News & Events

Tarpon announces sale of its Process Systems division

Tarpon Energy Services Ltd. (Tarpon) has closed a transaction selling its Process Systems division to Prolink Fabrication Ltd., effective April 1, 2010.

Tarpon acquired Process Systems in September 2005 and the division was an important element of the organization’s strategic plan prior to the current industry downturn. Continued over-capacity in the markets Process Systems serves has led Tarpon to conclude it should refocus its strategy on its core businesses. The move will also help strengthen Tarpon’s financial position and result in cost efficiencies for the company.

Commenting on the sale, President & CEO, John Henry said: “As part of Tarpon’s strategic plan, we concluded that the sale of the Process Systems division would positively impact the value of the company and allow us to direct additional resources and focus to our long-term growth plans. We would like to thank the Process Systems employees for their hard work and dedication over the past four and a half years and wish Prolink Fabrication great success going forward.”

Best Managed for fourth consecutive year

Since 2006, Tarpon has been competing with hundreds of entrepreneurial companies across Canada for the Best Managed designation in a rigorous and independent process that evaluates the calibre of our management abilities and practices. Now in its 17th year, the Best Managed designation symbolizes Canadian companies focused on their core vision, creating stakeholder value and excelling in the global economy.

This year, we are excited to announce that Tarpon has been chosen as one of Canada's 50 Best Managed Companies for the fourth consecutive year. “We are extremely hounoured to receive this recognition. This award is a tribute to Tarpon’s skilled workforce who is committed to delivering unsurpassed customer service and focused on creating long-term value for our clients,” says Rick Wickland, Senior VP, Electric & Controls Division. “Even though we experienced a challenging year, our talented employees continued to execute projects while ensuring unparalleled quality, safety and best-in-class service.”

Tarpon supports SAIT's Promising Futures Campaign

Since inception, Tarpon has made considerable efforts to utilize its resources to assist the communities in which we live and operate. Supporting our communities is part of Tarpon’s culture and one of our ten core values. Recently, Tarpon demonstrated its commitment to its core values by making a significant investment in the education and continued learning of current and future graduates of SAIT Polytechnic, located in Calgary, AB.

The SAIT Promising Futures Campaign aims to provide a learning centre that, once completed, will provide sufficient resources to meet industry’s demand for skilled workers. Officially dubbed the Trades and Technology Complex (TTC), the new addition will increase the institute’s student capacity by 8,100 individuals per year – including 6,000 apprentices (1,500 per semester). Set for completion in 2012, the proposed TTC is geared towards training personnel for the energy, construction, manufacturing and automation industries.

Tarpon’s Board member, Kevin Fleury, believes the opportunity to provide support for the expansion and development of the TTC was one that could not be ignored. “SAIT’s Promising Futures Campaign is a cause that is directly in line with Tarpon’s core values and is crucial to the growth of our business going forward,” he says. “Although activity levels have dropped dramatically year over year, the industry still experiences a shortage of qualified tradespeople. On average, SAIT has turned away more than 4,000 qualified applicants each year due to the lack of learning space. As nearly 70% of our people are in the trades, our decision to get involved was an easy one. It presented a chance to invest in both our current and future employees through SAIT’s apprenticeship and continued education programs.”

Approximately 675,000 square feet in size, the TTC will feature leading-edge workshops and classrooms, while providing ample space for lecture theatres and computer labs. With a hefty price tag of $445 million dollars, SAIT has turned to the government, industry leaders and individual donors for monetary support. The Government of Alberta has recently pledged $300 million dollars towards the TTC, while SAIT has assembled a Promising Futures Campaign Cabinet with the goal of raising $75 million dollars from the private-sector.

As one of the 20 individuals on the Campaign Cabinet, Fleury is excited to volunteer his time for this important initiative. “As a SAIT alumni, I feel privileged to have the opportunity to sit on the Campaign Cabinet along with several members of the business community,” he says. “I have been able to give back to SAIT and to those in western Canada who choose a trade as a career path. To date, we have raised $27.5 million dollars towards our goal and we are excited about the responses received from both individuals and corporations. The Campaign Cabinet has made a commitment to ensure the TTC is ready to accept new students by 2012. With the support from companies like Tarpon, SAIT is on the path to promising successful futures for many students in the near future and I am proud that we are part of this impressive achievement.”