUCTION SPACE”
– ALAN GONZALES, EXECUTIVE DIRECTOR OF BUSINESS DEVELOPMENT, GALAXY BUILDERS
and a work hard, play hard culture which goes beyond the office and jobsite to impact the community. At Galaxy, our people and community are the foundation of our success!” prides Gonzales.
To emphasize its position as an invested general contractor, the company takes a value-added approach, aligning with its clients’
goals to create a lasting impact in the communities it serves.
Finally, in terms of operational excellence through EOS, Galaxy has built a process that ensures accountability, transparency, and efficiency at every level.
“We don’t just build communities; we have built a proven process,” asserts Gonzales.
Cambrian East Riverside
The Ovilla aerial view
The Ovilla clubhouse interior
BUILDING OPERATIONAL EXCELLENCE
Recently, Galaxy completed Caliza Ridge in San Antonio – a luxury apartment complex that includes a 12,000+ square foot clubhouse with amenities such as a fitness center, meeting rooms, resort-style pool, and more. Additionally, the company has nearly completed Leon Creek Flats, a 308 multifamily gated community that serves the affordable housing needs of San Antonio. This complex was designed for comfort and convenience and boasts a plethora of family-friendly amenities without the luxury price tag.
Projects aside, Galaxy’s new 2025 Galaxy Renovation division was recently initiated.
“As new projects have slowed, we have several clients who have properties for long-term holds of 15 years or more. These locations require renovation over time, and we can now be there for those specific needs,” expands Gonzales.
Equally, the company’s new venture – Galaxy Custom Pools – was created in 2025 out of necessity, not just to add another revenue source. With most pool companies focusing on residential contracts, Galaxy’s multifamily pool projects began to fall behind. Today, the projects that the custom pool division have been awarded are already ahead of schedule and under budget, showcasing its multifaceted abilities.
For the company, giving back to the communities it serves has always been a significant initiative, hence why it recently began its Community Impact Group (CIG).
“We created CIG to ensure we are doing everything we can with the staff and resources we have,” details Gonzales.
“Our largest philanthropy effort to date has gone to the American Heart Association (AHA). This year, we will hold our 10th Annual Arun Verma Golf Tournament and fundraiser for this cause. To date, we have helped raise over $500,000 for AHA as our founder, Arun Verma, sadly passed away from heart disease.”
Galaxy holds this tournament in Verma’s honor to help raise funds and awareness for a large community that is impacted.
Caliza Ridge clubhouse interior
Caliza Ridge clubhouse exterior
Caliza at The Loop built-to-rent townhomes
A CULTURE OF CONTINUAL GROWTH
Galaxy uses a proven process to achieve success in all its endeavors, which includes preconstruction, project pulse, monthly meetings, 90-minute meetings, and closeout, allowing the company to achieve its goal of building thriving places through trusting relationships.
“This process is included with every proposal. It explains what we offer and how we take a project all the way through to conclusion,” denotes Gonzales.
“It is part of our guarantee. There may be problems, but we will always find a solution.”
GALAXY CORE VALUES
• LOYALTY
• GENUINE CARE
• PROFESSIONAL
• ACCOUNTABILITY
• PEOPLE DEVELOPMENT
• AUTHENTICITY
• UNITY AND POSITIVE SPIRIT
Parallel to the company’s dedication to its clients, Galaxy recognizes the crucial impact its staff have on the continued success of the business and values their effort on a daily basis.
The staff’s loyalty to the company is evident in the longevity of their tenure and Galaxy being named the top place to work in San Antonio for nine years in a row.
“We have staff who have been here for over three decades. We also have ‘state of the company’ meetings every quarter, where all field and office staff attend to get an update on how we are doing as a company and where we plan on going in the next quarter,” concludes Gonzales.
This allows for transparency and a day of fun away from the normal workday. Galaxy awards ‘employees of the quarter’ and has an end-of-year holiday party where it recognizes ‘office and field staff of the year’, all of which takes place in front of the entire company.
This cements Galaxy’s dedication toward an innovative, supportive, and successful workplace environment.
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FROM PIG PEN TO POWERHOUSE
Working tirelessly to take a mess and leave a difference, New Pig has established itself as the world’s best for leaks, drips, and spills. We learn more about the company’s incredible journey to becoming the ultimate partners in grime with Chairman and CEO, Clark Stapelfeld
Writer: Ed Budds | Project Manager: Poppi Burke
More than four decades after a fateful experiment with pantyhose and ground corn cob kicked off the start of a new industrial category, New Pig remains the name hundreds of thousands of facilities worldwide trust for a cleaner, safer, and better workplace – whilst also remembering to have a little fun in the process.
Over that same timespan, New Pig’s parent company, New Pendulum, has quietly built a diverse portfolio of 14 entities and is now increasingly visible internationally as it delivers further acquisitions.
Today, Clark Stapelfeld holds dual roles as Chairman and CEO of New Pig as well as CEO of New Pendulum.
“In 1985, my father, Ben, was running an industrial cleaning business that involved after-hours
crews cleaning manufacturing plants to prepare them for the next shift.
“Pretty quickly, he realized the real drag on efficiency wasn’t general cleaning and preparation; it was in cleaning up fluids – oils, coolants, and everything else that found their way onto floors,” he introduces.
At that time, the standard of the day for dealing with spills was to employ
loose clay granules that were heavy, dusty, and inefficient to use or clean up.
Beginning with the goal of making the company’s own clean-up operations more efficient, the tinkering began as they cut up pantyhose and tried every filler they could think of – from sawdust to rice hulls – ultimately landing on ground corn cob.
“It was a very well-suited material in a variety of ways, namely because it was light, highly absorbent, and readily available from the surrounding farms of Central Pennsylvania.
“That’s effectively when the first iteration of our PIG Original Absorbent Sock was born, and it would go on to change how facilities handled leaks and spills forever,” Stapelfeld sets out.
New Pig building
DID THE INFLUENCE OF NEW PIG’S UNIQUE PATH TO MARKET AFFECT NEW PENDULUM AS WELL?
Clark Stapelfeld, Chairman and CEO: “It did, and still does, in many ways. Beyond the financial impact New Pendulum derived from New Pig’s growth, it created two unique factors for us.
“Firstly, many of the leadership teams with whom New Pendulum engages already know the New Pig brand and our reputation based on those decades of being present in the industrial market. It helps to jump-start those discussions when a leadership team is already familiar with your body of work.
“Secondly, many organizations with which we engage have struggled with marketing and sales at scale in the past, and New Pendulum having this level of sales and marketing competency in-house is uniquely attractive.
“New Pendulum offers the same level of talent and thinking that made New Pig successful, which is almost always of interest in discussions. We don’t put our family of brands under the control of outside agencies or third parties.”
It wasn’t an overnight success, however, as initial market adoption of this new way of handling spills, like many start-ups in new categories, was difficult, inconsistent, and had quite a few false starts.
THE PATH TO MARKET
The largest obstacle to New Pig’s successful market entry at the time was that distributors, the most conventional path to selling industrial products, were proving to be very difficult to penetrate.
“Simply put, industrial distributors at the time weren’t interested in putting in the effort to educate the market to sell what was a new product category. They also made it especially evident that they weren’t willing to do so for an unknown start-up,” Stapelfeld recalls.
After a number of rejections from industrial distributors, the decision was made by the company to sell its products directly to manufacturing plants, namely through what would be referred to as a ‘mail order catalog’ at the time.
“Cataloging was an approach that may have been proven through the retail channel by companies like L.L.Bean, but it was not an approach that was applied to the industrial business-to-business (B2B) domain.
“We would then begin publishing what would be referred to as the ‘Pigalog’ which, despite being a lift in terms of creation, would allow us to directly control our approach to educating the market,” he adds.
Furthermore, the decision to diverge from the norm and speak directly to customers was a foundational decision for both New Pig and New Pendulum.
Fast forward to today and management of the latter includes many of the same people who play leadership roles at New Pig – and that is by careful design.
“We have proven
our approach and built unique competencies in the success of New Pig over more than four decades, so our belief is if we seek to create similar levels of performance in other companies, those leaders and competencies are a natural fit,” Stapelfeld notes.
This structure represents a prominent strength for New Pendulum as it has built significant in-house resources to help ensure the success of any new acquisition.
The company doesn’t have to rely on outside consultants thanks to a system and standards built from direct experience and an established history of success.
BUILDING THE BRAND
Looking back at the company’s history and where New Pig is today purely from a business case perspective, it’s clear to see that its initial approach created a cascade of unique conditions.
“It took one central facet of difference – our path to market – and that facet influenced everything we do. In the lives of many organizations, there are a relative handful of decisions and outcomes that have outsized impacts downstream, and this was one for us,” Stapelfeld affirms.
“WE RALLY AROUND OUR MANTRA OF ‘CLEANER, SAFER, BETTER’ AS WE REALIZE WE HAVE SIGNIFICANT ROOM TO OPERATE BEYOND JUST OUR CORE DOMAINS”
– CLARK STAPELFELD, CHAIRMAN AND CEO, NEW PIG
For example, its early reliance on the Pigalog to represent the brand meant New Pig needed to be able to create and house all the various assets in order to create a product catalog every month.
“Therefore, we effectively have an internal ad agency at New Pig, from copywriting and photography to
design and project management.”
When an organization has that frequency and volume of product messaging pushing into the market, it necessitates the ability to capture customer feedback and questions to be able to modify those messages, which led to the company having a robust feedback reaction function and processes.
“Capturing and routing those verbatim questions from customers then led to a significant amount of product development ideas, around which we built new product offerings and market segments,” he explains.
Arguably, the most important by-product of New Pig controlling its messaging in the market was that it allowed the company to create its own voice and identity, as well as building its brand directly in the minds of customers.
“Every time we released a new product or service, we were able to describe the development story, applications, and differentiators fully, as well as using what would become our trademark humor.”
A UNIQUE PORTFOLIO
Ultimately, what would become especially unique in the industrial space is that New Pig built a brand and portfolio of products without having its story dampened through multiple steps of distribution or dependence on the translation of a message through third parties.
“It’s the classic ‘telephone game’ dynamic – only so much of the intended message will find its way through the chain of translation,” Stapelfeld acclaims.
“Somewhat ironically, it was our ability to build a strong brand and proven product portfolio ourselves that later made us attractive to the industrial distributors that were initially uninterested.”
As such, the New Pig identity went from an unknown start-up to a brand that customers were actively asking their distributor sales reps for – a demand from customers that would prove essential.
Over the coming years, New Pig would grow into the number one industrial absorbents brand worldwide, helping facilities respond to every type of leak, drip, and spill imaginable.
MASONWAYS is a diversified manufacturer of rotational molded plastics. Founded in 1983, it has produced a wide range of products including patented solutions for C-stores, fuel chains, supermarkets, mass merchandisers and foodservice.
“We currently sell nearly 10,000 products and have expanded our mission around the goal of ‘Cleaner, Safer, Better’,” he prides.
FRESH OPPORTUNITIES
As demand increased for core New Pig products, this upswing also began to drive interesting opportunities organically to extend the company’s product lines and capabilities.
Sometimes, this would involve partners and vertical integration opportunities, whereas on other occasions, early-phase or start-up opportunities would come into play, whether in New Pig’s core spaces or adjacencies.
“Interestingly, over time, external leadership teams saw how we conducted ourselves and our business, and that began to be a significant source of discussions.
“In essence, owners would see parallels or similarities between New Pig and what they would want for their own company, and that would be the basis of their reaching out to New Pendulum,” Stapelfeld expands.
