Syncrude hits $2B milestone with Aboriginal business
Mar 17, 2014
Syncrude has reached a major milestone by passing the $2-billion mark in business conducted with Aboriginal-owned companies.
Syncrude first began tracking the amount of goods and services procured from Aboriginal-owned companies in 1992 as part of our commitment to business development in our Aboriginal Relations Program. “Even before we began production in 1978, Syncrude’s founding president Frank Spragins insisted the wealth created from oil sands development should benefit Aboriginal communities in the region,” said Syncrude President and CEO Scott Sullivan. “We have established excellent long-term partnerships with Aboriginal-owned contractors, who have delivered high quality goods and services safely.”
The $1-billion threshold for business conducted between Syncrude and Aboriginal-owned companies was crossed in 2006. “The fact it took half the time to reach $2 billion shows how Aboriginal-owned businesses have grown along with Syncrude,” Scott said. “It shows they can compete with anyone in the market.”
Syncrude does business with more than 25 Aboriginal-owned companies based in Wood Buffalo and is a founding member of the Northeastern Alberta Aboriginal Business Association (NAABA). Seeing Syncrude pass the $2-billion mark with Aboriginal-owned businesses pleased NAABA President Mitch Mercredi. “I would like to congratulate Syncrude on achieving this milestone. Syncrude has been supporting NAABA since its inception in 1993 through not only financial support but by giving our members the opportunity at contracts,” said Mitch. “It is good to see our local Aboriginal businesses getting work. We look forward to Syncrude’s continued support of the Aboriginal business community in the future.”
Will Gibson, Syncrude, 780-790-6202