PTW Canada reports good progress in 2022 and a stronger outlook for 2023
PTW Canada has made noticeable growth in 2022 which will further propel operations in 2023 in each of our respective business areas (Canada Branch, Canada Construction and Structures).
Our Canadian Branch network was exceptionally busy in 2022 with our workload projected to increase in 2023. Our Area Managers in all regions were able to manage an increasing workload throughout 2022 and attract new talent despite a competitive labour market.
Our Area Managers played an integral role in helping PTW attain this additional work, while developing and maintaining lasting relationships with customers. The Branches won a few significant long-term maintenance contracts, many small cap projects, in addition to maintaining the majority of our existing work, which is expected to create 160 jobs.
The Construction team has had continued success in all markets, including Oil and Gas, Mining, Wind and Solar. In Q2 2022, the business successfully changed its strategy and has been implementing them with positive results in the last half of 2022.
While 2022 was one of our more challenging years due to the competitive market, schedule delays and procurement constraints, our team dug deep to overcome these obstacles and successfully recruited and retained strong personnel to execute projects through 2022 and into 2023.
PTW began to increase its construction backlog numbers with a handful of projects continuing into 2023, with 200 jobs expected to be created.
Our Structures group has a healthy backlog of structural steel and metal building projects to be completed in 2023, with improved profit margins expected. Revenue is projected to meet 2023 targets as work continues to be awarded. Our workforce increased in 2022 to help meet client deliverables, and prepare PTW for the ongoing workload from our existing and new client base with 2023 projected to create 25 jobs.
Congratulations to our teams for their successes and to everyone who helped achieve the above results.