Issue link: http://tourismwpg.uberflip.com/i/1466452
New acquisitions set stage for growth Price Industries Price Industries President Joe Cyr said Winnipeg plays a huge role in his company's success, with 1,300 local employees and 3,600 in Canada, the U.S., New Zealand, Australia and the Middle East. The East Kildonan-based company is a market leader in the heating, ventilation and air conditioning (HVAC) sector on both sides of the 49th parallel and beyond. EDW: How was 2021 for Price Industries? Joe Cyr: It was the biggest year of investment in our history and one of the biggest for growth. We completed two major acquisitions. The first was Holyoake, our equivalent in New Zealand and Australia. It's already leading to terrific results, selling operating room air distribution systems made in Winnipeg and adding sales and jobs here. In November, we acquired 90 per cent of Pottorff, a family- owned business based in Fort Worth, Texas. It's one of the top three manufacturers of commercial dampers and louvers in the U.S. This deal puts us in a leadership position in that sector. EDW: Why is it important for Price to grow its community presence? JC: Winnipeg is a great place for our head office and to grow a business. The recruits we get from the University of Manitoba and Red River College Polytechnic are as good as it gets. We have hundreds of long-term employees. Our ability to attract, retain and develop top talent locally is a bit of a secret weapon. EDW: What is the key element to the Price culture? JC: We are by far the most innovative manufacturer in our industry. Gerry Price, our CEO for more than 40 years, has his Ph.D. in mechanical engineering and is a born scientist and experimenter. Our engineers earn his biggest smiles when discussing new product creation. Winnipeg inspires innovation— there's a resilience and a character to the city and the people. EDW: What are your plans for this year? JC: What has occurred is because of our massive investments. Now we plan to execute and build on that. Synergies throughout the whole enterprise mean we're just now entering our sweet spot. We anticipate record growth and expansion in the years ahead. Courtesy of Price Industries Courtesy of Price Industries Y E S ! W I N N I P E G I N V E S T O R S THE WINNIPEG INVESTOR 52 YES! WINNIPEG INVESTORS | PRICE INDUSTRIES