Category Archives: Canada

Now and the Future of UTC with Louis Chenevert

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Louis Chenevert is a man who has had an impressive amount of success over the years. He first started working for General Motors in Canada and moved his way up to Pratt and Whitney. Six years later he was appointed President of the company. After serving in that capacity for five years he went on to United Technology Corporation in 2006. He was president of that company for eight years and stepped down in 2014. Currently, he is working for the company Goldman Sachs where he finds the latest technology in the areas for which he is known best aerospace and industrial. It is during his time as president of UTC where he made the biggest impact and left a legacy that will be unmatched for many years to come.

 

When he was elected President of UTC in 2006 he focused his attention on the company’s strengths. He acquired Goodrich for just over eighteen billion dollars and began to make UTC a viable competitor on the world stage. Over the next few years, Chenevert focused on getting the latest technology in the aerospace industry for UTC and invested in a program to help workers at UTC attain their degrees in their chosen fields.

 

these two movies were crucial for Chenevert because it gave UTC the ability to compete against other big companies for aerospace and industrial contracts. Louis Chenevert also knew that for UTC to be strong now and into the future he had to invest in his workers. By investing more than one billion

dollars into his workforce UTC will be able to come up with advanced ideas that will carry the company log into the future. This is the kind of legacy that can take some CEO thirty to forty years to do but Chenevert accomplished this incredible feat in only eight years. Visit This Page to learn more about Chenevert.

 

Louis Chenevert stepped down from UTC in 2014. He has created a solid foundation that will enable UTC to be a competitive force for many years to come. His legacy is well established and hard to beat. Louis Chenevert has left UTC with an indelible impression.

 

Read more about Chenevert on Forbes.com

More on: http://frenchtribune.com/teneur/25552-innovative-deals-and-inspired-leadership-characterize-louis-chenevert

Obsidian Energy – Reemerging Stronger and Leaner

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Obsidian Energy Limited is based on discipline, resolute accountability to partners, shareholders and to the local communities. This is an intermediate-sized producer of gas and oil producing about 30,000 barrels of oil equivalent (boe) per day backed by a well-balanced portfolio of assets.

 

Recent Changes

In June this year, shareholders passed a resolution to change the name to Obsidian Energy Ltd from Penn West. According to the CEO, Dave French, the company opted for this name as it represents volcanic glass that is naturally occurring, and which can “sharpened and honed.” As significant changes were felt throughout the organization, this has redefined the Company and its future outlook.

 

As Obsidian begins a new chapter, it is hoped that the new changes will guide the Company along 3-principles:

 

Disciplined decision-making towards building and protecting enterprise value.

  • Continued pursuit of innovation and progress.
  • Transparent and accountable efforts.

 

The corporate name change from Penn West Petroleum comes after the Company survived a commodity price crash, a potentially damaging accounting scandal, and a severe debt crisis. The scandal had led to class-action lawsuits which were only settled in 2015.

 

Obsidian initiated several asset sales allowing the Company to cut the net debt witnessed at the close of 2013 of nearly $3 billion to $384 million by close of March 2017.

 

The Future

According to David French, President and CEO, the company has a healthy balance sheet, the right assets, and a well-thought-out hedging strategy allowing it to set a performance standard even when operating in lower price market environments. Go To This Page for more information.

 

Obsidian Energy Limited is now a comparatively big enterprise with production of about 28,000-30,000 boe per day this year, down from the 2013 figure of 135,000 barrels of oil per day. As at the close of 2016, the Company listed 407 employees against the 1,415-figure recorded 3-years earlier.

 

Conclusion

Over the coming 3 years, the Company plans on pursuing modest growth with their budgets tightly linked to gas and oil prices. With the latest name change and tight financial measures, Obsidian Energy has reemerged learner, stronger and more capable than it was ever before. The company was at the apex of its success and was even among the sixty most prominent firms in the Toronto stock Exchange and was also a Canadian Royalty Trust (CANROY).

