NorAg one of Canadaís fastest growing companies
Plans in the works to build two ports
By Brandy Harrison
PORT HOPE ó Itís already one of Canadaís fastest growing companies according to national business magazine Profit, but NorAg Resources Inc. is reaching higher still: founder Ben Currelly aims to double its volume in five years and is set to build two export ports on the St. Lawrence Seaway.
With a 322 per cent jump in profits from 2006 to 2011, the Port Hope-based grain merchant ranked 141 on the magazineís annual list of the 200 fastest growing companies. Profit solicits entries and evaluates five-year growth with financial statements.
"Iíve been congratulated by many people weíve dealt with over the years and itís certainly increased NorAgís profile," says Currelly, who has done feasibility studies for two new ports on the St. Lawrence.
Heís quick to credit his staff and the companyís values for its success, emphasizing that profits come from increased volume.
"Iím a firm believer that increased margins are the death knell of any trading company. If you wish to grow a company, itís not going to be on the backs of farmers," says Currelly, whose family cash crops 3,400 acres and owns a grain elevator operation. "We make every effort and feel ethically-bound to pay the highest price possible for grain."
While he says rising prices and a shift from livestock sectors to cash crops have helped expand the bottom line for many grain companies, he also likes to think of his traders as good relationship managers.
"Itís not only about price. People deal with people they can trust and people who will accomplish what they say they can accomplish."