In the past, New Pendulum was very much a silent entity providing financing and high-level strategic guidance for companies.
However, in the past two years, New Pig has been shifting toward New Pendulum being more visible and
aggressive in positioning itself to grow the broader family of companies.
“It’s been an organic process in many ways – like-minded individuals building like-minded organizations and cultures. It’s an exciting time for us, and it’s exciting to see the reception we get when talking to potential acquisitions,” he muses.
As such, understanding other businesses and their needs is always interesting for New Pig.
DIVERSE GROWTH
New Pig prides itself on being a family-managed corporation that acquires and builds for the long term.
WE KNOW THAT MANY ORGANIZATIONS ARE CHALLENGED BY CONTINUITY. WHAT WAS YOUR PATH TO DECIDING TO STAY IN THE FAMILY BUSINESS?
Clark Stapelfeld, Chairman and CEO: “I was originally planning on attending law school. However, in the fall of my junior year of college, New Pig experienced one of the most pivotal moments in its history when a fire wiped out a vital customer service and distribution center at our Tipton headquarters.
“Fortunately, it was late in the evening and the small crew on shift managed to detect the problem and evacuate the building with no injuries. I remember seeing the story on the news while I was away at college.
“I called my father and he said, “You’re studying business. Want to get your real-world MBA? Come home and watch this.” Fortunately, I took his advice; it was an amazing thing to see.
“The company lost virtually all its inventory, in addition to the call center. As a mail order catalog company in a time before e-commerce really existed, it represented the loss of all the core operational functions that drove the business.
“It was amazing to watch New Pig and our people rally together. By the next day, they were taking calls in makeshift call centers; by the end of the week, they were shipping orders. I realized as I watched them navigate through this difficult situation that I would be crazy not to at least start my career there if I had an opportunity to. So, I did and I never left, and I never want to.”
“Over the decades, we’ve added and held companies that fit our criteria and benefit from shared capabilities. One of our holdings sells across 13 distinct channels; another works with more than 1,300 distribution partners,” Stapelfeld tells us.
Even with that diversity, the center of gravity for New Pig is B2B and the needs of modern manufacturing.
That said, the company employs a ‘go anywhere’ strategy and considers numerous potential organizations across a wide spectrum of sizes and categories.
“We’re realistic about organic growth in a nearly 40-year-old enterprise – it’s important, but not the whole story.
“Acquisitions let us extend strengths into adjacencies where our core capabilities, such as omnichannel sales, marketing, operations, and sourcing, can create durable value. We don’t buy to flip – we buy to invest,” he asserts.
Furthermore, New Pig’s integration approach is extremely hands-on.
“When looking to acquire, at present, we see a real path for long-term growth, and we have the resources and people to help a company get there. That’s one reason 13 of our 14 historical acquisitions remain in the portfolio today.”
SPILLTECH has manufactured high-performance polypropylene sorbents for distributors since 1971. Their Smart Spill Solutions™ for industrial maintenance and cleanup include a wide variety of products for almost any leak or spill application. PART OF THE NEW PENDULUM FAMILY OF COMPANIES
PART OF THE FAMILY
One factor that underscores how New Pendulum is different from the competition is that while the family of companies might use acquisitional language, it doesn’t ever internally refer to its portfolio as such.
“The word portfolio works against how we view and operate, and when used in the investment sense implies a certain impersonal, ‘buy low, sell high’ mentality that most would associate with private equity. That’s definitely not our style or who we are,” states Stapelfeld.
“Instead, we refer to New Pendulum as a family of companies because for us, mutual respect is the ground floor – internally, externally, everywhere.”
New Pendulum uses this term because families share values without being identical, and when a company joins, it doesn’t try to turn it into a carbon copy of New Pig.
“ACQUISITIONS LET US EXTEND STRENGTHS INTO ADJACENCIES WHERE OUR CORE CAPABILITIES, SUCH AS OMNICHANNEL SALES, MARKETING, OPERATIONS, AND SOURCING, CAN CREATE DURABLE VALUE. WE DON’T BUY TO FLIP – WE BUY TO INVEST”
– CLARK STAPELFELD, CHAIRMAN AND CEO, NEW PIG
“Some of our businesses are relationship-heavy and others are transactional. Meanwhile, some are technical and regulation-driven, and others are elegantly simple. The common thread is ultimately building the right experience for the customer,” he continues.
“We’ve learned as much from acquisitions as they have from us. That’s the point – we get better together.”
THE PIGGER THE BETTER
New Pig is the flagship brand of the New Pendulum family and now widely recognized as the worldwide leader in leak and spill management and clean-up products.
The current line-up spans thousands of products – everything from the original PIG Mat and absorbents to spill kits, stormwater and drain protection, and large-scale containment products.
Manufacture of the PIG Grippy Mat – a New Pig solution that reduce slips, trips, and falls
BARDOT PLASTICS was founded in 1973, specializing in custom injection molding. More than fifty years later, it continues to deliver on its founding mantra of “making it right the first time” by blending engineering skills, production capabilities and a deep commitment to quality.
“In the past decade, we’ve expanded successfully into commercial and retail environments with solutions that reduce slips, trips, and falls – led by the PIG Grippy Mat, our adhesive-backed floor safety mat that stays put,” Stapelfeld gushes.
“We rally around our mantra of
THE NEW PIG DIFFERENCE
‘Cleaner, Safer, Better’ as we realize we have significant room to operate beyond just our core domains.”
Additionally, New Pig operates several international units tailored to local needs in the UK, Europe, India, and China. Each of those units runs autonomously to serve customers and
WORKING TIRELESSLY TO TAKE A MESS AND LEAVE A DIFFERENCE – At New Pig, the company is on a different path – one where products, personality, and point-of-view redefine what a clean, safe, and sustainable workplace can be. No one else in the industry works as tirelessly as New Pig does to be the ultimate partners in grime.
WORKING TO STAY ONE STEP AHEAD OF TROUBLE – Wet messes make people slip and productivity slide. They make bad things happen and, when the slop never stops, neither can New Pig’s clients. Day in, day out, it’s the company’s job to help its customers do theirs.
MAKING THE WORLD’S BEST STUFF TO BATTLE THE WORLD’S WORST – New Pig has been taking problems to task since it invented the industrial absorbent industry way back in 1985. Whether workplace woes are small or overwhelming, it will keep plugging away at them until the last drip drops. By taking a cleanslate approach to dirty places, New Pig thinks thoughts others haven’t and makes products others can’t – mats that grip, socks that suck, and drum lids that can be opened with one hand.
CARING ABOUT CLIENTS AND HAVING A FUNNY WAY OF SHOWING IT – By backing up its industrial-strength solutions with incredible customer service, New Pig gets stocked orders out the door within 24 hours, answers the phone before the third ring, and offers a 100 percent money-back guarantee on all PIGbranded products.
regulations in each specific region, and their structures are mirrored appropriately to those needs.
“In 2011, we built out New Pig Energy to focus on engineered containment for shale gas operations, specifically well pad liners, berms, and other specialized systems for oil and gas drilling environments,” he elaborates.
This was a direct example of having the aforementioned customer-centric processes in place, as the company began hearing applications coming from the shale plays that it didn’t have solutions for at the time.
As a result, New Pig started listening and developing products, and it grew into its own organization – one which has since installed over 100 million square feet of well pad liners to date.
RESPONSIBILITY AND PURPOSE
Today, remaining practical and purpose-driven is the company’s mandate for sustainability.
“In the case of New Pig and our international entities, SpillTech and New Pig Energy, those businesses are directly focused on preventing harm to both people and planet,” Stapelfeld sets out.
From helping facilities worldwide comply with environmental regulations to providing a range of products for environmental clean-up and protection and worker safety, New Pendulum’s companies tend to play a very direct and tangible role in sustainability efforts.
On the process side, it has invested in tools and services that help to make spill risk management attainable for customers, a significant aspect of sustainability for many.
One example is New Pig’s Spill Risk Algorithm, a patented methodology that helps facilities identify their unique spill risks and improvement paths.
It’s become a structured way for plants to prevent incidents, avoid fines, and prioritize high-value fixes.
THE GIORGIO FOUNDATION seeks to fund the research of pediatric neurofibromatosis 1 (NF1), a devastating genetic disorder which causes uncontrolled tumor growth. Referred to by some researchers as “the most common disorder you’ve probably never heard of,” there are an estimated 2 million people suffering with NF1 worldwide. Learn more at ENDNF1.org.
PROUDLY SUPPORTED BY
“We’re fortunate to have people who live this and can make it attainable for our customers and partners. For example, Andy James, Vice President of Marketing at New Pendulum and CMO at New Pig, has taught sustainability-driven innovation for over a decade at Pennsylvania State University, translating purpose into process for graduate students and practitioners,” he follows up.
This kind of ‘practical rigor’ is what New Pendulum wants across its companies in terms of how it approaches sustainability.
“Our European operations have also recently achieved carbon neutral status and have begun their future planning. It’s a journey, and we’re all trying to take practical and impactful steps wherever they are practical and practicable.”
NAVIGATING THE NEAR-TERM
Across nearly every domestic manufacturing measure for the last two years, conditions have been challenging for everyone associated with the vast industry in which New Pig operates.
New Pendulum has recently been navigating the same macro headwinds and complexities for its businesses, especially those concentrated in manufacturing and industrials.
“WE HAVE PROVEN OUR APPROACH AND BUILT UNIQUE COMPETENCIES IN THE SUCCESS OF NEW PIG OVER MORE THAN FOUR DECADES, SO OUR BELIEF IS IF WE SEEK TO CREATE SIMILAR LEVELS OF PERFORMANCE IN OTHER COMPANIES, THOSE LEADERS AND COMPETENCIES ARE A NATURAL FIT”
– CLARK STAPELFELD, CHAIRMAN AND CEO, NEW PIG
“We have been resilient and continue growing. Regardless of the prevailing conditions, our job is to keep showing up with excellent products and services, keep moving forward in every aspect within our control, create additional facets of control and stability wherever we can,
and adapt to those conditions we can’t control – that’s been the play for 40 years,” Stapelfeld ascertains. –However, the company has always believed one positive aspect of this challenging environment is that it allows younger employees and newer functions to be pressure-tested.
“The past few years have been especially effective in helping us understand where we can get better as an organization and those people in our rosters who are especially talented under pressure and varying conditions.
“It’s the organizational application of the old adage – ‘smooth seas do not make skillful sailors’,” he cites.
In this way, the company will continue to expand its offering where it’s truly useful and keep sharpening how it serves clients, both digitally and through partners.
“At New Pig, I want us to take a very strong brand into the segments where our analysis says we can make the biggest difference. That means continued investment in product development and, just as importantly, in the systems that make our experience easy and reliable for customers.”
In terms of maintaining a playful brand personality aligned with serious performance, Stapelfeld believes the industry is serious enough already and the company is therefore focusing on protecting people, the environment, and uptime.
“We’ve found that a little levity helps ideas to stick and people to have fun. The brand’s voice makes the complicated more approachable, but the product must still always deliver,” he boldly concludes with a smile.
1-800-HOT-HOGS hothogs@newpig.com newpig.com
THE TECHNOLOGY LEADER SHAPING GLOBAL ENERG Y
Where a century of heritage meets the technology manufacturing of tomorrow, KONČAR Group has achieved enviable prominence in the global energy transition. Gordan Kolak, President of the Management Board, tells us how its portfolio of cutting-edge solutions meets worldwide market demand and shapes a sustainable future
Writer: Lucy Pilgrim | Project Manager: Cameron Lawrence
Aflagship of Croatian and regional industry, KONČAR Group (KONČAR) has evolved over the past century from a small workshop into the nation’s leading net exporter and a globally recognized technology leader.
