When he was 22, Lonny Thiessen started Western Manufacturing, a company that builds oilfield tanks, with a $1,000 investment. He launched it in 2008 – right as the market tanked and profit disappeared from the energy industry. For a while he had one customer. About three years later, though, Thiessen has made up for that. Last year Western Manufacturing’s revenues were above $30 million. Thiessen’s secret has been outsourcing and keeping in-house costs to the bare minimum. He’s also taken on long-term contracts for huge oil tanks to even out the peaks and valleys of the boom-bust energy industry.
Lonny Thiessen: Alberta's 50 Most Influential People 2014
Takeaway: A look at Lonny Thiessen.