From an office building in Portland, Oregon, Ken Thompson conveys a message that contains caution overlapped with optimism.
Thompson, president and chief executive officer of Isobord Enterprises, worries that people’s expectations of the company are inflated. He defies a popular perception that Isobord is an industry that converts straw into gold.
The company’s $150 million plant at Elie, Man., has swung into production, employing 100 full-time workers and almost an equal number of seasonal workers. But Thompson said the flagship plant is still undergoing fine-tuning, and it’s too soon to suggest that buyers will snap up all of the finished product – a fibreboard manufactured from wheat straw.
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“I will not understate or overstate our position,” Thompson said. “I’m not going to do that.”
He noted that the company’s expectations for the product and the marketplace are on target. Many orders have come from manufacturers wanting to learn more about the fibreboard’s qualities.
However, the tale will be told according to how many customers return to place larger orders for the product. Thompson said Isobord has started to attract repeat customers since the Elie plant began production last year.
“Tentatively, we’re seeing some very good results.”
Isobord plans to eventually build five plants in North America. Thompson said the company will likely announce the second and third locations in late summer.
It will not announce those locations until it is ready to turn sod and pour concrete.
Proximity to a ready supply of straw will be important, but things such as proximity to market will also come into play.
Thompson was clear about Isobord’s over-riding agenda – to make money for the company’s shareholders, a priority that comes before bringing industry to a rural community or putting money into farmers’ pockets.