Today, the company stands as a symbol of strength, quality, and reliability, with a presence in more than 130 markets worldwide.
This unique European story of excellence, dedication, and vision began on 24th January 1921 in Zagreb, the capital of Croatia, with the founding of Elektra Inc. (Elektra), a business focused on electrical and mechanical engineering.
That same year, Elektra became part of the international giant Siemens, and from 1945, operated as Rade Končar.
In 1947, the company launched its serial production of transformers, which began with voltages of up to 35 kilovolts (kV), alongside the
production of small oil-filled and dry-type instrument transformers for distribution networks and industrial facilities.
A year later, Rade Končar reached a major milestone that would shape its future – marked by technological breakthroughs and significant contributions to global engineering and science.
This milestone was the first RK generator, with a capacity of 24 megavolt-amperes (MVA), voltage of 10 kV, and weight of 220 tons, produced for the Mariborski Otok hydropower plant (HPP) in Slovenia.
After 40 years of successful operation, the generator became a museum exhibit and one of the company’s historic symbols.
Since January 1991, just a few months before Croatia declared independence in June, the company has operated as KONČAR.
Today, it is recognized as one of the most prominent examples of technical
expertise and business success in modern industry.
A TRACK RECORD OF EXCELLENCE
Over the decades, KONČAR has manufactured and revitalized more than 700 generators and successfully delivered over 400 HPP construction and refurbishment projects worldwide – either independently or in collaboration with partners.
Today, the company is best known for its expertise in power transmission and distribution, particularly in the development and production of transformers.
To date, it has manufactured and delivered nearly 500,000 transformers, including various types, voltage levels, and capacities.
With KONČAR transformers operating in almost 120 countries, they represent the most globally distributed Croatian industrial product.
Gordan Kolak, President of the Management Board
In addition to its core areas of expertise, the company stands as an undisputed regional leader in renewable energy, power engineering, urban mobility, and infrastructure, as well as digital solutions and platforms. This leadership is firmly supported by key performance indicators (KPIs). For example, last year marked KONČAR’s fifth consecutive year of record-breaking results across all key financial metrics, highlighted by major development milestones and strategic partnerships.
In 2024, the company also achieved consolidated revenue from the sale of products and services exceeding €1 billion, representing an 18.1 percent increase compared to the previous year.
An additional measure of KONČAR’s continued growth was its order book, which surpassed €2 billion as of 31st December 2024 – an increase of 43 percent compared to the beginning of the year.
Moreover, newly contracted business in the same year amounted to €1,667.4 million, up €357.3 million from 2023.
KONČAR continued its steady upward trajectory in the first half of
2025, with Q2 marking over five years of uninterrupted growth.
Compared to the same period in the previous record-setting year, the company achieved a notable increase in consolidated revenue from product and service sales, underscoring its robust market position and operational efficiency.
KONČAR’s strong global competitiveness and the synergy among its companies are best reflected in the export share, which made up a significant majority of total revenue.
Positive developments were also recorded in newly contracted business, further reinforcing the foundation for continued expansion in the coming periods.
Meanwhile, the book-to-bill ratio in the first half of 2025 stood at 1.4, driving the order book to a recordhigh value of €2.3 billion.
AMONG EUROPE’S LEADING TECHNOLOGY POWERHOUSES
In recent years, the global energy sector has entered its most intensive phase of the green transition.
This socioeconomic shift is increasingly evident in the power
industry, which is now facing unprecedented demand for hightech equipment and solutions – particularly in the power transmission and distribution segment.
Thanks to its competitive and globally recognized portfolio, KONČAR has leveraged these market opportunities to achieve historic growth rates and strengthen its position on the international stage like never before.
With top-tier, custom-made products and solutions tailored to meet even the most demanding requirements of customers worldwide, KONČAR has entered a new era of power engineering as a firmly established company among Europe’s most relevant technology manufacturers.
KONČAR’s export performance remains a clear indicator of its strong global positioning and the synergy across its companies.
In the first half of 2025, exports made up a substantial majority of total revenue from product and service sales, further reinforcing the company’s role as Croatia’s leading net exporter.
Compared to the same period in 2024, exports saw a significant yearover-year increase. The European Union (EU) contributed the most to this growth, with EU countries accounting for the dominant share of KONČAR’s total exports.
Among the most prominent export destinations are Germany, Austria, and the Netherlands, while notable breakthroughs have also been achieved in Scandinavian markets, particularly Sweden and Norway, where KONČAR is actively involved in strategic national energy infrastructure projects.
POWERING THE US’ SUSTAINABLE FUTURE
Despite unfavorable forecasts earlier this year related to US administration policies and proposed tariffs,
KONČAR achieved significant additional breakthroughs in the US market during the first half of 2025.
“According to financial reports for the first half of the year, KONČAR recorded substantial revenue growth from product and service sales in the US and Australian markets, more than double the same period last year. This growth was primarily driven by solutions in the power transmission and distribution segment, where KONČAR has been consistently strengthening its global competitiveness,” outlines Gordan Kolak, President of the Management Board.
“In the US market, the most notable export performance came from KONČAR – Instrument Transformers, which achieved a significant year-over-year increase, reflecting the company’s growing
presence and relevance in this strategic region. These results confirm the effectiveness of our long-term strategy and strength of our portfolio in key global markets.
“Such deliveries primarily include transformers of various types and capacities, which serve as key components in major transmission network construction projects across the US market. For example, in just the past three months, we delivered 16 transformers rated at 245 kV and 525 kV to the US, which will be installed at the Heward and Freezeout substations in Wyoming, Little Snake substation in Colorado, and Coyote substation in Utah. In addition, we supplied a larger number of transformers under two contracts with Dominion Energy, headquartered in Virginia,” he continues.
Therefore, despite current developments related to tariffs, the US market remains highly promising and strategically important for KONČAR.
As a result, the company is actively exploring further strategic partnerships and the potential for a local presence.
JACK-OF-ALL-TRADES
Hydropower is a niche in which KONČAR holds a level of experience, expertise, and references matched by very few companies worldwide, as one of the areas where the Croatian company is highly recognized and respected on the global stage.
Recently, KONČAR added two major strategic projects to its extensive portfolio – the €65 million revitalization of the Haditha HPP in
Iraq and the €80 million revitalization of the Vidraru HPP in Romania.
These complex and high-value projects not only mark new milestones in the hydropower segment but also reflect KONČAR’s strong global competitiveness, having been awarded them through international tenders.
The company is also recognized in the field of renewable energy for its own wind power plant, Pometeno Brdo – Croatia’s first wind farm with a capacity of 20 megawatts (MW), built 16 years ago, which generates approximately 25 million kilowatt hours (kWh) of electricity annually.
KONČAR has also built a strong track record in solar energy. In recent years, it has constructed around 10 large-scale solar power plants across Croatia for various partners
and recently signed contracts for the construction of two new solar power plants in Slovenia.
These facilities will be located near the Brežice HPP, a project in which KONČAR played a vital role.
The plant features a nominal capacity of 45 MW and a flow rate of 500 cubic meters per second, with the company having delivered three generators with a maximum continuous output of 21.5 MVA, along with excitation and monitoring systems.
In addition, KONČAR has installed integrated photovoltaic systems at nearly all its manufacturing facilities, significantly reducing the company’s carbon footprint, contributing to the decarbonization of industry, improving energy efficiency, and –most importantly – leading the green industrial transition by example.
LEADING IN POWER TRANSMISSION AND DISTRIBUTION
Power transmission and distribution is a field in which KONČAR has long demonstrated its expertise, consistently reinforcing its reputation on the global stage – particularly within the EU.
While all business segments of the company have shown growth in recent years, this segment leads the way, driven by historically high market demand.
Transformers represent the most powerful export lever within KONČAR’s production portfolio.
As some of the most sought-after products in today’s power industry, they have played a key role in its overall achievements.
KONČAR has also made notable
development strides in the transformer segment, among them the delivery of transformers featuring bluemint® Steel, a high-quality transformer core material produced with 50 percent lower carbon dioxide emissions compared to conventional manufacturing processes.
Additionally, KONČAR has developed a dedicated GREEN LINE of instrument transformers, which are shipped to customers worldwide.
The share of transformers made with environmentally friendly materials continues to grow, with the largest volumes currently delivered to Germany, Sweden, Denmark, the UK, US, and Australia – further underscoring the company’s global competitiveness.
In addition to KONČAR –Distribution and Special Transformers, KONČAR – Instrument Transformers and KONČAR – Power Transformers have also delivered outstanding results.
Elsewhere, compared to the previous year, KONČAR achieved double-digit growth in product sales revenue, with a significant portion of that generated in the US market, further confirming its strategic importance and global reach.
A key strategic milestone for KONČAR was the acquisition of Dalekovod, which created strong synergies between two experienced and capable companies actively engaged in some of the most important energy infrastructure projects across the EU.
One notable example is the construction of a new 420 kV transmission line on the Vik – Sogndal route in Norway, which includes a crossing over one of the country’s largest fjords – just one of many major projects Dalekovod is delivering in the Scandinavian market.
Thanks to its outstanding references, strong presence in demanding European markets, and the growing need for transmission network revitalization, KONČAR –now further strengthened through strategic expansion – is poised to play a prominent role on the global stage in the years ahead.
ADVANCED TRANSFORMER MANUFACTURING
The unprecedented global demand for transformers and related equipment in the power transmission and distribution sector has introduced new challenges for the industry.
One of the key components in transformer production is the transformer tank, for which market demand continues to rise. To effectively respond to this growing need, KONČAR has once again joined forces with Siemens Energy, a global industry leader and long-standing partner.
Their successful collaboration dates back 30 years to the founding of KONČAR – Power Transformers in 1995. This joint venture (JV) between KONČAR and Siemens Energy, in which the former holds a 49 percent stake and the latter 51 percent, is now recognized as one of the world’s leading manufacturers of large power transformers.
In July 2024, KONČAR and Siemens Energy established a new joint venture, KONČAR – Transformer Tanks (KTK), with KONČAR holding a 60 percent majority stake and
Siemens Energy 40 percent.
As part of this initiative, a stateof-the-art transformer tank factory is nearing completion at KONČAR’s site in Sesvetski Kraljevec in Eastern Zagreb.
The facility will employ over 400 people, is scheduled to begin operations in early November 2025, and is projected to manufacture approximately 160 custom-made transformer tanks annually, tailored to meet the specific requirements of global markets and customers.
“It’s important to note that KONČAR has previously manufactured transformer tanks independently. However, the establishment of KTK significantly enhances our capacity and competitiveness in this segment,” Kolak emphasizes.
“Strategic partnerships like the one between KONČAR and Siemens
Energy represent a major step forward in strengthening European industry, advancing technological development, and positioning Croatia on the global energy transition map.
“These collaborations allow us to expand production capacity, exchange knowledge and expertise, share risks, and improve market reach. Beyond boosting resilience and operational efficiency, such partnerships also create new jobs and open opportunities for mutual professional growth, innovation, and long-term business stability,” Kolak comments.
PIONEERING SUSTAINABLE URBAN MOBILITY
In the global race toward carbon neutrality, Croatia is making a meaningful contribution to Europe’s decarbonization efforts – not only
through the integration of renewable energy and digital transformation but also the electrification of public transport and modernization of rail systems with sustainable, green solutions.
