Targray Company History

1980s: Laying the Foundation for a Global Enterprise

Long before founding Targray, Thomas Richardson showed a passion for technology and a mind for entrepreneurship. After earning his engineering degree from Dalhousie University in 1959, he accepts a job with Montreal-based mining company and metals manufacturer Alcan, before moving to a similar position at Noranda Mining. In the 1970s, Richardson is offered a management position at engineering firm SNC. He goes on to work for 11 years at the company, lending his engineering and management expertise to large-scale infrastructure projects around the world.

In the mid 1980s, the compact disc starts gaining momentum with mainstream audiences, and manufacturers struggle to meet the growth in demand. Richardson is approached by a local CD manufacturer for mastering services. Before long, business has grown beyond the confines of his home office, prompting him to lease out office space and incorporate his company under the name Targray Technology International Inc.

1987 | Thomas Richardson begins supplying CD mastering materials out of his home office in Montreal.
1989 |  Richardson incorporates his business as Targray Technology International Inc

Targray founder Tom Richardson speaks with a client from his home office in Montreal, Canada. (1987)

1990s: The Golden Age of the Compact Disc


In the early 1990s, Targray transitions from a small business focused on a handful of optical disc products, to a mid-sized company with one of the most complete product lines in the CD manufacturing sector. Offering everything from mastering and replication materials to printing and packaging solutions, Targray quickly becomes a key player within the industry, securing successful supply and distribution partnerships with market leaders including Philips, Dow Plastics, and Entegris.

In 1998, Targray relocates its headquarters to a significantly larger facility in Pointe Claire, Quebec, and begins to expand internationally with the opening of sales offices in the Netherlands, Hong Kong and California. By the end of the decade, The company has established itself as one of the optical media industry’s leading international distributors.

1993 Targray partners with Dutch giant Philips to supply glass substrates for mastering.

1997 |  Targray and Dow Plastics enter distribution partnership for Dow Polycarbonate.

1998 |  Targray begins expansion with opening of offices in U.S., Europe, and China.

2000s: Accelerated Growth and Diversification

Faced with the prospect of declining demand in the optical media industry, Targray begins to diversify its business activities in the early 2000s. In 2005, it launches the Targray Solar Division, which supplies raw materials and consumables to the burgeoning international photovoltaic manufacturing sector.

Building on the customer-focused business principles that helped it become a compact disc industry leader, the Solar Division is quick to find success in the market, establishing itself as one of the largest PV material distributors outside of mainland China, with annual sales >100 million CAD from 2008 onwards.

In 2007, the Targray Board of Directors selects long-time VP Andrew Richardson to succeed his father Thomas in the role of President. Shortly thereafter, the company moves into its new Global Headquarters in the city of Kirkland. Custom-built to meet Targray’s organizational requirements, the new location provides a state-of-the-art worklplace environment for up to 100 full-time employees and a 50,000 square foot warehouse facility.

2003 | Targray opens 7 international sales locations over a two-year period.

2005 | Establishment of Targray Solar Division.

2006 | Profit Magazine identifies Targray as one of the fastest-growing companies in Canada from 2001-2005.

2007 | Targray Board of Directors elects new President & CEO, Andrew Richardson.

2008 | Targray moves into new World Headquarters in Kirkland, Quebec, Canada.

Profit Magazine identified Targray as one of Canada’s fastest-growing companies. (2006)

2010s: Becoming a Global Leader in Renewables


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 rapidly-growing clean technology sectors.

Elevated by the strong performance of its new Business Divisions (Battery and Biofuels), Targray achieves over 500 million CAD in sales in 2016, establishing itself as one of the world’s largest international commodity companies focused on the renewable energy sector.

In 2019, Targray opens a biodiesel trading desk in Geneva, Switzerland and a biofuel blending & storage terminal in Antwerp, Belgium. That same year, the company makes its debut appearance on the FP500, Financial Post’s ranking of the 500 largest corporations in Canada by revenue.

2010 | Establishment of Targray Battery Division.

2012 | Establishment of Targray Biofuels Division.

2014 | Targray begins marketing and distributing physical biodiesel in California.

2017 | Targray selected for SCALE.AI, a 950M Canadian innovation consortium.

2018 | Biofuels Division announces plans for European expansion.

2019 | Debut appearance on Financial Post’s FP500 corporate rankings.

2019 | Establishment of Targray Refined Products Division.

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