AFD Petroleum Ltd.

AFD Petroleum Ltd.

March 10, 2015 05:00 ET

AFD Petroleum Named One of Canada's Best Managed Companies

EDMONTON, ALBERTA--(Marketwired - March 10, 2015) -

Editor's Note: There is a photo associated with this press release.

AFD Petroleum was named one of Canada's Best Managed Companies in 2014 for excellence in business performance. Sponsored by Deloitte, CIBC, National Post, Queen's School of Business and MacKay CEO Forums, the Best Managed award recognizes Canadian owned and managed companies with revenues over $10 million for sustained growth, financial performance, management practices and the efforts of the entire organization.

"I would like to congratulate AFD Petroleum Limited and its entire workforce. Achieving this standard of excellence takes a united effort from a dedicated team," said Peter Brown, National Co-Leader of Canada's Best Managed Companies Program and Senior Practice Partner, Deloitte.

What makes AFD a Winner?

  • An Integrated Business Planning Model (IBP) connecting planning functions department-wide, aligning corporate/financial goals, allowing quick reaction/ adaptation to industry volatility.
  • A laser-focused strategy in meeting ever-changing marketplace challenges while remaining a financially stable, growth-oriented organization.
  • A commitment to create stakeholder value -
    • Allying with US based refineries as well as western Canadian refiners and terminal operators, allowing flexibility to address customer issues such as trucking cost, seasonal road safety, and fuel shortages.
    • Launching a fabrication company (partnering with Global Engineering Solutions (Hong Kong) enabling production of fuel tanks, card-locks and innovative on site equipment for AFD and other global clients, designed to operate in Northern Canada's climate and vast geography.
    • Improving the customer experience by hiring Customer Service Representatives (CSR) to onboard new customers, instituting a home heating budget payment process, standardizing credit applications/credit limit policies, developing an online customer portal providing real time information.
    • Developing uniquely designed automated software "Octane" combined with a truck mounted computer system "Touchstar" and satellite tank monitors built internally.
    • Incorporating AFD's own brand of 'Award' lubricants to our product mix, realizing increased margins for the customer.
  • A commitment to Employees -
    • Developing future leaders by providing subsidized employee education programs and onsite training.
  • A commitment to Communities -
    • Through the AFD Racing Program, AFD annually invests in sports teams, athletes and events to promote healthy vibrant communities.

"It is truly humbling for AFD to be recognized as one of the 'Best Managed Companies in Canada' said Bradley Williams, Senior Vice President. This prestigious award validates twenty-five years' of hard work and determination invested in building a successful business focused on its customers and employees. With the recent downturn in Alberta's oil economy, AFD's planned strategies of proactive adaptation, keeping staff informed, adjusting purchase patterns, and achieving cost structure economies are mitigating the impact. Our exceptional staff, excellent and varied customer base and systems allow us to keep our finger on our business pulse in real time."

"CIBC congratulates the 2014 Canada's Best Managed Companies winners for this remarkable achievement, which is a reflection of strong leadership, sound business planning and sustained growth." said Jon Hountalas, Executive Vice President, Business Banking, CIBC. "We're proud to recognize their contributions to the Canadian marketplace."

2014 winners of the Canada's Best Managed Companies award, along with the Gold Standard winners, Requalified and Platinum Club members will be honoured at the annual Canada's Best Managed Companies gala in Toronto on March 31, 2015. On the same date, the symposium will address leading-edge business issues that are key to the success of today's business leaders.

About Canada's Best Managed Companies

Canada's Best Managed Companies continues to be the mark of excellence for Canadian-owned and managed companies with revenues over $10 million. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on four levels: 1) Best Managed winner (one of the new winners selected each year); 2) Requalified member (repeat winners retain the Best Managed designation for two additional years, subject to annual operational and financial review); 3( Gold Standard winner (After three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully reapplied for the designation. Companies may requalify for two additional years, subject to annual operational and financial review; 4) Platinum Club member (winners that maintain Best Managed status for a minimum of six consecutive years). Program sponsors are Deloitte, CIBC, National Post, Queen's School of Business and MacKay CEO Forums. For further information, visit www.bestmanagedcompanies.ca.

About AFD Petroleum (www.afdpetroleum.com)

Founded in 1989, AFD Petroleum Ltd. (AFD) is an Alberta-owned independent distributor of bulk fuel and lubricants, specializing in remote location, commercial fueling. With 25 years of experience and 180 employees, more than 2500 customers are served, from over 15 branches across Western Canada, Alaska and Texas, in sectors including forestry, agriculture, marine, mining, drilling, and construction. Every effort is made to supply competitively priced fuel products with equipment specifically selected (or designed) for the site. In October 2014, AFD received the Silver Medal as Canada's Safest Employer in the Transportation Category, national recognition for its ongoing commitment in creating a safer work environment.

For further information, please contact:

bestmanagedcompanies@deloitte.ca

www.bestmanagedcompanies.ca

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