See: https://beta.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/penn-west-shareholders-approve-name-change-to-obsidian-energy/article35463586/?ref=http://www.theglobeandmail.com&

A Vibrant Oil And Gas Producer, Obsidian Energy

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Obsidian Energy is a leading medium-sized oil and gas producing company. The company currently produces about 30,000 barrels of oil and gas per day. The company derives its reputation from the high-quality assets and first class producing. Obsidian Energy’s assets are a platform for the company to produce solid net income results.

 

The company relies on the innovative spirit of its employees to deliver in the highly developing industry. The driving forces of Obsidian include discipline, persistent spirit and accountability to the partners of the company.

 

Obsidian Energy was previously referred to as Penn West Petroleum. 92% of the company’s shareholders voted in favor of changing the company’s name to Obsidian Energy. The name change came with a set of strategies that were put in place to ensure growth in the coming years. The Company’s CEO stated that Obsidian was chosen as the company name as it is a naturally occurring volcanic glass which can be honed and refined.

 

Obsidian Energy’s production is aided by its Peace Rivers Maneuvers by 90%. The aid is expected to end in 2017. The end is expected to downgrade production by 6%. The company has promising book and stock values. However, the values might be affected by the oil prices used for reserve valuation and impairment tests. Averagely, Obsidian Energy is priced for $40. However, it can approximately have a double upside with $55 longstanding oil.

 

In its Analyst Day presentation, Obsidian energy indicated that it could ensure a 6% growth in production in the period between 2017 and 2021. As Dave French states, Obsidian Energy has a solid placement and high-quality assets. With a well-balanced portfolio and a practical strategy, the company can set an incredible performance standard even in low oil and gas prices. Click Here For More Information

 

Obsidian Energy works with gas and oil fields that are located in Alberta which is located the Sedimentary basin in Western Canada. Western Canadian sedimentary basin is known for the petroleum resources that have been named as the world’s best, the Company’s total production in 2017 is expected to be 30 000 barrels per day.

 

Related: https://globalnews.ca/news/3481168/penn-west-proposes-name-change-to-obsidian-energy/

Gregory James Aziz; Shrewd Businessman Behind The National Steel Car

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Born on 30th April 1949 in his home hometown, Hamilton, Ontario, Greg Aziz became one of the most successful businessmen in the world. He started off his schooling at a young age after which he attended Ridley College. He later went for his undergraduate studies at Western University in London where he managed to graduate with a major in Economics. He has been the CEO of the National Steel car for the last 23 years.

 

 

After his schooling, he initially joined the family business where he worked until the 1980’s. Their family business was involved in the exportation of fresh foods around Eastern Canada and the United States of America. In the early 1990’s, he ventured into the banking industry where he worked as an investor in New York. Greg Aziz efforts paid off in the year 1994 where he managed to facilitate the acquisition of the national steel car from the owner at the time, Dofasco.

 

 

Greg Aziz put his efforts in making the national steel company one of the reputable and successful business in the region for production of freight cars for railways. This came to pass as the company grew in proportions from producing only 3500 vehicles a year to producing 12000 cars a year by 1999. The staff also grew exponentially from 600 to a staggering 3000 people employed in the company. All this was thanks to the leadership and steering of the man himself, Greg James Aziz.

 

 

The company prides itself on the professionalism and quality and timely delivery. This has been the company’s magic wand since they have managed to be honored by the Annual TTX SECO awards for almost a decade in a row. The company is the only ISO certified railcar company in the North American region; ISO 9001 2008. This is a good indication of quality service delivery and engineering competence in the heavy steel works sector. Apart from their huge list of inventories of building rail cars, the company offers aftermarket services such as repairs and consultancy to companies using their products. Refer to This Site.

