Contour Machine Ltd., based in Toronto, is a sheet metal manufacturer that offers services including metal punching, bending, laser cutting, TIG and MIG welding, and assembly. The company has 55 employees, a diversified customer base and is ISO certified. The firm’s exports to the U.S. market represent one third of its revenues.
BDC has enjoyed an ongoing relationship with the owner and President Leslie J (John) Baxter. The Bank first stepped in to help the company finance large equipment, including CNC brake and punching machines. Later, when the firm found itself strapped for space and facing efficiency challenges, the owner was looking to finance commercial real estate that would meet the company’s evolving needs and improve growth capacity.
BDC provided commercial real estate financing for the company’s new and expanded location—a 25,000-square-foot space that gave the firm room to grow. The new premises also included a single warehouse that resolved production and efficiency issues such as material management. The Bank was able to offer long-term financing with flexible terms that helped the company keep vital cash in the business and maintain its growth momentum.
As a result of the move, Contour Machine Ltd. has experienced significant growth. The added space has allowed the company to expand production, improve production flow and ultimately be more efficient. The company has also improved shipping time by approximately 30%. Furthermore, the new location improves its public image and reflects the company’s excellent reputation in its industry. “Having a bank that’s on my side and looking out for my best interest makes life a whole lot easier. I would still be where I was without the help of BDC,” says Baxter.