Thorium Crane Ltd. provides on-call crane and hoisting services to residential, commercial, industrial, and petroleum based companies. Owner Phillip Thomson launched the company in October 2007 and has been operating in Central Alberta ever since.
Prior to 2015, Thorium Crane was heavily invested in supplying services to the energy sector. With the downturn in the local economy starting in 2015, the company was met with some challenges and had to diversify their client base in order to continue to thrive in the midst of changing economic conditions. In order to diversify and obtain new clients in different industries, and with the help of Community Futures Central Alberta, they were able to upgrade their equipment, strengthen relations with some of their key clients, open opportunities in new markets, and cut their monthly expenses.
Although the economic conditions in 2016 were still slow, Thorium Crane was able to make the most out of an unfavorable economic climate. Specifically, in 2016, Thorium Crane was able to:
· Reduce their monthly expenses by 40%
· Enter and serve the green energy and recycling markets such as solar energy, farm reclamation, barn-board and antique salvage
· Strengthen and add key clients within the energy sector to position themselves for success when the economy picks up
Overall, Thorium Crane has a positive outlook and with a lot of hard work, upgrading their skill set, and venturing into other aspects of business, they have a lot to look forward to in the years to come and are excited to see what the future brings for their business. Community Futures is proud of the hard work that Thorium Crane has displayed and wishes them continued success with their business. Business inquiries can be directed to Phil at 403-357-4533.