The U. S. SEC 12g exemption number is: 82-3378
Request Investor Information Online, click here.
View Current Quote and Chart
Listed in Standard & Poor's
Corporate Head Office 505 - 5600 Parkwood Way Richmond, B. C., Canada V6V 2M2
Telephone No: (604) 244-9323 Toll Free: (800) 755-2528 Fax No.: (604) 270-2138 Shareholder Investor Relations James L. Swanson -Chairman
CON-SPACE AND ITS MARKET
CONFINED SPACE MARKET
Work within Confined Spaces has been a universal problem for several decades. It has resulted in the loss of many lives and caused serious injury to workers worldwide. Hundreds of times each year, a worker's life ends in a storage tank, bin, furnace, boiler, silo or tunnel. Confined Spaces like these are deadly, not only to workers but also to those who attempt rescue. Single accidents often turn into multiple-death catastrophes. Sixty percent of the victims in Confined Space accidents are co-workers or others who attempt rescue. On the average 1.6 rescuers die for each worker who loses his or her life in a Confined Space. Two thirds of all such deaths are caused by dangerous atmospheres, and one third involves toxic gas or oxygen deficiency. Often the danger is not present at the time of entry. Obviously, the continuous monitoring of a worker while inside a Confined Space is essential to his or her safety. According to recent US Federal statistics, within the United States alone there are 238,853 establishments, which contain a total of 4,844,849 Permit Required Confined Spaces. In addition, there are millions of Non-Permit Required Confined Spaces, all of which must be entered and worked in from time to time. The problems of Confined Space entry affect 37 different industries, including all Municipal Water and Sewer operations. Rescue teams for Confined Space accident victims, mostly from Fire Departments, also face the same problems as the entrant being rescued. In April 1993, the United States Government enacted regulations aimed at reducing the death and serious injury rate of Confined Space workers and rescuers. To help with the enforcement of these tough new rules, heavy fines were introduced for non-compliance. Among the regulations is one that requires Confined Space Safety Attendants, located outside the Space, to maintain constant communication between themselves and the entrant(s). Until CON-SPACE, no company had designed and built Communication and Alarm Systems specifically to address these Confined Space and Rescue situations. The founders of CON-SPACE recognized the enormous market potential for specialized equipment and has since designed and built such systems. The market potential in the United States alone is estimated (using US Government statistics) to exceed one billion dollars. Further, Confined Spaces are not unique to the United States. The potential for sales of this product extends to the rest of the civilized world. Consider a few industries with Confined Spaces:
Oil and Gas Refineries Electrical and Power Utilities Nuclear Food Processing Mining Pulp and Paper Airlines Waste Processing Chemical Industry Water and Sewer Military Motor Freight Transportation Steel Fabrication Corrosion removal Tank Inspection and Repair Shipbuilding Rescue
After exhaustive testing to acquire the necessary Intrinsic Safe Approvals, the CON-SPACE specialized communication and alarm systems were successfully introduced to the North American market place in 1992. User reaction has been extremely positive and customers are finding that, apart from the safety and compliance aspects of the CON-SPACE products, they are also saving money by increasing efficiency and productivity through the use of this new equipment.
RADIO ACCESSORY MARKET
The Industrial and Public Safety two-way portable radio market far exceeds $200 Billion. In many cases, two-way radio users experience difficulty in communicating because of ambient noise levels, the necessity of wearing breathing air or gas masks or just the inconvenience of having to hold the radio to communicate when busy at the job. CON-SPACE resolved these and many more problems with the development of the SR65 line of Two-Way Radio Accessories.
These radio accessories attach to the portable radio allowing the user to communicate regardless of the noise environment, bulky protective clothing or breathing apparatus worn. The large Push to Talk button (PTT) can be activated from a remote location on harness straps, lapel or other location, allowing the radio to be secured in a pocket or pouch for virtually hands free communication. The market includes Police, Fire, Rescue, Domestic Preparedness, Municipalities, Military and Industrial. It far exceeds the Confined Space market potential.
CON-SPACE CUSTOMERS The CON-SPACE customer list is growing at an ever-increasing rate with numerous Fortune 500 companies, Fire Departments, Municipalities and the Military now purchasing the different products. More importantly, many of these high profile users have been purchasing at the recommendation of their peers.
A few of our Customers:
Proctor and Gamble Duke Power Baltimore Gas & Electric British Customs City of North Bay British Navy City of Los Angeles Boeing New Zealand Airforce Dupont Chevron Oil US Marines North-West Airlines United Airlines Lockheed Numerous Fire Department Westcoast Energy US Airforce British Airways Coors Westinghouse Hanford US Army TRW Inc. California Edison City of Chicago B.F. Goodrich Aerospace US Navy
All Militaries have a parallel market to the civilian counterpart in terms of sewers, storage tanks, silos, aircraft fuel tanks, etc. The Military has numerous other special uses for CON-SPACE products and as a result, the company's equipment has been officially accepted by the US, Canadian, New Zealand and British Military. Various items have even been assigned National Stock Number (NSN). The assignment of an NSN makes the products accessible and easily purchased by all US and Canadian Military establishments as well as other NATO Forces.
OTHER
CON-SPACE products were designed with the requirements of Intrinsic Safety in mind. Most items now have Intrinsic Safe Approvals for the United States, Canada, Europe and those other countries that accept these standards. These safety approval ratings are not only a requirement for many of the applications these products are used for, they greatly increase the overall market potential for the company's products. CON-SPACE is systematically addressing each part of this potential by continually building the sales and support organization required.
Products are marketed through an extensive distribution network started in 1992 and now having in excess of 1000 distributors marketing CON-SPACE products throughout North America. There are also a number of country distributors scattered throughout the world serving markets such as: Japan, Taiwan, Hong Kong, Australia, New Zealand, Brazil, Venezuela, and Italy.
CON-SPACE has its own facilities located in Richmond, BC, Canada; Blaine Washington, USA; and Kent, England. Richmond is Head Office. Further, CON-SPACE has an in-depth and ongoing Research and Development program to continue developing new and unique products to serve the above industries.
Though CON-SPACE is still a young company (incorporated in 1991 and publicly listed on the Vancouver Stock Exchange in 1992, trading symbol VSE:CCB) it has accomplished a lot during its short existence:
The development of various specialized products The establishment of a manufacturing facility Obtained Intrinsic Safe Approvals for Canada, the United States and Europe Full Military approval and National Stock Numbers Mining Safety approval Establishment of a distribution network throughout North America Distribution into numerous locations around the world A reputation for Quality and Service Recognition as the World Leader in its field Successful Sales Growth, averaging 34% increase per year And Profitability (Also note the News Release section)
With an unlimited market potential and being the World Leader in its field of expertise, CON-SPACE is an excellent prospect for a long-term investment. CON-SPACE expects substantial growth during the foreseeable future. Growth that will return ever-increasing profits and earnings per share.
Home | Products | Confined Space | Equipment Applications About CON-SPACE | Contact Us | Site Map | Links