At the forefront of developing advanced solutions for domestic urban mobility and infrastructure is KONČAR – Electric Vehicles (KEV), a company that leverages the knowledge and expertise of Croatian engineers.
With a rich tradition of in-house development, its high-tech products and solutions in the field of urban mobility and infrastructure have become synonymous with quality, innovation, and reliability.
A prime example is the latest generation of low-floor trains, widely regarded as Croatia’s most complex technological product. These trains embody the synergy of knowledge, capabilities, and competencies of local experts.
After unveiling its first batterypowered train and accompanying
“STRATEGIC PARTNERSHIPS LIKE THE ONE BETWEEN KONČAR AND SIEMENS ENERGY
REPRESENT A MAJOR STEP FORWARD IN STRENGTHENING EUROPEAN INDUSTRY, ADVANCING TECHNOLOGICAL DEVELOPMENT, AND POSITIONING CROATIA ON THE GLOBAL ENERGY TRANSITION MAP”
– GORDAN KOLAK, PRESIDENT OF THE MANAGEMENT BOARD, KONČAR GROUP
charging station at InnoTrans, the world’s largest transport technology fair held in Berlin in September last year, KONČAR has delivered its most anticipated innovations to Croatian railways this year – battery multiple units (BMUs) and battery electric multiple units (BEMUs), along with supporting infrastructure.
In May 2025, BEMUs – powered by a 100 percent electric drive and supplied with energy from both onboard batteries and the overhead
contact line – entered service.
Given a significant portion of Croatia’s railway network has still not been electrified, this hybrid technology offers an ideal solution for sustainable, carbon-neutral longdistance passenger transport across the country.
The debut of KONČAR’s BMU on Croatian railways this September marked a significant milestone –positioning it as the only train of its kind in commercial operation globally.
Both train types were developed under the Application of Green Technologies in Railway Passenger Transport project, funded by Croatia’s National Recovery and Resilience Plan 2021-2026.
As part of the project, six charging stations were installed at railway stations in Split, Osijek, Varaždin, Bjelovar, Virovitica, and Pula.
THE BEST OF BATTERY POWER
BEMUs offer 157 seated and 158 standing places and are designed for an average daily range of up to 480 kilometers (km) and 18 hours of operation.
They can be functionally coupled with the latest generation low-floor trains, enabling increased passenger capacity.
On non-electrified tracks, BEMUs reach a maximum speed of 160 km per hour (km/h) using battery power while on electrified tracks, powered via the overhead contact line. The
batteries can be charged either from the contact line or at dedicated charging stations.
On the other hand, BMUs reach a maximum speed of 120 km/h and offer 113 seated and 114 standing places. The optimal range per charge is well over 100 km, with testing showing it can reach distances exceeding 200 km on a single charge.
Like the BEMU, BMUs can be functionally coupled with the latest generation of low-floor trains, allowing for increased passenger capacity.
Both train types are equipped with ramps for wheelchair accessibility and accessible toilets, as well as dedicated bicycle spaces.
The entire passenger area is under video surveillance and features monitors for video content, visual and audio station announcements, and free onboard Wi-Fi for passengers.
“KONČAR’s new battery-powered trains, among the first of their kind globally, are a clear testament to the
SUSTAINABILITY BEYOND THE TREND
A key component of sustainable development for KONČAR is its dedication to community engagement and the well-being of people.
In its Sustainability Development Strategy for the period 2024-26, published early last year, the company placed particular emphasis on employee health and well-being, quality education through collaboration with Croatia’s academic community, gender equality, equal opportunities and dignified work for all employees, skills development, and active contributions to society through humanitarian and socially responsible initiatives.
Traditional volunteering activities also play a significant role in KONČAR’s environmental and community efforts. Each year, employees participate in reforestation campaigns across various locations in the country, leaving behind a healthier environment and a legacy of care for nature and future generations.
KONČAR is especially proud of its partnership with the Croatian Paralympic Committee, which reinforces the company’s commitment to diversity and inclusion while raising awareness of the challenges faced by people with disabilities.
One of the key goals of this collaboration is to foster a broader social and corporate culture defined by understanding, empathy, fairness, and equal opportunities.
fact we are not only keeping pace with much larger players but also leveraging our specialized expertise in highly focused technological niches, gaining a competitive edge. This positions us firmly among Europe’s most relevant high-tech manufacturers,” highlights Kolak.
“These two examples of our latest technological achievements –developed together with supporting infrastructure for our long-standing partner, Croatian Railways –demonstrate that we are successfully responding to the global demands of the green transition, both industrially and infrastructurally.
“Moreover, we possess all the prerequisites for a stronger presence in the European market, offering solutions for high-quality and long-term sustainable urban mobility,” he expands.
SETTING GLOBAL STANDARDS IN CYBERSECURITY
While this is the fastest era of technological advancement and digital transformation in human history, it is also one of the most turbulent periods in terms of global instability, threats, and uncertainty.
From energy crises and supply chain disruptions caused by armed conflicts to macroeconomic volatility driven by shifting geopolitical dynamics, many of today’s industrial breakthroughs have emerged as direct responses to these global challenges.
Smart cities, automated industries, and advanced urban infrastructure are becoming essential, with data networks and digital systems increasingly integrated into critical infrastructure.
As a result, cybersecurity is no longer just a technological trend – it’s now a strategic imperative for all industry stakeholders.
Croatia can proudly point to KONČAR as a globally competitive representative and regional leader in technological development within this domain.
Backed by a team of top-tier experts, specialized knowledge, and a growing portfolio of references, the company is becoming increasingly recognized in this field.
Through strategic acquisitions in engineering, particularly digital solutions, KONČAR has strengthened its competencies and expanded access to new markets – positioning itself as one of the most serious IT players in the region.
Cybersecurity is one of the core specialties of KONČAR – Digital, which became the first company in the world to receive certification for cybersecurity compliance under the International Electrotechnical Commission (IEC) 62351 international standard in 2023.
This important certification was awarded by the renowned German certification body TÜV NORD, representing one of the highest recognitions of excellence and alignment with the latest global cybersecurity standards for managing critical infrastructure systems.
The first digital solution in the world to receive this certification, and one of the most representative digital products of Croatian industry, KONČAR’s PROZA Station is designed for the cybersecurity management of transformer substations and other critical infrastructure systems.
So, what exactly is PROZA Station? It is KONČAR’s next-generation supervisory control and data acquisition (SCADA) software, a field in which the company has been recognized for many years.
Indeed, PROZA Station is a flagship example of KONČAR’s capabilities, built from over 40 years of experience in developing industrial software used for monitoring, controlling, and optimizing infrastructure in sectors such as power engineering, e-mobility, data centers, transportation, water supply, and other transmission, distribution, and urban infrastructure systems.
The solution can be integrated with communication and protectioncontrol devices from various manufacturers and is based on the modern PROZA HAT software platform, which supports the development of SCADA systems for real-time monitoring and control of critical infrastructure while also enabling rapid customization and the creation of entirely new solutions.
A key feature of this advanced system is its ability to operate in a private cloud environment using Docker containers, which enhance efficiency in data center deployment and maintenance and introduce additional digital redundancy to improve the resilience of critical infrastructure systems.
PROZA Station is currently in pilot for commercial use at several transformer substations in Croatia and abroad, and KONČAR plans to launch several new digital solutions based on the PROZA HAT platform – particularly in the areas of solar power plant monitoring and control, transport infrastructure, and advanced asset management for energy systems.
HOME-GROWN TALENT, WORLD-CLASS EXPERTISE
KONČAR’s globally established reputation is built primarily on technological products and solutions that stand out for two key reasons.
First, they are developed and manufactured according to a custommade approach, tailored to meet even the most complex requirements of clients worldwide – including some of the largest power systems.
Second, and most importantly, every KONČAR product and solution is created by Croatian experts, many of whom began developing their skills within the company as early as their academic years.
With nearly 6,000 employees, KONČAR is not only one of the largest employers in the country but also one of the most desirable.
A significant portion of the workforce consists of highly educated professionals – such as electrical and mechanical engineers – including more than 50 PhDs, a competitive advantage the company is proud of.
For over six decades, KONČAR has fostered a tradition of academic excellence and close collaboration with the Croatian education system.
“WE ARE PROUD TO SAY KONČAR STANDS SHOULDER TO SHOULDER WITH BOTH DOMESTIC AND INTERNATIONAL COMPETITORS WHEN IT COMES TO THE ENGINEERING AND TECHNOLOGICAL COMPETENCIES OF OUR EMPLOYEES AND THE ACCUMULATED EXPERTISE WITHIN THE COMPANY”
– GORDAN KOLAK, PRESIDENT OF THE MANAGEMENT BOARD, KONČAR GROUP
Many employees actively contribute to higher education as lecturers, course co-organizers, and lab instructors at the nation’s leading universities.
This scientific and professional cooperation allows many promising students to engage with the company during their studies and gain hands-on experience through internships at KONČAR businesses.
A large number of these students eventually join the company, taking their first professional steps in the offices, laboratories, and production facilities of one of Croatia’s most prominent industrial manufacturers.
“We are proud to say KONČAR stands shoulder to shoulder with both domestic and international competitors when it comes to the engineering and technological
competencies of our employees and the accumulated expertise within the company,” Kolak glees.
“This is clearly reflected in the final products we deliver to markets worldwide – products that are highly complex and technologically demanding. Designing and manufacturing a train, tram, transformer, or custombuilt generator tailored to specific customer requirements, while remaining cost-competitive, is an exceptional achievement. Ultimately, this speaks volumes about the high level of rare and specialized technological knowledge held by the people at KONČAR,” he adds.
Systematic investment in the personal and professional development of employees has been at the core of the company’s capital investments over the past five years, and KONČAR remains committed to this mission in the years ahead.
“Supporting the growth of our
people and providing competitive working conditions to enhance employee satisfaction will be one of our top priorities in 2025 and beyond. With a strong order book and a strategic framework focused on fostering a culture of excellence, we expect continued growth across all business segments and an even stronger market presence – not only as a competitive technology manufacturer but also as one of the most attractive employers in Croatia,” Kolak closes.
PEOPLE, INNOVATION, INVESTMENT
KONČAR is entering a new era of fully equipped power engineering products thanks to timely and strategic investments in both capacity and competencies. These efforts have positioned the company as a leader in emerging technological trends.
Indeed, over the past several years, KONČAR has made significant investments in expanding its production and research capabilities, accelerating digital transformation, and supporting the continuous development of its people.
With the launch of its new business strategy – ‘People, Technologies, Investments – KONČAR 2030’ – the company is intensifying its transformation, aiming to strengthen its global presence through a modern, digitalized portfolio of products, solutions, and services across the energy, transport, and industrial sectors.
Looking ahead, KONČAR plans to continue with extensive capital investments, focusing not only on new technologies and innovation but also on R&D, modernization of production facilities, and most importantly – people.
The strategy places a strong emphasis on attracting and retaining talent while enhancing market competitiveness through the development of internal resources.
Building on strong contractual
commitments, an increasingly prominent global position, and clear market trends, KONČAR has set highly ambitious goals for the period leading up to 2030.
In this time, the company aims to increase the share of total revenue of services to 15 percent, achieve 85 percent of its revenue through exports, establish three regional hubs globally, and become the first choice in the power industry across Central and Eastern Europe.
Aligned with a culture rooted in excellence and continuous technological advancement, KONČAR also plans to digitalize 80 percent of its product portfolio and further strengthen its position as the most desirable employer in Croatia’s energy transition.
