During these past few months the market has been hit hard with a rapid decrease in the price of oil, which in turn has negatively affected many businesses and specifically the service companies. The main challenge for many service companies during this rough time is to maintain economic viability and to efficiently adapt to changes in the market. While there are some companies that simply cannot adjust fast enough or have been hit harder than most, Foremost has prided itself on its ability to maintain financial security due to its healthy balance sheet and lack of debt. It is incredibly important for our customers to know that even in tough economic time’s Foremost stands above the competition as the supplier of choice and will continue to be the most reliable choice in the industry when it comes to delivery.
One of our recent strategic decisions to adjust to the current market situation was to consolidate our Calgary south location resources to our location in Lloydminster. This has allowed us to appropriately staff our shops according to the current market demand and has enabled us to concentrate our experience and knowledge by combining the resources from both manufacturing locations. Ultimately this consolidation reduces our operating costs while still allowing Foremost to provide our services at our highest standards.
Despite the market conditions Foremost maintains its world-class status that leverages its excellence in engineering and fabrication to consistently deliver quality products to the agreed specification, performance, price, and delivery. We are customer-focused by honouring our commitments and delivering on our promises accurately and timely. No matter what the economic situation might be, Foremost will always be one of the largest and most diverse industrial manufacturers in Western Canada.