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IW Business Bulletin – July 8, 2022

Brandt opening new facility, adding jobs

The Brandt Group of Companies (Brandt) announced on July 5 that the company will opening a new utility trailer manufacturing facility in Moose Jaw, Sask. Brandt expects to see production begin in late summer, creating up to 200 jobs over the next three years.

“Brandt is very excited to become an active member of the Moose Jaw business community and we will be utilizing local contractors to prepare the facility for production,” says Murray Yeager, Brandt’s vice president, manufacturing. “Later, when the upgrades are complete, we will employ local vendors for everything from supplies and janitorial services to maintenance and snow removal.”

Hiring has begun for the new facility located in the city’s industrial park.

EMP Metals acquires new well

B.C.-based EMP Metals announced on July 5 that it acquired a lithium test well in the Tyvan area of southeast Saskatchewan from EMP subsidiary Hub City Lithium Corp. (HCL) and Epping Energy Inc. of Calgary, Alta. Two days later, the company reported it had begun work to re-enter the well for lithium testing.

“We are pleased to be underway with testing this new well. Our strategy of low-cost acquisition and re-entry of existing well bores continues to be successful. This new well is located in a completely separate area from our successful test well at Mansur and we are confident this will be a significant addition to our growing lithium resource,” said Rob Gamley, CEO of EMP. “The existing infrastructure within our permit areas and the Government of Saskatchewan’s support for critical minerals projects presents many distinct advantages allowing us to be optimistic for a quick to production scenario compared to other regions.”

StoneRidge Insurance Brokers partners with Knight Archer Insurance

SIB Corp., known as StoneRidge Insurance Brokers, announced on July 8 that it is now in a partnership with Knight Archer Insurance. Knight Archer, based in Regina, has 17 insurance offices in Manitoba, Saskatchewan and Alberta.

“This investment in Knight Archer is a significant step in growing our national presence across Canada,” said Ted Puccini, president and CEO of SIB. “Knight Archer is a leading independent insurance brokerage and a highly regarded brand with an established presence in three western provinces. Tracy Archer and her team, immediately become an integral part of our platform and a catalyst for further growth in western Canada.”

Knight Archer’s CEO, Tracey Archer, will remain with the company as president and CEO of the company, and also become president of SIB’s western Canadian operations.

“Partnering with SIB creates significant growth opportunity for Knight Archer,” said Tracy Archer. “Not only will we gain access to more products, markets and resources, we are partnering with an organization that shares the same focus on serving customers with excellence while pursuing rapid, value-generating growth. Further, the SIB partnership provided our family with a solution to succession, while offering us the ability to continue operating the business in a true partnership.”

ISC appoints head for ERS subsidiary

Information Services Corp. (ISC) has appointed Susan Bowman as the head of Enterprise Registry Solutions Limited (ERS), a subsidiary of ISC. ISC says that ERS is “expected to enhance its business development, growth, and performance as well as elevate the development of new registry and registry related products and services” under Bowman’s leadership.

“I am very pleased to welcome Susan to the team. This appointment is further to our announcement earlier in the year about leadership changes,” said Shawn Peters, ISC’s president and CEO. “With this step now complete, I would like to thank Loren Cisyk for his leadership of ERS and look forward to Loren being able to fully focus on the strategic delivery of ISC’s enterprise technology infrastructure, including cyber security.”

Bowman replaces Loren Cisyk, who will continue in his role as ISC’s executive vice president of technology.

SaskTel, SaskPower, SaskEnergy and SGI release annual reports

SaskTel, SaskPower, SaskEnergy and SGI released their 2021-22 annual reports this week. Highlights included:

  • SaskTel’s net income was $104.4 million,  with operating revenues of $1,300.9 million. The company also spent $465.1 million in capital expenditures.
  • SaskPower’s net income was $11 million for 2021-22, a substantial decrease from $160 million a year earlier. The decrease is due to rising costs for fuel and purchased power. SaskPower also spent $385 million on  generation, transmission and distribution infrastructure, and $490 million on new generation facilities and grid capacity expansion.
  • SaskEnergy saw net income of $82 million, an increase from $23 million in the previous fiscal year. The increase is due to a one-time accounting adjustment because SaskEnergy was awarded the title to its Regina head office after years of litigation.
  • SGI reported $81.8 million in net income, with $52.1 million in underwriting profit and $32.3 million in investment earnings. The company also provided $89.3 million in rebates to customers in 2021-22.

“The Crown sector continued to deliver value to Saskatchewan people and communities through programs and services,” Crown Investments Corporation (CIC) Minister Don Morgan said. “With a renewed focus on public policy programs such as SaskTel’s rural wireless program, SaskPower’s Community Rink Program and SaskEnergy’s Residential Equipment Replacement Rebate, Crown corporations are an integral part of Saskatchewan’s growth and success.”

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