In pursuit of a net zero scenario, the company is also committed to reducing Scope 1 and 2 emissions by 45 percent and developing over 500 MW of its own renewable energy sources by the end of the target period.
KONČAR is thinking broadly, globally, and ahead of the current energy industry. With extensive experience and key transformation processes already underway, the company continues to lead the regional landscape into a new era of power and energy.
SECURING THE SKIES
Robert Powell, Vice President of Global Production Operations at Lockheed Martin Aeronautics, outlines the company’s latest fighter jet developments –particularly the F-35 Lightning II program – alongside its mission-driven digital transformation and operational improvements as high-performing defense products become increasingly crucial in today’s geopolitical landscape
Writer: Ed Budds | Project Manager: Michael Sommerfield
At a time when the US and its allies require highly capable yet affordable defense products more than ever, Lockheed Martin Aeronautics’ work has become increasingly critical as it continues to develop, manufacture, and deliver world-class aerospace technologies.
“We find ourselves facing technological advancements which are happening faster than ever,” opens Robert Powell, Vice President of Global Production Operations.
As a company that actively leverages artificial intelligence (AI) integration, model-based engineering, and advanced production technologies,
it is well placed to meet the growing demand for superior defense capabilities such as those found in its F-35, F-22 Raptor, and F-16 Fighting Falcon fighter jets, as well as its C-130J Super Hercules airlifters.
In addition to the work it is doing in the US to produce F-35s, F-16s, and C-130s, Lockheed Martin Aeronautics is also seeing increased opportunities to work with allies at its co-production facilities.
In June this year, for example, the company supported the opening of an F-35 forward fuselage facility in Finland with the country’s defense, security, and aviation company, Patria.
In July, meanwhile, Rheinmetall –Germany’s largest arms manufacturer – began F-35 center fuselage co-production at its new facility in Weeze.
“Our programs – particularly the F-35 platform – are global enterprises that not only promote national security for the US and its allies but also provide significant economic benefits through job creation, innovation, and growth in the aerospace sector,” he notes.
THE PATH TO LEADERSHIP
Having joined Lockheed Martin as an F-16 mechanic on its production floor in Fort Worth, Texas, Powell developed a first-hand understanding of the company’s commitment to employee development.
“My start as a mechanic gave me great insight into the work itself and also into union engagements. The floor mechanics and I still have a great
working relationship because I’ve done the work they are doing,” he says.
As such, Powell was able to utilize his skills and knowledge as a mechanic to better represent the touch labor workforce through leadership.
Nominated to join a six-month Supervisor Assessment and Development Program just a year after starting at the company, Powell’s first leadership role was as a supervisor for F-16 production.
“The program’s name describes exactly what it does – equip production floor employees with the tools and knowledge needed to grow into supervisory and leadership roles,” he adds.
During his early years with Lockheed Martin Aeronautics, Powell also completed a bachelor’s degree in business management – graduating with honors – while working full-time
in a high-pressure environment and balancing a family.
Over the years, he has completed many internal and external leadership development programs, including the Senior Leadership Development Program at Carnegie Mellon University and a Lockheed Martin Executive Assessment and Development Program.
“My production floor experience, coupled with my degree and the leadership development programs I completed, gave me the opportunity to work in positions of increasing responsibility across Aeronautics Operations and the F-35, F-22, and F-16 platforms, spanning all phases of our products’ lifecycles,” Powell shares.
In this way, he has led many transformative efforts for Lockheed Martin Aeronautics such as the transformation of its Fort Worth facility from F-16 to F-35 production
and the establishment of 15 major production sites around the world.
These include the introduction of brand-new F-16 production facilities in Greece, Israel, Poland, and India, and the start-up of production systems for the F-35 in Italy, Israel, Japan, and Finland.
UNMATCHED STEALTH
Combining stealth, speed, advanced sensors, and unmatched connectivity all in one platform, the F-35 stands in a class of its own as the world’s most lethal, survivable, and connected fighter aircraft.
Its aligned edges, reduced engine signature, internal carriage of weapons and fuel, and embedded sensors all contribute to its uniquely low observable stealth performance.
“With stealth designed in from day one, the F-35 has an unmatched ability to enter contested airspace and evade enemy detection,” Powell outlines.
“WE ARE COMMITTED TO DELIVERING AIR SUPERIORITY THAT ENABLES FULLSPECTRUM DOMINANCE, SUPPORTS NATIONAL DEFENSE PRIORITIES, AND ENSURES THE SAFETY OF OUR ALLIES AND PARTNERS ACROSS THE GLOBE”
– ROBERT POWELL, VICE PRESIDENT OF GLOBAL PRODUCTION OPERATIONS, LOCKHEED MARTIN AERONAUTICS
The F-35 also has the most advanced sensor suite of any fighter in history which includes the Active Electronically Scanned Array (AESA) radar, Distributed Aperture System (DAS), and Electro-Optical Targeting System (EOTS).
The F-35’s advanced sensor fusion enables pilots to draw information from on-board sensors to create a single integrated picture of the battlefield that greatly enhances awareness and survivability. Advanced electronic warfare
capabilities, meanwhile, allow the aircraft to locate and track enemy forces, jam radars, and disrupt attacks, while one of the world’s most powerful fighter engines – the Pratt & Whitney F135 – enables it to travel at a top speed of Mach 1.6.
Going forward, all variants of the F-35 will have the potential to carry Joint Air-to-Surface Standoff Missiles (JASSM) or Long-Range Anti-Ship Missiles (LRASM) – both produced by Lockheed Martin Missiles and Fire Control – providing increased reach,
lethality, and survivability against heavily protected strategic targets and increasing the ability to deter near-peer adversaries.
“The F-35 serves as an information and communications gateway, sharing its operational picture with ground, sea, and air assets,” he comments.
Highly advanced helmet technology projects information such as airspeed, heading, altitude, targeting information, and warnings within the helmet’s visor – as opposed to the traditional heads-up display –greatly reducing the pilot’s workload and increasing responsiveness.
“Simply put, the F-35’s capabilities enable the pilot to enter an airspace and complete his or her mission before the enemy even knows it’s coming, enabling the aircraft to maintain air dominance today,” Powell says.
TECHNOLOGY REFRESH 3
Technology Refresh 3 (TR-3) is a recent software upgrade that ensures the F-35 continues to be the most effective deterrent and cornerstone of joint all-domain operations.
TR-3 introduces open mission systems architecture and brings greater computing power that enables Block 4 capabilities, including increased missile-carriage capacity, advanced electronic warfare capabilities, and target recognition.
Lockheed Martin’s customers have reported that the software makes a marked difference in the capabilities of the warfighter.
AHEAD OF THE CURVE
Currently transforming end-to-end business processes and systems across the company, Lockheed Martin seeks to deliver speed and agility for its customers, enabling them to stay ahead of the rapidly evolving threat environment.
Through its mission-driven transformation program, Lockheed Martin’s OneLM Transformation (1LMX), the company is creating a model-based enterprise with a fully integrated digital thread throughout the entire product lifecycle – from design and build through to sustaining the product.
“We are using digital twin technology to create a dynamic virtual replica of physical systems, reducing costs by lowering our reliance on physical prototypes while
increasing speed to delivery – both of which are important to our company and “customers,” Powell states.
Lockheed Martin’s digital transformation capabilities include model-based digital engineering which optimizes and links design, manufacturing, and sustainment teams on a common digital thread to save costs and speed up program lifecycles.
A company-wide software factory, meanwhile, is utilizing Development, Security, and Operations (DevSecOps) approaches and enabling the fast development and continuous deployment of software to advance customers’ missions.
“Company-wide investments in process reinvention, business system modernization, 5G networking, cybersecurity, and cloud-based
technologies are laying the foundation for transformational capabilities,” he comments.
“We’re building global infrastructure that will enable us to share data instantly and securely, and AI-powered predictive analytics to glean insights that advance performance from factory to field.”
Lockheed Martin is also revolutionizing factories with smart tools, connected machines, networked supply chains, and augmented and virtual reality (AR/ VR) for technicians that speed up production and improve quality.
LEADING WITH EXCELLENCE
Powell’s current role includes developing Lockheed Martin’s functional strategies to support all Aeronautics lines of business.
“BY
SURROUNDING YOURSELF WITH TALENTED, TRUSTWORTHY PEOPLE AND GIVING THEM THE AUTONOMY TO DO MEANINGFUL WORK, YOU CREATE AN ENVIRONMENT WHERE INNOVATION, OWNERSHIP, AND RESULTS THRIVE. NEVER STOP CARING ABOUT PEOPLE”
– ROBERT POWELL, VICE PRESIDENT OF GLOBAL PRODUCTION OPERATIONS, LOCKHEED MARTIN AERONAUTICS
His organization includes production engineering; production control; fabrication and tooling; industrial engineering; shop floor training; environment, health, and safety; facilities; and all international production operations.
“My organization of about 6,500 employees works to design and implement efficient production processes, while also creating or sourcing the necessary tools and equipment to bring those designs to life,” Powell says.
His team also optimizes workflows by analyzing and improving processes to increase productivity and reduce waste while ensuring the highest
quality products and on-time delivery.
“It’s a challenging but rewarding role, and one that sees my team integrate across every program, throughout all parts of the business and the globe,” he adds.
To continue leading with excellence, Powell is guided by Lockheed Martin’s core values – to ‘do what’s right’, ‘respect others’, and ‘perform with excellence’ – simple but powerful principles that shape employees’ behavior and guide decision-making.
“I am so proud of our employees, who I see practice these values every day,” Powell says.
“The people who work at Lockheed
Martin are uncompromising in the integrity of their work and always keep the mission in mind.”
‘Do what’s right’ represents the company’s commitment to the highest standards of ethical conduct in everything it does, with employees unafraid to raise their hands and speak up when they see something that doesn’t look right.
Recognizing that success depends on the talent, skills, and expertise of its people, ‘respect others’ has become a cornerstone of the company’s ability to collaborate across functions, programs, roles, leadership levels, and beyond.
HAVING GROWN YOUR EMPLOYEE DEVELOPMENT PROGRAMS SIGNIFICANTLY OVER THE YEARS, HOW DO YOU HOPE TO SEE THEM EVOLVE FURTHER IN THE FUTURE?
Robert Powell, Vice President of Global Production Operations: “I’m proud of the work I’ve done over the past 39 years, and proud of the company for continuing to invest in leadership programs to develop those who will follow in my footsteps.
“Our employee development programs have grown significantly and now include rotational career pathways for almost all major functions – including operations, engineering, finance, and HR, among others – and are open to recent college graduates, mid-level professionals, and executives.
“My Workforce Integration and Training team is continually looking for opportunities to partner with technology and trade schools to grow and develop the talent pipeline.
“In the meantime, we want to continue hosting leadership and rotational programs like the Operations Leadership Development Program (OLDP) and Engineering Leadership Development Program (ELDP).
“We’ve seen incredible success with
programs such as these, with many participants advancing to high levels of leadership across the company. Case in point, my leader, Nick Drazic – Vice President of Aeronautics Operations – completed OLDP and other internal leadership programs.
“We also constantly evaluate the programs’ curriculum and criteria.
One recent change we’ve made to the OLDP curriculum, for example, is the requirement for a supervisor role during the rotational stage, giving our early-career employees first-line leader experience. Completing a supervisor rotation role provides a solid foundation for future leadership opportunities.
“This has been a cornerstone of the program’s success and the business as a whole.”
