Normiska on track to surpass projection

While the year-end report isn’t due until early February, all indicators show Normiska is on track to have had another record sales year for 2001.
The company also is on track to surpass its forward-looking projection in 2000 of $8 million in sales and an EBIDTA (earnings before interest, taxes, depreciation, and amortization) of $1.2 million, according to its third-quarter report.
Normiska president and CEO David Graham didn’t want to reveal too much before the year-end report is published, but only had good things to say about the year just past—and the one ahead.
“We’re very happy with sales,” he said. “In three years of operations, we’ve grown quite quickly.”
And Normiska will continue to focus on profitability.
“We’re very bullish on the coming year. We have good projections and there will be great strides in the coming year,” Graham predicted.
Normiska processes jack pine bark into a line of compost and mulch products at its McIrvine Road plant, and harvests horticultural-grade peat moss from its sphagnum peat bog in Fort Frances.
Sales continue to increase as the local peat bog begins to produce at higher rates.
The products are used for landscaping, golf course construction, nurseries, and greenhouses.
Normiska employs a skeleton crew of 12 people in Fort Frances but has employed as many as 30 in the past. It also owns a mineral plant in Lachine, Que.