Groupe Bocenor Changes Names, Expands Products
Quebec window and door manufacturer Groupe Bocenor Inc. will now be known as GBO Inc. and has added new products and marketing strategies in an attempt to spark profitability.
“We’ve virtually rebuilt the company over the past two years since we emerged from a financial restructuring in 2004-2005,” said Dennis Wood, interim CEO, at the company’s annual meeting. “We've repaid $8 million of long-term debt, closed plants, updated our manufacturing and marketing, and developed top-quality products while maintaining the Bonneville brand name.”
GBO will focus on the U.S. East Coast, Greater Montreal and Greater Toronto markets, according to a report in the Montreal Gazette. The company sells to independent building materials distributors, specialty window and door distributors, retailers and construction and renovation contractors.
Wood reports that the company’s turn-around may take a while, thanks to the current, extended U.S. housing slump. Its last profitable year was 2003, when it reported sales of $124 million. The company employs about 500 in the Beauce area of Quebec.
“Despite the slowdown in housing starts, especially in the U.S., the home-improvement market remains stable,” Wood says. “Sales in May and June improved, helped by the launch of 12 new products. We've recruited nearly 30 new customers since March, and we expect moderate sales growth for fiscal 2008.”