1980s: From Humble Beginnings
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In the mid 1980s, the compact disc industry is experiencing major growth and manufacturers are struggling to meet demand for their product. Montreal-based engineer Thomas Richardson – a self-employed technology consultant operating under the name Technology Services International – is approached by a local CD manufacturer for mastering services.
Business quickly grows beyond the confines of Richardson’s home office. In the summer of 1989, he leases out office space and incorporate his company Targray Technology International Inc. The name “Targray” is a portmanteau of Tom’s initials and his mother’s maiden name, Gray. |
1990s: Rise to the Top of the Optical Media Industry
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Shortly after becoming incorporated, Targray moves into an office space located in Pointe Claire, Quebec. The company’s line of optical media products now includes glass mastering services and CD jewel boxes. In the mid-90s, the growing material supplier begins distributing a line of sputtering targets for optical disc-makers. Within five years, approximately 50% of optical discs worldwide are being sputtered using Targray materials. |
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In 1997, Targray enters a distribution agreement with Dow to distribute the US chemical manufacturer’s cutting-edge polycarbonate materials. Just one year later, it relocates its corporate headquarters to a significantly larger facility in Pointe-Claire, and begins a series of international branch expansions with the opening of a sales office in Dordrecht, Netherlands. In 1999, two additional international locations are added: Hong Kong and Laguna Niguel, California. |
2000-2005: Continued Expansion & Diversification
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The 2000-2004 period is marked by a wave of international expansions, with Targray opening sales offices in Taiwan, India, England and the Czech Republic. In 2005, Targray begins to diversify its business activities with the establishment of the Solar Division, which supplies solar cell materials to the burgeoning photovoltaics industry. That same year, the company opens international sales offices in Wroclaw, Poland; Guadalajara, Mexico; and Wilhelmsfeld, Germany. |
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In 2006, Profit Magazine announces that Targray has been named to the 18th edition of the Profit 100 List. Profit 100 is an annual publication that features the 100 fastest growing companies in Canada over the course of the five previous years. Shortly after the Profit Magazine announcement, Targray is listed by Canadian French-language news magazine L’Actualité as the 9th fastest growing company in Quebec between 2000 and 2005. |
2006-2010: Reaching New Heights
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Between 2006 and 2008, Targray opens sales offices in Shenzhen & Shanghai, China; Nara, Japan; Milan, Italy; and Kunpo City, Korea. In 2008, Targray’s solar division surpasses its multi million dollar optical media business in total sales. In 2009, Targray is named one of Canada’s fastest-growing firms in PROFIT Magazine’s PROFIT 100. This marks the company’s second appearance on the list in 5 years. l’Actualité also includes Targray on its list for the 2nd time. |
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In 2007, the Targray executive board elects long-time VP Andrew Richardson as Company President. Shortly thereafter, the company’s global headquarters are moved to a state-of-the-art, custom-designed facility in the city of Kirkland, on the island of Montreal. The new location provides a significantly upgraded office environment that includes a 100-person auditorium, an on-site cafeteria, and a fully-equipped gymnasium. |
2011-2015: Fostering the Growth of New Industries
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With the establishment of the Solar division in 2005, Targray lays the foundation for its new business model: Filling the missing supply chain links in the rapidly-growing renewable energy sector. The company’s new approach serves as the basis for the establishment of the Battery and Biofuels divisions, in 2010 and 2012, respectively. Targray’s international trade activities have grown substantially since its entry into the solar photovoltaics market. In 2012, the company is awarded the HSBC Bank Award for Leadership in International Trade in Asia. |
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In 2015, elevated by the performance of the solar, battery & biofuels divisions, Targray achieves record revenues and establishes itself as a leading international supplier to the renewable energy industry. It carries the rare distinction of being actively involved in 3 segments of the global renewables market. |
2016- : Becoming a Global Leader in Renewables
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In October 2016, Targray’s long-time president Andrew Richardson is named Quebec’s EY Entrepreneur of the Year in the manufacturing category. The prestigious award, handed out each year by Ernst & Young, highlights Targray’s successful decade-long transformation into a |