‘Perform with excellence’, meanwhile, acknowledges the importance and impact of Lockheed Martin’s work.
“Ultimately, it emphasizes how the security of our nation and that of our allies depends on the quality and capability of the products and services we provide,” he adds.
A BRIGHT FUTURE
Lockheed Martin is pursuing the answers to its customers’ most pressing questions.
For example, it currently has a corporate-wide focus on ascertaining the solutions it can provide for the Golden Dome initiative.
“Earlier this year, President Donald Trump called for a new approach to homeland defense. Lockheed Martin answered the call as the nation’s leader in integrated air and missile defense who can build the most capable team to make the Golden Dome concept a reality,” Powell explains.
A layered defense shield, the Golden Dome initiative will include a system that detects, tracks, and intercepts incoming missiles before they reach US soil.
As the industry leader in defense with combat-proven layered defense solutions already in place, Lockheed Martin is uniquely suited to deliver on the criteria for Golden Dome.
“While we explore future needs, my most immediate role is ensuring our current programs deliver capabilities with unmatched quality to best serve those who serve,” he maintains.
Looking ahead, Powell reflects on his 39-year long career in leadership, his belief that people are always the most valuable resource, and how success is built on the strength of a team.
“By surrounding yourself with talented, trustworthy people and
giving them the autonomy to do meaningful work, you create an environment where innovation, ownership, and results thrive. Never stop caring about people,” Powell advises.
The company’s ongoing goal for the future, meanwhile, is to continue to deliver for the customers who rely on its products – whatever their mission.
With a focus on connected, multi-domain operations, Lockheed Martin’s solutions empower military forces to maintain control of the air, outpace emerging threats, and achieve a decisive advantage in any mission.
“We are committed to delivering air superiority that enables fullspectrum dominance, supports national defense priorities, and ensures the safety of our allies and partners across the globe,” Powell confidently concludes.
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MAKING LIFE SWEETER
Neil Juhnke, President and CEO of Michigan Sugar Company, outlines the grower-owned cooperative’s latest developments and new facilities, alongside the company’s ongoing commitment to sustainability which sees it in constant pursuit of strategies to grow better crops with less input
Writer: Lily Sawyer | Project Manager: Marc Lewis
With the application of technology advancing rapidly over the last 20 years, both in the field and agronomically, North America’s agricultural landscape has significantly evolved.
Historically, it has witnessed a steady growth of value-added agricultural processing, with the sugar beet industry being the oldest
Photo: A sugar beet field in Michigan
enduring example, dating back to the early 1800s when Napoleon commissioned French scientists to develop the root vegetable at scale.
Today, genetically modified organism (GMO) technology continues to transform the sector.
“When I began my career in the sugar industry in 1990, an 18-tonper-acre (tpa) crop with 16 percent sugar was considered a good yield.
Now, we’re growing between 34 and 35 tpa – nearly double – with sugar content close to 18 percent,” opens Neil Juhnke, President and CEO of Michigan Sugar Company (Michigan Sugar).
As such, in recent years, Michigan Sugar has been able to reduce its planted acres from 160,000 to 140,000 while still being able to produce more sugar.
However, the sugar beet industry has not been without its challenges, with the recent COVID-19 pandemic necessitating workforce revitalization and restructuring.
Mother nature, meanwhile, has presented its own challenges, with cercospora leafspot a recurring disease damaging crops and developing tolerance to the different fungicides used to control it.
“Nature finds a way to challenge us in the agronomic production of sugar beets,” Juhnke says.
As the third-largest sugar beet cooperative in the country and the most vertically integrated, Michigan Sugar plants, grows, harvests,
“SAFETY IS PARAMOUNT, AND WE’VE INVESTED IN DEVELOPING KEY SAFETY PROCEDURES SUCH AS NEW TRAINING AND SAFETY AWARENESS POLICIES”
– NEIL JUHNKE, PRESIDENT AND CEO, MICHIGAN SUGAR COMPANY
processes, stores, and packages sugar in value-added configurations.
“More than 50 percent of our sugar is supplied to customers in some value-added form, and we are proud to count eight out of the nine major US retailers among our customers,” he adds.
A SUSTAINABLE SUPPLIER
As it focuses on increasing its sugar production in the most sustainable manner, Michigan Sugar has invested heavily in maximizing the efficiency of its separation processes.
A new molasses desugarization (MDS) plant, which opened its doors in May 2024, has significantly contributed to this goal with the ability to produce more than 80 million additional pounds (lbs) of sugar yearly for the company.
Molasses desugaring is accomplished through chromatographic separation, a resin-based process in which molasses – a by-product of the sugar extraction process from sugar beets – is passed through a bed of tiny resin beads to extract additional sugar from the molasses.
Sugar beets piled high at Michigan Sugar
“This state-of-the-art facility, the largest capital investment in Michigan Sugar’s near 120-year history, is a complete game-changer for us,” Juhnke explains.
“We can now desugar 100 percent of the molasses we produce as a by-product of the sugar extraction process, as opposed to 60 percent previously. We have doubled our production capacity from 325 tons (t) of molasses per day to 650.”
Built over four years with more than 160,000 safe working hours, the MDS facility is a success story in sustainability because it allows the company to produce additional sugar without the need for its growerowners to plant another acre of sugar beets.
ABOUT MICHIGAN SUGAR
Michigan Sugar was founded in 1906 when six smaller sugar companies merged their operations.
In 2002, Michigan Sugar became a grower-owned cooperative, before merging with Monitor Sugar in 2004 to form the company that exists today.
Michigan Sugar is headquartered from its corporate office in Bay City, Michigan, and has sugar beet processing facilities across the state in Bay City, Caro, Croswell, and Sebewaing.
Its 865 grower-owners plant and harvest about 140,000 acres of sugar beets each year across MI, as well as operating in Ontario, Canada.
The beets are sliced at the factories and turned into about 1.3 billion lbs of sugar annually, which is sold to industrial, commercial, and retail customers under the company’s Pioneer brand.
With 1,000 year-round employees and an additional 1,100 seasonal workers, Michigan Sugar’s annual payroll is more than $90 million and its annual direct economic impact is upwards of $700 million.
The company is the third-largest of seven sugar beet processing companies in the US, and Michigan is one of 11 states where sugar beets are grown.
Sugar beets are a root crop planted in spring and harvested in fall
“That means no additional input costs and no additional impact to the soil in our farmers’ fields,” Juhnke says.
PROGRESSIVE SUGAR COOPERATIVE
Counting many of the most progressive growers in Michigan among its farmers, Michigan Sugar is constantly evaluating how to grow better crops with less inputs.
A new quality payment system, for example, rewards growers for producing beets with higher sugar content and better overall quality, as opposed to simply growing larger beets.
“This system is intended to align our processing asset priorities with the agronomic production priorities of our farmers,” Juhnke outlines.
As a result, the company
incentivizes its growers to produce more recoverable white sugar per t – the analytical measure of how much sucrose per t is recoverable in the factory.
“It’s a method to encourage the production of beets with higher recoverable sugar content – which requires lower tonnage – so our processing costs go down and sugar recovery goes up, aligning with our agronomic priorities,” he emphasizes.
In this way, Michigan Sugar emerges as a progressive sugar cooperative that not only encourages its farmers to maintain the local environment but financially incentivizes them to do so.
Michigan Sugar produces white granulated, brown, and powdered sugar under the Pioneer brand
Harvesting sugar beets
“MORE THAN 50 PERCENT OF OUR SUGAR IS SUPPLIED TO CUSTOMERS IN SOME VALUE-ADDED FORM, AND WE ARE PROUD TO COUNT EIGHT OUT OF THE NINE MAJOR US RETAILERS AMONG OUR CUSTOMERS”
– NEIL JUHNKE, PRESIDENT AND CEO, MICHIGAN SUGAR COMPANY
“Having been approved by the Board of Directors in 2024, the quality payment formula has so far been well received by all and has contributed to us achieving the highest sugar content on record this year in our entire history
as a cooperative,” Juhnke says.
Elsewhere, the company utilizes GMO sugar beet seeds to increase its yields and reduce the number of herbicides applied to crops.
In addition, it is investing in green
power generation strategies in a bid to adopt more sustainable electricity in at least two of its plants.
“We’re undertaking preliminary studies to assess the feasibility of cogeneration – whether we’d be able to generate enough electricity to serve the needs of the communities close to where our plants are co-located,” he tells us.
Michigan Sugar is currently investigating the possibility of generating six megawatts (MW) of electricity for its own use, and another 6 MW to power the local area – all through natural gas.
“That will be a huge reduction in generated electricity and another step forward in terms of our corporate social responsibility (CSR) and sustainability contributions,” Juhnke notes.
Michigan Sugar’s plant in Caro, Michigan was opened in 1899 and is the oldest sugar beet processing facility in the US
MDS PLANT – AT A GLANCE
• Ground broken – June 2022
• Start-up – May 2024
• Safe working hours to build plant – 160,000+
• Cost of project – $109 million, the largest capital investment in Michigan Sugar’s history
• Total size – 22,000 square feet (ft)
• Construction materials – Block, concrete, steel, and wood
• Concrete – 4,866 cubic yards
• Structural steel – 766 t
• Piping – 10.4 miles (mi)
• Cable tray – 3,400 ft
• Cable wire – 18 mi
• Instruments – 760
• Valves – 2,475
• Motors – 109
• Pumps – 93
• Fiber for network – 3,000 ft
SUPPORTING EX-MILITARY PERSONNEL
As a company honored to count many military veterans among its ranks, Michigan Sugar supports ex-military personnel through employment.
When the company re-evaluated its workforce after the COVID-19 pandemic, it conducted a survey to ascertain which employees were most fulfilled and motivated by their work.
Those that fit this profile tended to be from a military background, so the company began to develop a military recruitment program.
“We’re partnered with RecruitMilitary, an organization that helps us connect to folks retiring from the armed forces,” Juhnke says.
Having now taken part in several recruiting events at military bases across the country and with an upcoming event scheduled at the Citadel Military College in South Carolina, Michigan Sugar has
established a tangible partnership with military veterans.
The company is also proud to participate in the Department of Defense (DoD) SkillBridge program, which allows active-duty service members to gain professional experience through internships, apprenticeships, or training.
“These activities have resulted in us hiring a number of ex-military personnel as shift supervisors and business leaders,” he reflects.
As a company that recognizes the leadership skills of employees with military backgrounds, it utilizes the DoD SkillBridge program to enable them to understand the industry while gaining technical expertise.
“Having hired a handful of military folks, I can safely say they’re all doing very well,” Juhnke affirms.
In addition, Michigan Sugar’s Veteran of the Month program rewards those who demonstrate
commendable achievements, and it celebrates veterans on social media who have helped to build the company.
REBUILDING FOUNDATIONS
Michigan Sugar’s three-year strategy to rebuild foundations for future success, led by Juhnke, focuses on improving company performance through investments in people and technology.
“We felt like we were a good company, but needed to be a great company,” he says.
In collaboration with the company’s Board of Directors, Juhnke used Jim Collins’ best-selling book, ‘Good to Great’, as a foundational framework upon which to build.
The strategy focuses on improving operational capabilities, accountability, accuracy, and data utilization in decision making, alongside shoring up the workforce, training, and finances.
“We’re through the toughest two years of that three-year strategy, and this year we’re focusing on the finer details of our performance,” Juhnke shares.
As such, extracting and removing waste from the system, improving operational reliability, and enhancing safety are among the company’s top priorities.
“Safety is paramount, and we’ve invested in developing key safety
procedures such as new training and safety awareness policies,” he details.
