How Gregory Aziz Changed the Steel Car Industry

Even when National Steel Car was in its prime time, it did not perform as well as what it currently is performing. There were many ways for companies to make a difference in the rail industry. Instead of Gregory Aziz trying to do the same things as other companies, he chose to go his own way. It helped him make the right choices for National Steel Car and is the exact reason he knew what he would be capable of doing when he was running the company in a better way. It also allowed him the chance to make sure his company was successful.

 

Even though James Aziz had been a business person for years, he did not have any type of experience as someone who was able to work in the rail industry. For this reason, purchasing National Steel Car was a huge risk for Gregory Aziz. He knew it would be worth it, though, because he was going to use his business skills to improve the company. Without his help, National Steel Car would have failed, and it would have been a company that most people were unable to recognize because of the complete failure.

 

When Gregory J Aziz first purchased National Steel Car, there was a lot of work he had to do. He had to make sure the company was going to survive the tumultuous time they were going through. He took the steps necessary to prepare the company for the changes and started working on how he was going to improve it in the future. By taking his time and taking the appropriate steps, Gregory Aziz was prepared to have a successful company in the future. Part of what he was doing would give him the opportunity to make money from the company.

 

National Steel Car grew under Greg Aziz. He knew just what he needed to do to make the company profitable. He worked hard to come up with ideas to show people they could use National Steel Car. He made valuable connections with other companies, so they would continue using National Steel Car. In addition, Greg Aziz secured the company, so it would not have to deal with an almost-failure again in the future. The company received TTX SECO award for quality, for over a decade. ISO have recognized the growth of the company awarding it the ISO 9001:2008 certification. Gregory Aziz knew that by doing this he was giving the company a chance at success but also himself a chance at success through the steel car relationships he was building.

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Penn West Petroleum Ltd. Renamed Obsidian Energy

Obsidian Energy is a Canadian oil and natural gas producer with a daily production capacity of about 30,000 BOE. The company’s head offices are in Calgary, Alberta. The company was previously known as Penn West Petroleum Ltd. until June 2017 when the shareholders agreed on the change of name to Obsidian Energy.

 

Management

 

The company is headed by David L. French who acts as the president and CEO. French previously worked at Bankers Petroleum Ltd. as the president and CEO. David Hendry is the company’s chief financial officer while Tony Berthelet serves as the vice president, development and operations. Andrew Sweertsis the firm’s vice president, production and technical services, while Mark Hodgson serves as the vice president, business development and commercial respectively.

 

Penn West Shareholders Agree on Change of Name to Obsidian Energy

 

On June 25, 2017, 92 percent of Penn West shareholders voted for the adoption of Obsidian Energy as the new company name. According to the company’s CEO Dave French, the name obsidian was considered because of the volcanic glass’s capacity to be “sharpened and honed.”

 

Obsidian’s growth strategy in the next three years will be based on adjusting spending to reflect the changes in oil and gas prices. In the midst of hard economic times, the company has relied on asset sales to cover huge debts. The company also plans to concentrate on four important production areas, down from 30.

 

Besides, there are plans to reduce the wage bill. This will be achieved by reducing the number of employees from 1,400 to around 300. Furthermore, the amount of oil produced in a day will be reduced from 135,000 barrels to approximately 28,000 barrels.

 

Over the years, the company has undergone various important changes. These changes have touched almost every aspect of the company. The company has been redefined regarding its future. As a result of these changes, the Obsidian Energy has become stronger and more productive than ever before. Get More Info Here.

 

Environment and Giving Back to the Society

 

Obsidian Energy is sensitive and concerned about the surrounding communities and the environment. The company’s Community Matters program provides an opportunity for its employees and contractors to interact and communicate freely with the people around. The company also ensures it has met all the required environmental regulations.

 

 

See Also: https://beta.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/penn-west-shareholders-approve-name-change-to-obsidian-energy/article35463586/?ref=http://www.theglobeandmail.com&

Regaining Lost Glory: Obsidian Energy

Obsidian Energy Ltd. is a middle-sized Canadian-based oil and natural gas production firm. It is based in Calgary, Alberta, and was previously known as Penn West Energy Trust, Penn West Petroleum, and Penn West Exploration Ltd. The name change took place in June 2017 as the last step in their transformation.

 

Obsidian Energy officially began a new chapter in their long and illustrious history where they will guide the company on three principals:

Disciplined, commercial, and technical decision making. This will help build and protect the enterprise value.

 

A relentless pursuit of innovation and progress.

Transparent and accountable efforts with partners, shareholders, and communities in which they operate.

 

David French, the President and Chief Executive Officer, stated that due to Obsidian Energy’s strategic positioning with the right assets, a prudent hedging strategy and a healthy balance sheet, the company is well within its means to set a standard for performance even in environments that are lower priced.

