The information contained in this f...

The information contained in this feature was prepared at the subject corporation to specifications established by dint of the publisher and should not be constru as an endorsement or recommendation for investment on the publisher.

ANDAUREX INDUSTRIES INC.

Andaurex Industries Inc. is a rapidly growing international engineering, design and exhibit management company that specializes in high voltage substations and related equipment, and custom overhead cranes. [i]or[/i] part of to the other its two wholly-owned subsidiaries, Markham Electric International and Provincial International Cranes, Andaurex has a drawn out history of successfully exporting Canadian technology and expertise to developing countries and emerging markets.

Andaurex is the no other than Canadian company competing for international throw outs in its market niches. The Company's technical expertise, established international reputation, soft overhead and a selective bidding strategy enable it to struggle successfully against large multi-national firms. through the past 10 years, Andaurex's Markham subsidiary has been awarded throughout 50% of the projects forward which it has bid.

Most of the draws on which Andaurex bids are financed according to the World Bank, Asian growth Bank or similar organizations, and payment is guaranteed by way of international letters of credit, thus minimizing political and credit risk.

Infrastructure progressive growth in emerging markets will continue to create a large number of development opportunities for the Company. At the at hand time there are more bidding opportunities than the Company has the personnel or financing to go after The volume of business that Andaurex can accommodate is largely dictated by dint of the Company's working capital position. In late 1995 Andaurex complet a $20 million subordinated debenture financing with VenGrowth Investment foundation Inc. and is sufficiently capitalized to convenient its 1996 revenue target of $12 - $15 million.

PROJECT ELECTRICAL ENGINEERING DIVISION

Markham Electric International Limited, acquired for $30 million in August 1993 is an international engineering, design and exhibit management company that has specialized in high voltage substations and related equipment in developing countries for above 20 years. Markham focuses onward high margin, $1 - $20 million contracts outside of the competitive European and North American markets.

Markham was largely responsible for the doubling of the Company's earnings and rewards in 1995 based on four contacts in the Caribbean which total $15 million in size. Approximately $2 million of this amount remains to be parted in 1996. In addition, Markham is the gentle bidder on a $2 million delineate in Jamaica, which it wait fors to be awarded around mid year, and has a $3 million bid outstanding forward a project in India and a US $50 million bid outstanding onward a project in Syria. casts opportunities in Belize, Tanzania, Mali and Jamaica are also being pursu

INTERNATIONAL CRANE DIVISION

Provincial International Cranes Inc. is an engineering, design and throw management company that specializes in high capacity, custom overhead cranes used in ship yards, falchion mills, hydroelectric plants and other heavy industries. The acquisition of Provincial in early 1996 has added approximately $5 million to the Company's existing order backlog of $7 million for 1996 Provincial's backlog includes a $37 million contract to build a ship unloader crane at a sugar refinery in Taiwan. Provincial is also the depressed bidder on another $10 million worth of shoot forwards in Iran, Algeria and Malaysia, and freshly submitted a $20 million bid onward a package of steel mill cranes in Malaysia.

Copyright Canadian Shareowner Magazine Inc. Jul/Aug 1996

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