Hey Mkt Inventor, nice post as usual. I had the distinct pleasure of meeting Jean this afternoon at their location in Mississauga. Viraf Kapadia had invitited me to accompany him.
We were greeted by a real gentleman by the name of Gerry. Gerry mentioned he was from Newfoundland and I noticed his slight accent when he was just a tad stressed. I liked him immediately. Àctually I can say that I havent met a Newf that I didnt like. Just something open and honest about them that I truly appreciate. Gerry brought us into their presentation room where we were given a power point presentation of what had had transpired over the last 2 years with Luxell as well as their product line and how closely related we were on a techno level. Gerry really knew his stuff with a world of experience that included working for L3. Very ìnteresting presentation. Without yet naming a list of very influential clients that Luxell was dealing with, suffice it to say that 20 to 25 year contracts have been established for long term re-occurring revenues. These companies are very high profile major companies that despite the history of the publicly traded Luxell have recognized Luxell for the technical abilities and actually because of the fact that they were privatized stayed with them.
Luxell has become a private company and is no longer traded on the Stock Market. In doing so with the guidance and wisdom of Jean-Louis Larmor has actually reduced Luxells expenses by 37% while increasing profits by 36%. (maybe Star should take lessons). The revenues of Luxell in 2008 were 5.1 M. In the calendar year 2009 they are on track for 7M in revenue.
Let me explain that while Gerry was doing his presentation on the merits of Luxell Jean came in and quietly listened until Gerry asked him to comment. Jean-Louis Larmor is a very distinguished quiet spoken man with a delightful French accent. He spoke with a reserved conviction that I have noticed comes from someone with a lot of experience and knows what they are doing without telling you of their experience. It was not in your face, nor was it trying in nature to convince you. It just was.
We discussed the merits of SNA and the merits of Luxell and the close relationship and history that Jean and Viraf shared. Here were two companies that could mutually benefit from each other. Both CEO`s with tremendous experience and expertise. Luxell with tremendous relationships with the aviation industry by the way of manufacturing their products for them, and SNA`s amazing technology that would compliment them as well as the need to have their product manufactured that Luxell has the capability of doing.
One of the most important things that I noticed was the familiarty and ease that these two men spoke together. They spoke the same language in the sense of technology and respected each others opinion the moment it was spoken and built on the others idea by bettering it and being appreciated by the other the moment it was bettered. It was poetry watching the intellectual interaction.
Whatever publicly traded information that has happened in the past stays in the past and has nothing to do with the present company Luxell and here are some of the companies that know that and are current clients.
Lockheed Martin, Saab Grintek, Raytheon, Rheinmetall Defence, Selex, Aerlyper, Denel, General Dynamics Canada, Indra and Littal.
Impressive list indeed. SNA is now honored to be one of them.
As a shareholder in SNA I have full confidence in the abilities demonstrated to me by both companies. We are in very good hands.
BL