 

 

Under his 23 years of success, James Aziz has been graceful enough to be involved in charity and community service within his region and beyond. Through the company, he has donated to the Royal Agriculture Fair event in Canada, has sponsored Theatre Aquarius, the Hamilton Opera, the united way and the Salvation Army among many other charitable events.

Penn West Downsizes and Changes Name to Obsidian Energy

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In June 2017, Penn West Petroleum changed its name to Obsidian Energy. Obsidian Energy now aims at being accountable to its stakeholders including the shareholders, partners and the public based in the areas they operate in. The oil and gas production company commit to attaining growth in the coming years by being keen interest in their budgeting needs especially concerning the cost of oil and gas.

 

The change of name comes as no surprise following the scandal that rocked Penn West in 2014. At the time, David Dyck, the company’s newly appointed chief financial officer, discovered irregularities at the institution and reported them. The error had $300 million in expenses miss-classified, which forced the company to restate its 2012, 2013 and part of 2014 financial reports. This resulted in lawsuits based on accounting irregularities in Canada and class-action lawsuits in the United States.

 

Other than surviving this scandal, the company also survived a commodity price crash and four years of high debts, which saw it go through both financial and operational difficulties. To sail through the turbulent times, Penn West made asset sales. The disposal of its assets helped to bring down the net debt to just $384 million down from three $3 billion.

 

The company also reduced its workforce starting in 2012. This undertaking saw the number of employees decline from 1,415 to around 400 by the end of 2016. There was a halt in the payment of dividends, and members of the board of directors went without compensation. Click Here for more information.

 

The 26th June change of name came into effect after 92 percent of the shareholders voted for a change of name. With Obsidian undergoing these massive changes, it was imminent for the company to distance itself from the four years strain and mishaps to give it a facelift.

 

Obsidian Energy is now an oil and natural gas production company based in Calgary, Alberta. Its gas and oil fields are found in one of the world’s largest petroleum reserves in Alberta. In a day, it has an estimated production of 30, 000 barrels of oil.

 

See: http://calgaryherald.com/business/energy/restructured-penn-west-proposes-name-change-to-obsidian-energy

Gregory Aziz- CEO Of The Leading Manufacturing Company; National Steel Car

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Greg Aziz is an entrepreneur who has been in the engineering and manufacturing sector for some time. He is the chairman and the CEO of the biggest manufacturer of railroads cars in North America known a National Steel Car. National Steel Car has been in this industry for over a hundred year. Formed in 1909, it is the only company that has been able to survive for that long. National Steel Car has survived economic depressions ad technological advancement in the industry to survive for so many years. The company is located in Hamilton, Canada. The company deals with three levels of operations namely; engineering, design, and manufacturing.

 

Greg Aziz is from Ontario, Canada. He went to the University of Western Ontario where he did a degree in economics. After graduating from the university, he joined a family business that dealt with wholesale foods supply. As an economist, he helped the family grow that company into a regional food supplier. The company began importing food from other continents. It also expanded its supply to Canada and United States. His contribution to the company was huge and even after he left the company continued with this growth for many more years, it was ranked as the biggest importer of fresh foods in North America. Go To This Page for more information.

 

 Gregory J Aziz moved to New York to look for job opportunities in the investment banks. While working in the investment banks, he met Dofasco who were the owners of the National Steel Car. Since they were unable to sustain the growth of the company, they sold it to Gregory J Aziz. Greg Aziz was determined to renovate the company and make it better than it was. He was ready to pump money into the group to enable it to change its production systems. Greg Aziz being a brilliant entrepreneur managed to look at all the areas that needed improvement and came up with a strategy that set the company on a path of development. 5 years after he took over the management of the company, the production capacity was no longer the same. National Steel Car was producing over 12500 railroad cars. This was a great improvement from the production of 3500 cars in a year that was produced before he took over the management,

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National Steel Car is now a fully developed company in the region with an ISO certification and a 13 consecutive TTX SECO quality awards. This an award for the company that produces the best quality products.

