Targray Company History
Laying the Foundation for a Global Enterprise
Long before founding Targray, Tom Richardson shows a passion for technology and a mind for entrepreneurship. Upon earning his engineering degree from Dalhousie University in 1959, he accepts a job with Montreal-based mining and metals company Alcan.
Within a few years, Richardson is offered a management position with Quebec engineering giant 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, compact disc manufacturers are struggling to meet the explosive growth in demand for their technology. Richardson is approached by a local CD manufacturer for mastering materials & services. Before long, business has grown beyond the confines of his home office, prompting him to lease out office space and incorporate his business.
1987 | Tom Richardson begins supplying CD mastering materials out of his home office.
1989 | Richardson incorporates under the name Targray Technology International Inc.
Targray founder Tom Richardson working out of his home office in Montreal, Canada. (1987)
Market Leadership in Optical Media
In the 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 supplier to the industry, securing distribution partnerships with market leaders Philips and Dow Plastics.
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 California, Netherlands and China. By the end of the decade, The company has established itself as one of the industry’s leading distributors.
1993 | Targray partners with Philips to supply glass substrates for CD mastering.
1997 | Targray and Dow Plastics enter a polycarbonate distribution partnership.
1998 | Targray expands internationally with offices in the U.S., Europe, and China.
Accelerating Growth Through 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 of >100 million from 2008 onwards.
In 2007, the Targray Board of Directors selects long-time VP Andrew Richardson to succeed his father Tom in the role of President. Shortly thereafter, the company moves into its new Global Headquarters in the city of Kirkland, Quebec.
2003 | Targray opens 7 international sales locations over a two-year period.
2005 | Establishment of Targray Solar Division.
2006 | Profit Magazine names Targray one of the fastest-growing companies in Canada.
2007 | Targray Board of Directors elects new President & CEO, Andrew Richardson.
2008 | Targray moves into new World Headquarters in Kirkland, Quebec, Canada.
Profit Magazine identifies Targray as one of Canada’s fastest-growing companies. (2006)
Emerging as a Key Player in Renewables
With the launch of the Battery and Biofuels Divisions in the early 2010s, Targray lays the foundation for its new business model: Filling the missing supply chain links in rapidly-growing sustainable industries.
Elevated by the strong performance of its renewable energy businesses, Targray achieves over 500M 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 and a biofuel blending & storage terminal in Antwerp. The company also makes its debut appearance on the FP500, Financial Post’s ranking of the 500 largest Canadian firms by revenue.
2010 | Establishment of Targray Battery Division.
2012 | Establishment of Targray Biofuels Division.
2014 | Targray begins marketing and distributing physical biodiesel in California.
2018 | Biofuels Division announces plans for European expansion.
2019 | Debut appearance on Financial Post’s FP500 corporate rankings.
Global Leadership in Sustainable Commodities
The early 2020s see Targray emerge as a leading global provider of commodities for sustainability-focused industries, with annual sales in the billions of dollars.
Buoyed by the sustained success of its Solar, Battery and Renewable Fuel and Feedstock businesses, the company in 2021 launches its Pulses and Cotton trading desks.
In 2022, Targray launches its Environmental Commodities business, which engages in the trading and supply of carbon credits, offsets and renewable energy certificates for compliance and voluntary carbon markets around the world. The company’s growth is further supported by the opening of a state-of-the-art business center in India.
2021 | Establishment of Targray Cotton and Pulses Divisions.
2021 | Targray opens a regional office in Dubai, UAE.
2022 | Targray opens a business center in Gurugram, India.
2022 | Establishment of Targray Environmental Commodities Division.
2023 | Targray unveils new corporate branding.
New corporate branding highlights Targray’s focus on sustainability and growth. (2023)