6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
Headquarters: Mississauga, Ontario, Canada
2009 Revenues: $155 million
Change in Sales from 2008: -13.9%
Key Executives: CEO Farrokh Khalili; CFO Roland Bissoon; COO Farhang Manucherian
Canadian Bearings Ltd. is a Canadian industrial distributor; integrated supply accounts for 15 percent of the power transmission/bearings distributor's total sales. The distributor reported strength in mining end-markets, and weakness in industrial OEM and wood products. Growth opportunities include pharmaceuticals and mining. CEO Farrokh Khalili said one of the distributor's challenges was the current exchange rate for the Canadian dollar, which again is close to par with the U.S. dollar. "In my view the exchange rate is a significant barrier. It makes us less competitive in the U.S. market," he said. He said that the distributor is focused on becoming more efficient. "Efficiency and cost containment is an ongoing discipline that we cannot afford not to have," he said.
No. 8: IBT, Inc.
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