 

See Also: https://remote.com/greg-aziz

Achievements Of Obsidian Energy Company

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Obsidian Energy Company; formerly Penn West Petroleum Ltd, has set an exemplary standard for other energy companies. Despite it being a private firm, it has dramatically improved the economic status and other life aspects of life in Canada. The exportation of renewable energy resources has increased the states’ revenue to a great extent. The highest consumption of energy resources has dramatically realized.

 

Obsidian Energy Company has the most significant number of employees. The open up of more energy sub-station by the company has enabled easy access to energy services. The living standards of the society have improved due to the accessibility of affordable, sustainable energy resources.

 

The company always seeks to ensure efficient energy supply as well as the safe and clean environment. The production of natural renewable energy has enabled the state to attain a green economy. It has reduced the carbon emissions and harmful element to the environment.

Obsidian has also managed to supply energy resources and services to nearly all cities in the United States. The company has kept on setting up more energy sub-station every year for their services to reach all parts of the nation. The Obsidian Energy Company creates awareness about their energy services, products, and their location through advertisement in Social Medias. Additionally, the company organizes empowerment programs where the societies get to learn more about the Obsidian Energy Company.

 

Obsidian Energy Company allows their customer to purchase their products such as energy devices and appliances on installments basis. The company in attaining its mission of reaching all part of the nation will enable customers to buy its products and services at agreed payments. The low-income customers can access the energy resources on installments.

 

The company has a research department where the executive team in the Obsidian Energy firm keeps on researching advancing technology. The company also allows other investors and researchers to carry out their researches within the research. The finding from the conducted research has benefitted the company through the advanced use of technology, innovations, and attainment of a green economy.  Read This Page to learn more.

 

In conclusion, Obsidian Energy Company has greatly contributed to the well-being of all life aspects of the Unites States. The company is one of the backbones of the current flourishing economic growth.

Gregory Aziz’s Connection To This Family May Surprise You

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The world is changing rapidly.

Today’s global economy requires faster and more efficient solutions for the problems of supply and demand. Getting raw materials and finished products from the source to the user remains an ever-present challenge for today’s logistics professionals.

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National Steel Car, one of the world’s leading freight car engineering and manufacturing companies, steadily leads the pack in transforming logistics problems into pioneering and innovating solutions. Gregory James Aziz, CEO, President, and Chairman of National Steel Car, stands at the helm. The proud members of National Steel Car look to the future with its new challenges to be overcome and opportunities to be seized.

 

Greg Aziz received his formal education in London, Ontario, where he studied Economics at the prestigious Western University. It is this solid academic background in the art and fundamentals of finance that Gregory J Aziz draws upon to shepherd his world-class team of dreamers and engineers towards the pioneering future.

 

As CEO, President, and Chairman of National Steel Car, Greg Aziz recognizes the substantive responsibility in caring for his team members, his company, and his clients. Ensuring that his proud production staff are well taken care of, that his team of researchers and engineers has the tools and resources they need to help National Steel stay on the cutting edge, safeguarding the interests and financial prosperity of his great company, and maintaining the overall happiness and continued success of National Steel’s diverse client base is a non-stop challenge for Greg James Aziz. This is a challenge that years of experience in the field, a dedication to craft and ownership of professional responsibility, and a wholehearted commitment to his clients make Greg especially suited for – a true cut above the rest in the field of freight transport engineering. View More Information Here.

 

1Greg James Aziz draws his personal inspirations from other leading trailblazers in the field of logistics and transport, rooted in the knowledge passed down from generations of experience and wisdom, while also looking towards the horizon of new discovery, innovating, dreaming, and creating the tools of the future to solve the logistics problems of the present. You can be sure that with every step the industry takes, with Greg Aziz at the helm, National Steel Car will be at the forefront, shining a beacon of light to illuminate the “road less travelled” – and the promise of an ever-brighter future for this generation and the next.