With plans to sit down with its Board of Directors again in February 2026, Michigan Sugar is looking forward to what the future holds.
As a grower-owned cooperative with 865 shareholders and 350 farm operations, the company is proud to generate more than $700 million in annual revenue – the majority of which is reinvested into the local community.
“We’re very proud to be a worldclass, grower-owned cooperative,” Juhnke passionately concludes.
Thermo Design Engineering offers the equipment, services, and expertise to create industry-leading energy processing facilities around the world. We learn how the company implements innovative technology with Vice President of Business Development, Nick Hanson, who calls upon the Canadian energy industry to come together
Writer: Jack Salter | Project Manager: Scarlett Burke
INTEGRATED ENERGY
The world needs Canadian energy, and there’s no place better suited to support from a sustainability and responsible development and production perspective.”
Nick Hanson, Vice President of Business Development at Thermo Design Engineering (TDE), firmly believes that Canadians should band together and support the development of the country’s natural advantage.
Indeed, Canada is the world’s fourth-largest oil producer and fifthlargest gas producer, with Alberta – where TDE is based – being the greatest contributor.
“I grew up in Alberta, and oil and gas has always been the cornerstone industry in the province,” Hanson tells us.
However, it’s a case of what could have been as the sector has had to address various challenges and roadblocks – until now.
“We’re starting to look at things from a more pragmatic perspective, so hopefully we’re at a point of change. We can compete with one another and work against each other, or we can all come together and uplift the industry,” he affirms.
“If it’s for the good of what we’re trying to do, it’s for the good of all of us, and part of that is a perspective shift to really help the sector in Canada grow.”
ONE-SOLUTION APPROACH
TDE was established in 1979 in the provincial capital of Edmonton as a fabricator, designing and building oil and gas processing equipment around the world.
Today, the company is recognized as a global leader in the design, engineering, manufacturing, installation, and construction of energy facilities and sustainable projects.
“We try to integrate every part of the energy business chain into a cohesive, one-solution approach, where we can work with and for more or less anybody who needs support in the energy space,” outlines Hanson.
“If we identify a need in the market, we try to blend it into something we can deliver as a value-added proposition.”
Thus, TDE is proud to have advanced all aspects of the energy market in Canada and worldwide, including production, manufacturing, and design.
Some TDE staff members have been at the company for more than 40 years – expertise that is reinvested
into training the next generation.
Self-developing its in-house expertise is a big part of what TDE does, whether that’s in its production facilities or design engineering services.
“We use our expertise and personnel to think from the ground up about what a problem really requires, because there’s very few circumstances where it’s a one-sizefits-all solution, and we recognize that in spades,” Hanson explains.
“THE WORLD NEEDS CANADIAN ENERGY, AND THERE’S NO PLACE BETTER SUITED TO SUPPORT FROM A SUSTAINABILITY AND RESPONSIBLE DEVELOPMENT AND PRODUCTION PERSPECTIVE”
– NICK HANSON, VICE PRESIDENT OF BUSINESS DEVELOPMENT, THERMO DESIGN ENGINEERING
Although there’s a lot of things TDE does very well, the company also looks to the market if there’s a challenge it’s not able to solve directly or hasn’t run into in the past.
“If we want to have the best strategy to execute and solve a problem, we need to work with the best people, and we’re not afraid to ask for help to figure it out. I think that’s unique because a lot of companies want to do it themselves and they’re very protectionist and fixed on how or why things are done, but that’s just not us at all,” he acknowledges.
“If there’s a way we can produce a win-win solution that’s responsible, sustainable, and cost-effective, even if it results in us having a relatively smaller piece of the pie, then that’s a positive because we as an industry run into a lot of challenges maintaining the social license for what we do.”
TECH-ENABLED PRODUCTIVITY AND SAFETY
Innovative technology has been implemented by TDE globally, including automated manufacturing systems, which ensure the company’s operations can run 24/7 without any concerns over safety, quality, productivity, or labor shortages.
TDE CORE VALUES
• INTEGRITY – Doing the right things the first time.
• INNOVATION – Embracing new ideas and challenging the status quo.
• COMMITMENT – Standing behind its work and supporting one another fully.
• COURAGE – Facing challenges head-on and acting with conviction.
“We’ve implemented automation in welding, cutting, and robotics to help increase our productivity and improve our safety and quality standards,” Hanson informs us.
“It allows more routine, mundane tasks to be performed quicker and lets our staff focus on the things where they add the most value.”
As an innovator in design, TDE has also come up with several different processes for piecing equipment together.
These processes bring down energy demands within a facility, raise recovery levels, and allow customers to operate their plants with higher productivity and ultimately uplift their bottom line.
“For us, technology can mean
“WE’RE STARTING TO LOOK AT THINGS FROM A MORE PRAGMATIC PERSPECTIVE, SO HOPEFULLY WE’RE AT A POINT OF CHANGE. WE
CAN COMPETE WITH ONE ANOTHER AND WORK AGAINST EACH OTHER, OR WE CAN ALL COME TOGETHER AND UPLIFT THE INDUSTRY”
– NICK HANSON, VICE PRESIDENT OF BUSINESS DEVELOPMENT, THERMO DESIGN ENGINEERING
how we do things, a process, or a physical widget we’ve implemented to improve our productivity,” insights Hanson.
“We bring great ideas from markets we’ve been working in for years and ones that we’re just entering and distil them into a top-notch execution strategy.”
Alongside implementing innovative technology, TDE is focused on enhancing safe operations.
Reach New Heights with Unique
Unique Scaffold is one of Canada’s fastest-growing scaffolding companies. Since 1997, we’ve supported industrial, commercial, and infrastructure work with full access services from planning and engineering through erection, modification, and dismantle. Our teams are built for execution, with the capacity to mobilize quickly and deliver rapid turnarounds when schedules tighten.
Growth has come from doing the basics well. We’ve expanded our industrial footprint and scaled our workforce while keeping the same practical, hands-on approach that clients expect. A strong inventory and reliable transport help us get on site, set up, and keep projects moving. Clear planning and accountable communication mean fewer surprises and more predictable schedules.
Clients choose Unique Scaffold for access that fits the work and the window. Whether it’s maintenance, outages, or capital projects, we plan the build, align with the site’s realities, and execute. As we continue to grow across Canada, our focus stays the same: dependable access, steady coordination with project teams, and strong value from start to finish.
The company boasts an excellent track record thanks to its commitment to creating a working environment where accidents don’t occur and no one is exposed to health and safety hazards.
“Our people have to go home at the end of the day and see their families –that’s non-negotiable. We’re not here to ask someone to risk their health and safety or expose themselves in any way,” Hanson emphasizes.
“Work is work, but you have to be safe doing it. We’ve been industryleading in our reportable incidents for decades and floating near zero for the last four or five years, which we’re proud of.
“It’s not a family business, so to speak, but the business is a family, and we all care about the safety of the person next to us because we work together every day and spend more time with one another than we do with a lot of people in our lives,” he adds.
YEAR-ON-YEAR GROWTH
TDE has experienced significant growth over the course of several years, with each being the company’s subsequent best in existence.
The last couple of years in particular have seen it substantially expand in terms of physical space, manufacturing capabilities, and equipment.
“Our priority is to keep expanding where our reach is; there’s been a lot of projects that wouldn’t have gone ahead until we got involved,” notes Hanson.
“There are some areas where we can come together and bring an opportunity that either transfers risk from a client so they can get their head around the numbers and contracts on their side to make a project work, or we can come up with a real cost saving that improves their returns and make those economics a lot stronger.
“We’ve done that in our traditional space for oil and gas, as well as
TDE SERVICES – AT A GLANCE
• Engineering – Comprehensive engineering services are at the heart of TDE’s operations and often rated the best in the industry.
• Project management – Whether working on a small project or a complex initiative, TDE has thorough experience executing all phases of a project lifecycle.
• Procurement – The company continuously researches and sources the latest technologies and most cost-effective and quality materials that meet client specifications.
• Manufacturing – Known for innovation and quality when it comes to constructing and assembling products, TDE develops customized solutions around the world.
• Modularization – One of the company’s specialties and strengths. As innovators in modular design and manufacturing, it offers significant cost savings over stick-built facilities.
• Logistics – TDE creates modules that fit seamlessly once they arrive on location and sends equipment in the most cost-efficient manner.
• Field services – On hand from conception to completion, TDE coordinates and monitors system solutions, keeping projects on time and schedule.
• TDE Standard Packages – The company has distilled extensive expertise into its TDE Standard Packages, which represent the culmination of over 40 years of design development and operational success.
• Integrated project services – From planning and design to construction, installation, and operation, the company has proven experience in creating total solutions.
C.H. Robinson focuses on safety, on-time delivery, and cost control for your infrastructure builds, facility upgrades, and long-lead equipment deliveries. Bring our unmatched expertise and unrivaled scale for a tailored solution based on your project’s needs–with precision from start to finish.
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evolving spaces such as biofuels and carbon capture,” he shares.
Then there’s the data center wave that TDE has been surfing, with a focus on reducing time to power.
The company has been working on projects where it would take multiple
years to set up rates of power in the hundreds of megawatts or gigawatts through a traditional execution strategy, and developed a unique approach to reduce both the levelized cost of energy and the time to power of these projects.
“We can get power going within one-and-a-half to two years, then it’s a very sequential and expandable buildout strategy, and we’ve had a lot of success and interest in that,” Hanson reveals.
“We’re going to keep doing what we’re doing in oil and gas processing and petrochemical development, supporting that space as we have done for over 45 years,” he concludes.
One of TDE’s big focuses moving forward is not only bringing its expertise further across the globe but also helping to develop the energy system in a responsible way.
Tel: 1(780)440-6064
sales@thermodesign.com www.thermodesign.com
chrobinson.com
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NOT JUST READY
RAM READY
Providing top-tier solutions for the mining, power generating, oil and gas, and bulk material handling industries, RAM Enterprise delivers quality products and services that improve operational efficiency. Laila Miguel, Vice President and CFO, tells us more about her experience in the sector and the company’s outlook toward an expansive future
Mining is changing fast. Automation, artificial intelligence (AI), and sustainability are transforming the landscape. What used to be a bootson-the-ground industry is becoming smarter and safer. It’s exciting to see how innovation is not just improving efficiency but also reshaping how we think about people, safety, and longterm impact.”
RAM Enterprise (RAM), based in Nevada, is embracing this change head-on, exemplified by the determined words of Laila Miguel, Vice President and CFO.
Specifically, the US mining market is seeing renewed momentum, driven by surging demand for critical minerals like copper, silver, and rare earth elements – all essential for electrification, renewable energy infrastructure, and national security. At the same time, domestic policy is shifting to support US-based mining, with faster permitting processes and government-backed investments reducing reliance on imports. Add to that global supply constraints,
and it’s easy to see why US mining is experiencing one of its most active growth phases in decades.
“In many ways, we’re standing right at the intersection of technology and tradition – taking decades of hands-on experience and combining this with smart, data-driven innovation,” insights Miguel.
“For these and other reasons, working in mining right now is
exciting. The trajectory isn’t just upwards, it’s forward, smarter, and more meaningful than ever.”
For Miguel, her journey into mining wasn’t a traditional one. Having started out working in the food and beverage industry, she didn’t consider mining until she became a parent and realized the need for stability and support for her family.
With her father suggesting accounting, she took the leap and went back to school, eventually landing a job at RAM and working her way from accounting clerk to Vice President and CFO.
