Nordex Explosives Ltd.
TSX VENTURE : NXX

Nordex Explosives Ltd.

September 17, 2014 07:00 ET

Jim Taylor, Nordex Explosives Ltd., Winner of 2014 "Entrepreneur of the Year" Award

KIRKLAND LAKE, ONTARIO--(Marketwired - Sept. 17, 2014) - NORDEX EXPLOSIVES LTD. ("Nordex" or the "Corporation") (TSX VENTURE:NXX) is pleased to announce Jim Taylor, Nordex Explosives Ltd. as recipient of the 2014 "Entrepreneur of the Year" award.

Jim Taylor and Nordex Explosives Ltd. were nominated for the award by the Kirkland & District Community Development Corporation from which Nordex received Access to Capital loans in 2004 and 2012. Jim Taylor, Nordex Explosives Ltd. received the prestigious award out of many nominations from across the province. The presentation was made at the Annual Conference of the Ontario Association of Community Futures Development Corporations. Over 250 guests and delegates from Community Futures Development Corporations (CFDCs) recently met in Huntsville for the event. The CFDCs had submitted nominees from the 1,082 potential recipients that were assisted with business counselling and loans in 2014. The Kirkland & District Community Development Corporation is one of 61 CFDCs across Ontario. An independent panel of judges selected the recipient from the candidates that were nominated from across Ontario. On hand to accept the award for "Entrepreneur of the Year" was Jim Taylor, President and CEO of Nordex Explosives Ltd.

Nordex Explosives Ltd., a publicly-traded company and the only Canadian explosives manufacturing company, is gaining a reputation as an industry leader in the manufacturing of explosive products, producing high-quality products for its own clients, as well as for other explosive distributors and manufacturers.

Originally established in 1971, the company has seen revenue increase from about $900,000 during the fiscal year ending December 31, 2003 to approximately $20,000,000 over the last 4 reported quarters all while accomplishing major strategic initiatives designed to increase the footprint for Nordex products.

The accomplishments of Nordex Explosives Ltd. include:

  • the development of new emulsion formulations and new manufacturing facilities
  • the development and manufacturing of exclusive small diameter products in Canada
  • the development and introduction of a new robotic arm loading system
  • ongoing expansion and opening of new strategic facilities
  • an exclusive manufacturing plant for revolutionary perimeter control products
  • development of unique bulk emulsion products for up-hole loading applications
  • the development of unique delivery and loading systems for emulsion products
  • development and manufacture of "higher energy" more cost effective products
  • promotion of "Product & Blast Optimization" philosophy

CEO and President Mr. Jim Taylor states; "When I joined the company in 2003, the company had 3 part-time employees and owned 1 white, two-wheel drive pick-up truck. Here we are, roughly 10 years later with 75 full-time employees; and we have just over 40 trucks on the road, from large transport trucks to pick-up trucks." Being the only Canadian explosives manufacturing company, management found a "niche" for ourselves, Mr. Taylor explains; "To put out the message that we are a Canadian manufacturer and we want to manufacture explosives for the needs of Canadians."

Ms. Paula Mangotich, Executive Director of The Kirkland & District Community Development Corporation, knew the company "needed some new blood to breathe life into it" and had confidence in Mr. Taylor. "We invested quite heavily again, for the future - because you could now see a future," she says. Mr. Taylor echoes her sentiment; "The Community Futures office had some confidence in our abilities to do what we said we wanted to do, and that was one of the original funding mechanisms that really, quite frankly, got us on our way to be able to start to take some next logical steps." Mr. Taylor adds; "Nordex re-invested in new products and new manufacturing facilities, and designed and manufactured their own equipment, including prototypes for new loading systems designed for underground mining and surface operations."

"We set about not only looking at different formulations for products that are unique, but also the equipment that supports those," Mr. Taylor says. The company has now re-established itself in the marketplace and increased market share. As Ms. Mangotich states, "Sales have gone from approximately $900,000 to $20 million annually, in the space of about 10 years."

In accepting the award Mr. Taylor stated, "It is truly an honour to be recognized for such a prestigious award on a provincial level; the award really belongs to all of the dedicated employees and people that believed in us as well as the clients that stuck with us and supported us as we developed exciting new technologies and products that are now being recognized and accepted on an increasing basis."

A video showcasing Nordex and this recent award can be viewed on the Corporation website at: www.nordexexplosives.com

About Nordex Explosives

Nordex Explosives Ltd. is a Canadian-based manufacturer and distributor of explosives for the mining, quarry and construction industries since 1970. Its manufacturing operations and distribution centre is strategically located in one of the world's largest mining regions near Kirkland Lake, Ontario. Nordex is the exclusive supplier of the "Buttbuster" perimeter control explosive products in Canada.

Additional information can be found at www.nordexexplosives.com.

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