Impacts of Obsidian Energy Company to The Economy

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Introduction

Obsidian Energy, formerly Penn West Petroleum Ltd, is one of the leading companies in the production of oil and natural gas. The growth of Obsidian energy has dramatically impacted to the economy of the United States as well as to the Canada community. The sustainable energy production in Obsidian Energy Company has positively affected all aspects of life in the country.

 

Economic Growth

Then Obsidian Energy Company produces environmentally friendly natural gas and oil. These types of energy are sustainable, affordable and accessible. Therefore, reducing the general cost of living. When the cost of living is low the economy of a nation goes high enabling the country to venture into other investment projects that generate more revenue. The state also receives foreign exchange through exportation of the energy products from Obsidian Energy Company thus increasing the economic growth in return.

 

Poverty Eradication

Obsidian Energy Company has also contributed to poverty eradication in the nation. The availability of affordable energy resources gives all an equal opportunity to meet their basic needs. The energy resources help facilitates the provision of necessities in the house. For example, energy helps in cooking, lighting, communication among other things. Obsidian Energy Company has created job opportunities to a good percentage of the unemployed. The ability to access energy resources and creation of job opportunities has led to improved living standards and reduced crime rates.

See This Page for more information.

 

Industrialization

The production of long-term energy resources in the Obsidian Energy has led to the growth of more industries. Investors and entrepreneur can access energy resources to help in facilitating the manufacturing and processing activities in their firm. Obsidian Energy Company also supplies industries with modern devices to connect with the energy sources. The uses of modern technology, therefore, grow rapidly. Consequently, the industries import items from developing countries, process them using their advanced technology and export them back at a higher charging rate. The continuous consumption energy has also ensured the stability of Obsidian Energy Company as well as that of the industries.

 

In conclusion, Obsidian Energy Company is the backbone of the well-being of all life aspects in the United States, both economically and socially.

NSC Thrives Under Gregory Aziz

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National Steel Cat have thrived under the management of Gregory James Aziz. James Aziz has been the CEO of National Steel Car since 1994. The company was owned by Dofasco before he made a purchase. Since 1994, NSC has thrived and gained global recognition. It is now an international company, and the leading railcar manufacturer in North America.

 

Gregory James Aziz was born in Ontario, in 1949. He was brought up under fair conditions and acquired formal education by going through Ridley College. He, later on, was admitted to the University of Western Ontario, where he did Economics.

He soon graduated, and being that there were employment opportunities for economic students, he began working with Affiliated Foods in 1971. This was a company that his family owned. He worked with it for several years before the urge to own one of his own overcame him. Greg Aziz moved to New York for more experience and also to accumulate enough wealth that he knew would be required to purchase a firm.

 

Being interested in railcars, he settled on National Steel Car and bought it from Dofasco in 1994. Gregory J Aziz’s dream was to make this company grow to unimaginable heights, and extend its services to the whole of North America and even other parts of the world.

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1996 became an important year in his career as National Steel Car made a milestone achievement by winning the TTX SECO and therefore gaining recognition. It continuously and consistently won the annual award for several years, and this puts National Steel Car in the railcar companies’ world map.

 

1994 marked the year of transition since by the end of this year, the changes evidenced by the company were innumerable and astounding. National Steel Car by then, was manufacturing 12,000 cars yearly; up from 3,500 which was the original record, at the time of purchase. The company also showed a noteworthy change of numbers in the employment rate, as it rose by more than five times the initial number. Get More Info Here.

He married Irene when he felt that he was settled and ready to raise a family. He resides in Ontario with his folks, and together with his wife, he sponsors activities in Canada like the Royal Agricultural Fair; which currently is the most famous fair in Canada. They also fund charitable organizations and support various groups. National Steel Car throws a Christmas party every year, for its current and former employees.

Learn More: http://www.lacartes.com/business/Greg-Aziz-National-Steel-Car/191944