November 28, 2011

Sarnia-Lambton Business Development Corporation, Sarnia

In 1991, after 17 successful yearsworking in Sarnia’s petro-chemical industry, Mike Banovsky became a key shareholder and president of Tuberate Ltd.  Mike’s vision was to expand the company’s market:  they moved from being a supplier to a firm that designs, manufactures and repairs heat exchange equipment and pressure vessels.

Soon, Mike approached the SLBDC for financing to expand their business premises to accommodate increased volume and size of products.  The market expanded to Asia and the U.S., and sales grew from $500,000 to over $6 million in 6 years, while its workforce grew from four employees to over 70.

Tuberate amalgamated with Chemfab Industries in 1998, with Mike continuing as President.  The combined company grew to 150 employees and sales of $50 million, until the boiler and high pressure vessel shop was acquired by a multi-national competitor that has retained this local operation.

Mike became a Director with SLBDC in 1995 and served until 2006; after a brief hiatus, he returned in 2008-2010. 

Photo:   Mike Banovsky