Business Examiner Victoria - March 2019

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MARCH 2019

» BOATING & MARINE

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VICTORIA Bayshore Home Health Wins Business Excellence Award, Launches Comox Valley Service

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Victoria Manufacturers Set the World on Fire Sherwood Industries Celebrates 30th Anniversary

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VICTORIA Third Generation Takes on Key Roles at Wilson’s Group

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INDEX News Update

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Digital 5 Greater Victoria

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West Shore

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Saanich Peninsula

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Who is Suing Whom 18 Movers and Shakers 19 Opinion 22 Contact us: 1-866-758-2684

OUR 30 YEAR TH

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IC T OR I A - Sherwood Industries is continuing its hot streak. This June will mark three decades since the locally owned and operated manufacturing company began producing its internationally renowned Enviro brand wood stoves, pellet stoves, and gas fireplaces. Founded by Thomas O’Connor, Martin O’Connor, and Cherbel Yousief, the company has developed a reputation for luxury products, shipping Enviro fireplaces around the globe. “A ll th ree of us came from different backgrounds,” says Yousief, who remains one of the company’s co-owners. “I have a background in finance, marketing, and sales, while Tom and Martin [brothers] had expertise in engineering, manufacturing, and production. SEE SHERWOOD INDUSTRIES |  PAGE 8

Stuart O’Connor and Cherbel Yousief are owners of Sherwood Industries

Global Tech Leaders Continue Operations from Victoria Head Office String of Acquisitions Helps Vecima Networks Stay at Forefront of Industry

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ICTORIA - Over 30 years since its beginnings, tech leaders Vecima Networks Inc. have found a home in Victoria. Founded in 1988, Vecima has grown to become a globally recognized leader in technology solutions for network service providers. “The company was founded in Saskatoon by Dr. Surinder Kumar under the name Wavecom Electronics,” says Head of Corporate Communications Anne-Marie DeSouza. “Our first commercial

product was a line of modulators for the commercial television industry. We were pioneers in servicing the emerging internet and TV market, and at one point, over half of the world’s high-speed internet was running through Wavecom products.” Just over 20 years ago, Vecima relocated its head office to Victoria, and in 2005, the company went public and rebranded as Vecima Networks. It has now grown to house several hundred employees with locations in

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Burnaby, Atlanta, Tokyo, and a major research and development and manufacturing facility in Saskatoon. “Even though we keep a lower profile in the community, we are one of the more sizeable tech companies out there, with a market cap of close to a quarter billion dollars,” says DeSouza. “Many people are surprised to find out that a Victoria-based tech company has such a sizeable footprint.” T hou g h mos t of Ve ci m a’s clientele are global blue chip

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companies, the company works to build into their own community through participation in the chamber, sponsoring events, participating on executive forum panels, and supporting various charities. Today, the company is led by CEO Sumit Kumar, who is Surinder’s son, and CFO John Hanna. Both leaders bring extensive experience to the table. Sumit has been with Vecima for nearly 25 SEE VECIMA NETWORKS INC. |  PAGE 13


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