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Trican started out as a small cementing company based out of Lloydminster, Alberta. In 1996, a few former Nowsco employees formed a new management team and took the Company public on this day 20 years ago. Dale Dusterhoft (President and CEO), Murray Cobbe (Chairman of the Board of Directors), Dave Charlton (former VP Sales) and Don Luft (former President and COO) were part of a dynamic team that envisioned what Trican could be, and set out to take it there.
Trican – originally called Trican Oilwell Service Co. Ltd. – went public December 9, 1996, with an Initial Public Offering (IPO) of $2.00 per share. Reflecting market confidence in the team and the opportunity, the IPO was oversubscribed. The stock continued a stellar run, and saw the shares split once on a two for one basis and another time on a three for one basis, to the delight of early investors.
What was it like in those early days? If you ask Don Luft, “Fun, pure fun. Never worried about it, never slept, just work, hard work. Never missed a beat. The adrenaline was running, and it was so fun just to do things. Every challenge… you were waiting for them to come so you could tackle them.”
The two most important things to the new Trican team were:
1. To put the customer first and deliver on what Trican had promised.
2. To provide an opportunity for employees to put their best out there and build a company they could be proud of.
Dave Charlton reflects on those early days: “Our people and their work were making names for themselves and keeping us very busy. We really had to be on top of the business to keep customers happy.” Charlton’s pride is visible when he adds: “Service is what made Trican.”
To Dale Dusterhoft, his biggest source of pride is watching the Company grow well beyond what they contributed individually: “I’m most proud of the people at Trican and what they’ve built. Just watching them develop and take the Company to where we are today delights me.”
Trican grew fast. In the past 20 years the Company expanded its services and its areas of operation, before contracting to its roots in reaction to an extreme market downturn. But the story does not end here. Trican is sharpening its focus on growing in the Canadian market and continuing to be the number one choice of customers and employees. The Company built its reputation on delivering service above all else.
Says Murray Cobbe, when asked why the “s” was left off service in the Company name, “We believe Service is a way of doing things, and not just a list of items. That’s the thrust of what we do, we provide service.”
Well said. Here’s to providing service for another 20 years and beyond. “Happy anniversary” to everyone who works or has ever worked at Trican. You’ve made us better for having been here.