 

Obsidian Energy wants to be nothing like the old “Penn West.” Having survived high debt levels as well as an accounting scandal, coming out from of the four-year rollercoaster deserved a fresh start. The lawsuits that were brought about by the accounting scandal were all settled last year, and the net debt was reduced to $384-millioin as of March 31, 2017, compared to the outstanding $3-billion that would have crippled the company in 2013. The asset sales allowed for the debt reduction as well as sharpening its focus to four key production areas, down from 30. Employee count reduced from 1400 to 300. In that same period, the production received a huge cut from 135000 barrels to 28000 barrels.  Get More Info Here to learn more about the company.

 

The future is bright for Obsidian Energy. Tough decisions had to be made. Obsidian Energy is set to regain its former glory without the scandals that graced Penn.

 

Related: https://globalnews.ca/news/3481168/penn-west-proposes-name-change-to-obsidian-energy/

Meet Gregory Aziz, The Go-Getter

National Steel Car is a freight rail car manufacturing company which has been in existence since 1912. However, in 1994, the company was purchased by Gregory Aziz who is the Chief Executive Officer and the president of the company. National Cars Company is based in Ontario in Canada, but it has rolled its services to the United States of America. Since Gregory J. Aziz took control of the company, it has become one of the top brand names in the country and has produced machinery for the trains used in the country. Having run the family business for an extended period, Gregory J. Aziz knows well how to run the company. His family’s firm was involved in food importation from around the world and exporting to markets around Canada and the United States. Click Here For More Info.

After working for a while, Greg Aziz decided to take up other jobs, and that was when he joined the finance sector between late 1980’s and early 1990’s. It was while working in New York at one of the top companies that he made a name for himself and encountered National Steel Cars for the first time. National Steel Cars Company was undergoing a transition, and Gregory Aziz helped the company expand its business to the United States. In 1994 Gregory James Aziz assisted in the purchase of the National Cars from Dofasco and became the Chief Executive Officer and the president. He has since then transformed the company into an award-winning and to the top producer if railroad freight cars in North America. National Cars Company is the only company awarded ISO 9001:2008 and also holds the highest quality award of TTX SECO thanks to the leadership of Greg Aziz.TTX SECO is given to a company that produces high-quality products. For over a decade, National Steel Car has been given this annual award, back to back.

 

Gregory James Aziz believes that all these achievements have come about through the efforts of the whole community and that is the reason the company he has sponsored various Hamilton community-based projects through the company and also his wife. It includes the Salvation Army, the Hamilton Opera, the United Way and Theatre Aquarius among others. The company also hosts all its present and former employees and their families to the annual company’s Christmas party each year. Greg and wife Irene are the sponsors of the most prominent trade fair in Canada, the Royal Agricultural Winter Fair. Related: https://www.behance.net/greg-aziz

 

Gregory Aziz Gives National Steel Car The Impetus To Revive Its Operations

If anyone would be credited for the prosperity recorded by the National Steel Car, then it has to be Gregory Aziz. He is the man responsible for transforming, the over one hundred years old manufacturing giant, into what it is today. Gregory James Aziz serves as the president, CEO and the chairman of National Steel Car. He took over the charge of the company when he bought it from Dofasco in 1994. Since he bought it, he has been responsible for all the operations happening in the corporation that has been very positive. When he took charge, the company was on a route to collapsing, but his shrewdness in business management have saved the day for the manufacturer.

 

Gregory Aziz holds a degree in economics, which he received from the University of Western Ontario. His educational background has played a big role in making the operations of the company successful. As an economist, he holds so much insight on the direction such a company should take especially when reviving its operations. Through his efforts, he has changed the fortunes for the company which is now the biggest railroad freight car manufacturing company in the entire North America. The corporation deals with their design, engineering, and manufacturing. See This Article.

 

When he graduated in 1971, Gregory J Aziz joined Affiliated Foods, a company owned by his family in Ontario. After serving for some time and changing the fortunes of the food company, he moved to New York where he worked in several investment banks as an advisor on financial and investment management. While working in the banking sector, he took note of the opportunities that were available in various industries. Greg Aziz amassed a lot of wealth and experience that he would apply when he finally owned his business. His time in the investment sector coupled with the experience he gained from working at Affiliated Foods, gave him the much-needed impetus to operate his company.

 

In 1994, he finally purchased his company in the name of National Steel Car. National Steel Car was performing poorly when he bought it. Greg Aziz intended to make changes that would transform the manufacturing potential of the corporation. The company aligned itself for performance by investing in the areas that mattered the most. To Greg, the most important thing to do was to manufacture products of the highest quality possible. This would be the selling point of the company to the clients. True to his word, two years after he took over, National Steel Car received the award for the best quality known as TTX SECO.

Related Article: http://gregaziz1.strikingly.com/#about-greg-aziz