“Along the way, I was fortunate to have incredible mentors who believed in me, opened doors, and helped me find my confidence in a maledominated industry. Their support gave me not just opportunities, but also a sense of purpose – to prove diverse perspectives make our teams and industry stronger,” asserts Miguel.
“Ultimately, mining found me, and I’ve stayed because I believe in the people and the purpose behind what we do.”
Summer Thomsen, Regional Supply Chain Manager, and her supply chain team
THE INTERSECTION OF TECHNOLOGY AND TRADITION
RAM currently operates out of six locations, from West Texas all the way up to Alaska, and will be celebrating its 35th anniversary in February 2026 – a milestone the company is immensely proud of.
“Over the years, we have expanded beyond the US and have completed works in Mongolia, Brazil, Mauritania, the Dominican Republic, and Mexico, supporting mining operations and industrial clients with the same commitment to safety, quality, and reliability that defines our domestic work,” expands Miguel.
This global experience has helped the company grow and strengthen its understanding of diverse mining environments and challenges.
RAM provides a one-stop shop of specialized industrial services, including conveyor belt splicing, coatings and linings, conveyor maintenance, fixed process equipment maintenance, electrical and fabrication services, and full turnkey industrial construction in surface and underground sectors.
It also manufactures and distributes high-quality rubber products to customers in the bulk material handling industry under its brand, Industry Mining Technology (IMTECH).
“We’ve built strong partnerships with manufacturers who share our values and commitment to excellence. Those relationships allow us to supply premium conveyor components and belt products that complement our field services, giving our customers complete, reliable solutions,” details Miguel.
RAM is especially proud of its safety record, having maintained a below-industry-average experience modification rate(EMR) of 0.62, recorded 3.2 million safe working hours, and recently celebrated seven years with no lost time incidents.
The company achieves this
HOW DOES YOUR ASPIRATION TO BE AN INDUSTRY LEADER IN COMPREHENSIVE SOLUTIONS RELATE TO IMPROVING OPERATIONAL EFFICIENCY AND MINIMIZING DOWNTIME?
LAILA MIGUEL, VICE PRESIDENT AND CFO:
“Being an industry leader isn’t just about market share or growth; it’s about connection. My goal is to bridge the gaps in our industry – between departments, generations, legacy systems, innovation, genders, and levels of experience.
“Mining has such a rich history, but it’s also at a turning point. We’ve got incredible new technologies and data-driven tools coming in. Simultaneously, we have decades of hard-earned experience from people who’ve spent their lives in this industry. I want RAM to be the company that brings those worlds together –where innovation doesn’t replace experience, but builds on it.
“That means fostering collaboration between teams that might not overlap and ensuring everyone has a role in solving problems. Culturally, it means creating space where people feel seen, supported, and respected.
“As a woman in a male-dominated industry, bridging that gap means continuing to open doors and make sure the next generation sees mining as a place where they can build meaningful careers.
“At the end of the day, leadership means building those connections between people, ideas, and generations, so we can all move this industry forward together.”
impressive record by believing in transparency, sharing information that helps avoid issues, and making sure every decision prioritizes safe, effective work. This is part of who RAM is, and something every person in the company takes personally.
“RAM is built on integrity, accountability, and responsiveness. We care deeply about our people, and that shows. Many of our team members have been with us for years – even decades. When you walk into any of our facilities, you can feel the loyalty, pride, and sense of family,” impassions Miguel.
At the heart of it all, RAM exists to provide an opportunity for its employees to live their fullest lives. This purpose drives every decision made – from safety and training to innovation and growth.
“When our people thrive, our customers and company thrive. That’s what has carried us through more than three decades of success – and what will continue to shape our future,” dictates Miguel.
“IN MANY WAYS, WE’RE STANDING RIGHT AT THE INTERSECTION OF TECHNOLOGY AND TRADITION – TAKING DECADES OF HANDS-ON EXPERIENCE AND COMBINING THIS WITH SMART, DATA-DRIVEN INNOVATION”
– LAILA MIGUEL, VICE PRESIDENT AND CFO, RAM ENTERPRISE
GET SMOOTH AND GO FAST
RAM’s 2025 thematic goal, ‘get smooth and go fast’, captures the company’s goals.
“We’ve built a strong foundation, and now it’s about refining how we work so we can move faster, smarter, and with more alignment across every part of the business,” informs Miguel.
‘Get smooth’ is about eliminating friction by simplifying processes, reducing redundancies, and making sure the company’s systems, people, and information flow together seamlessly. The goal is for RAM’s people to spend less time chasing data and more time creating value.
Once bottlenecks are identified, handoffs are streamlined, and communications are strengthened to deliver results faster and with less rework. Then, ‘go fast’ is implemented – meaning things can move quickly, confidently, and collaboratively.
“When we talk about this theme, it’s not just about efficiency or speed – it’s about building a company that operates with clarity, trust, and purpose. We’re creating the systems, structure, and leadership strength to support sustainable, long-term success,” explains Miguel.
The subsequent results of these efforts can be seen in some
of RAM’s most recent projects, including the continued growth of its manufacturing division. The company recently installed a large press that allows it to produce custom molded rubber products up to eight inches thick.
This capability expands what the company can do for its customers, especially in creating heavy-duty, high-performance products that stand up to the toughest mining conditions.
Equally, a patent is pending on the RAM EZ-S-Cape cans for underground mining, which are designed and fabricated in the US and engineered to make underground escapeways safer and more efficient – a great example of how innovation and safety go hand-in-hand.
This is alongside the company’s mine restart projects, engineering, procurement, and construction (EPC) conveyor installation projects, and harnessing automation, AI, and Internet of Things (IoT) technology.
“Whether it’s new manufacturing capabilities, patented safety innovations, or integrating AI and smart systems, everything we’re
WHAT ARE RAM’S PRIORITIES AND GOALS FOR THE COMING YEAR?
LAILA
MIGUEL, VICE PRESIDENT AND CFO: “Our focus is on doubling down on what we do best – our core capabilities – and finding new ways to deliver more value to our employees, clients, and supplier partners. Recently, we’ve seen incredible growth, having expanded geographically, broadened our product and service offerings, and grown our top line since 2020. That momentum isn’t slowing down – it’s evolving.
“We’re at a point where it’s about getting sharper, smoother, and faster in how we operate. We want to maximize efficiency, eliminate friction, and create the best possible client journey and employee experience.
“We’re also focused on strategic growth; expanding in the right markets, with the right partners, and around the right people. We’ll continue to build our EPC capabilities, grow our manufacturing and product innovation, offer our full range of one-stop shop offerings, alongside investing in automation, AI, and smart technologies.
“However, our ambition hasn’t changed – we’re still as hungry as ever. We’re channeling that hunger into excellence, consistency, and long-term value. Growth for us isn’t just about size; it’s about impact and people.
“At the end of the day, RAM exists to provide an opportunity for our employees to live their fullest lives. When our people thrive, our customers thrive.”
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doing is aimed at one goal – helping our customers operate at their best while continuing to push the industry forward,” asserts Miguel.
REPRESENTATION MATTERS
For Miguel, empowering women in the mining industry is something that’s close to her heart.
“When I started out, there weren’t a lot of women in this space and even fewer in leadership roles. I had some incredible mentors who believed in me and opened doors that might’ve otherwise stayed closed. Now, I feel a responsibility to keep those doors open for others,” she details.
RAM works hard to ensure women feel supported, valued, and seen as who they are – leaders, mentors, experts, and innovators. The company has women across the organization in key roles and is intentional about creating pathways for growth.
It’s about creating an environment where everyone, regardless of gender or background, feels empowered to contribute and challenge ideas. That kind of psychological safety is what drives innovation and collaboration.
For the company, representation matters. When women see other women succeeding in technical and leadership roles, it changes what they believe is possible for themselves.
“Ultimately, my goal – and RAM’s goal – is to normalize the presence of women in mining. I don’t want it to be a headline that a woman is in a leadership role; I want it to be the norm. We’re bridging that gap by showing that capability, resilience, and heart have no gender, creating a culture where everyone can thrive,” states Miguel.
Equally, RAM celebrates all of its employees and believes the ideal team player is humble, hungry, and smart. Humble enough to put the team first, hungry enough to go the extra mile, and smart enough to navigate relationships and communicate well.
“RAM IS BUILT ON INTEGRITY, ACCOUNTABILITY, AND RESPONSIVENESS. WE CARE DEEPLY ABOUT OUR PEOPLE, AND THAT SHOWS. MANY OF OUR TEAM MEMBERS HAVE BEEN WITH US FOR YEARS – EVEN DECADES. WHEN YOU WALK INTO ANY OF OUR FACILITIES, YOU CAN FEEL THE LOYALTY, PRIDE, AND SENSE OF FAMILY”
– LAILA MIGUEL, VICE PRESIDENT AND CFO, RAM ENTERPRISE
Empowerment at the company starts with trust and transparency. It gives people the context and clarity to make decisions and take ownership of their work. RAM also celebrates the people who go above and beyond through its Employee of the Month program and Safe People Always Determine Excellence (SPADE)
program, a way to acknowledge employees for exceptional teamwork and effort.
“At the end of the day, our goal is to create an environment where people feel empowered to make a difference, appreciated for what they contribute, and connected to something bigger than themselves. That’s what makes
RAM such a special place to work – everyone here genuinely cares about doing great work and about each other,” Miguel passionately concludes.
Tel: 775-738-3997
info@ram-enterprise.com
www.ram-enterprise.com
www.imtechrubber.com
To round off each issue, we ask our contributing business leaders for their views on the same question
WHAT IS THE BEST PIECE OF ADVICE YOU HAVE RECEIVED?
Tom Tisa
CCO, Patriot Rail
“Throughout my career in the rail industry, I’ve had the opportunity to work with many great leaders including Hunter Harrison, Keith Creel, Jim Foote, Ed Harris, and Jim Vena.
“The one thing they all talked about was doing what you say you’re going to do. This instruction sounds simple, but it resonates with me because honoring your commitments builds credibility and trust in yourself and others. It is the foundation for building and maintaining relationships professionally and personally.”
Charlene Gavel
President and CEO, SaskTel
“I’ve shared this with my team at SaskTel before, but the best piece of advice I’ve ever received is to stay curious and grounded. It’s a mindset that keeps me focused on our mission and the people we serve.”
Robert Powell Vice President of Global Production Operations, Lockheed Martin Aeronautics
“I’ve received a lot of advice over my 39-year career, but I’ll give you a few of my favorites.
“Don’t be afraid to bite off more than you can chew, then chew it. Embrace challenges that feel bigger than you’re ready for and trust yourself to rise to the occasion. Growth comes from tackling ambitious goals and pushing past your comfort zone. If you’re comfortable, you’re not growing. There are people that run to the fire and some that run away from it. I’ve always prided myself on being someone that ran TO the fire.
“People are always the most valuable resource; hire great people, empower them, and then get out of their way. Success is built on the strength of your team. By surrounding yourself with talented, trustworthy people and giving them
the autonomy to do meaningful work, you create an environment where innovation, ownership, and results thrive.
“Don’t ever stop caring about people.”
Clark Stapelfeld
Chairman and CEO, New Pig
“Oddly enough, it is advice based on the name of New Pendulum and it came from my father. He always told me that businesses operate much like pendulums – they swing through good times and bad times.
“For that reason, patience is an important part of management when navigating difficult times so as not to allow fatalism to provoke hasty decisions.
“Conversely, humility is crucial to management when navigating through good times so as not to allow hubris to provoke careless decisions.”
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