| Business 101 teaches entrepreneurs to think
global and act local. But suppose a more advanced course
taught students to accomplish the reverse by thinking locally
and acting globally. Suppose again that this course's professor
is a rising CEO in an oft-neglected industry.
In this hypothetical class,
Michael Bryant could finally wax poetic about road emulsions
and
water-based
solvents to explain how repairing a city's skin is more than
a Band-Aid solution.
Bryant and his staff of 12 at Matrex
Company prefer to stare down the potholes, cracked subway
tracks and other urban scabs with a technology so impressive
that
the Port Perry company is fielding orders from the United
States and the Middle East.
The Permanent Cold Patch sounds like a
painfully icy bandage, but it is a road's best friend. Tougher
than asphalt and climate-friendly, the patch is poured into
any crack, cut or pothole in a road and begins to set automatically.

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Tyler Anderson, Business
Edge
Matrex CEO Michael Bryant has turned the Permanent
Cold Patch into a solution for road-surface care
around the world.
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A
co-polymer, the patch's secret ingredient, quickens
the setting process and requires no rollers or extra
manpower. In short, the patch saves money and allows
transportation to continue flowing, unlike some cold
patches that only last 18 months. No wonder almost
every continent is hungry for Matrex products and Bryant
couldn't be happier - or busier.
"We're shipping to Atlanta, Afghanistan," said
Bryant before a trip to Argentina. "It's exciting to
see global acceptance of a company founded on a small
idea."
Think local. That was how a small
idea took root. Bryant found top Canadian scientists
to develop a bituminous aggregate mixture that bonded
permanently, evolving into a polymer-modified asphalt. |
Small Ontario
townships such as Scucog were the first clients. Word-of-mouth
sparked long-term contracts
such as the agreement between Matrex and the Toronto Transit
Commission. Cold Patch is the TTC's "product of choice," Bryant
says, when winter cold creates fissures in subway tracks.
Financial success attracted media attention
and Profit Magazine listed Matrex No. 38 on its 2004 Top
100 Fastest-Growing Companies. One key stat is a clue to
Matrex's progress: Revenue ballooned by more than 1,700 per
cent between 1998 and 2003, growing to about $8 million from
roughly $440,000.
"We're up against big companies, but we're
getting sales from our website, from our international trips," Bryant
says. "We think outside the box and make sure we deal with
one customer at a time so they feel welcome."
Matrex has won over St. Thomas, a city
of 35,000 south of London. Roads foreman Roy Orchard, whose
crews have been using Matrex products for three years, says
pothole problems prompted him to use Cold Patch.
"My guys just get in there, fill up the
hole and leave, before they even block traffic," Orchard
says.
Highway
repair crews also appreciate Matrex's contribution in the
field.
Southford Aggregates, which maintains
roads on Highways 401 and 404, wrote Bryant a thank-you letter: "Matrex
has withstood the heavy traffic demands very well, while
allowing us to repair the damaged pavement expeditiously."
The local touch helps. But so does expansion
and Matrex has been setting its sights overseas for several
years. The U.S. Air Force uses Cold Patch to repair landing
strips in Iraq and Afghanistan. Recently, Bryant spoke to
manufacturers in Southeast Asia about road repairs, although
it wasn't the tsunami that took Matrex there. They already
had been working in Bangkok for 18 months.
Act global. Pierre Trudeau taught Bryant
that pearl and it wasn't just a business strategy. Bryant
appreciates his fulfilling projects, ranging from smoothing
roads in Kabul to filling asphalt scars in Brazil. Matrex
also supplies countries with a concrete repair mix known
as Pozzolanic 45, furthering bolstering the company's international
appeal.
Field support from Export Development Canada
also smoothed any bumps in Matrex's ascent.
Bryant appreciates "a
financial institution that understands the global market.”
After all, he says, Matrex is not just
working in one country.
On any given day, Bryant could be leading
a seminar in eastern Europe, where he sells $200,000 worth
of Cold Patch after a little one-on-one chat (true story).
Or Bryant could be in Port Perry manning an urgent phone
call at 5 a.m. that demands materials to repair a runway
(also true). Working 75 hours a week is only a symptom of
Bryant's dedication to making this road-emulsion business
a global leader, since it is already a hit in Canada.
And how does Matrex set itself apart
from established competitors?
"I credit my people," Bryant says, almost
too predictably, but then he rushes to justify. " I've gone
out to find retired experts to work as consultants. I've
surrounded the company with highly qualified people."
Stressing
innovation also carries a footnote: Social responsibility,
he believes. "We're helping the environment
with our products," Bryant says, explaining how a new alternative
to roadside salt could replace the more corrosive variety
used today.
A non-corrosive liquid de-icer, under trial
in North Wellington about 100 kilometres west of Kingston,
aims to reduce water pollution and work effectively in any
temperature.
Coupled
with motives that sound too altruistic to be true is Bryant's
commitment to charity work. Contributing
to UNICEF and World Vision made him realize "that there is
an incredible need for all of us to understand and come to
help those so unfortunate."
After visits to Africa and Russia, Bryant
understood that need so thoroughly he tried to set up financing
for Third World countries desperate for HIV medication. Although
the drug companies rejected Bryant's idea, a lesson emerged:
A company can start a chain reaction, one that makes changes
incrementally.
Matrex has already won that honour. Going
global is paying off and it is only looking better for the
nine-year-old company.
Bryant tactfully
talks about going public: "I
envision the company to be so well-managed and well-financed
that it will be in a public trading situation shortly."
Bryant hopes
his company will be attractive to investors because of
Matrex's advantage in the transport
industry. "Roads are important to getting goods transported," he
says, leaving a silence that implies Matrex leads in road
emulsions and repairs. The confidence comes as no surprise
since exports are 50 per cent of revenue.
While Matrex may choose to have its headquarters
in a quiet town of 20,000, it's applying valuable lessons
across the world.
"Moving to Port Perry made us a big fish
in a small town, and we like that," Bryant says. "We're close
to the townspeople and we're close to lakes, so it feels
like we're part of the community. Bigger companies move in
and then move out.”
He pauses. "We're
the opposite. We don't want to lose touch of what shapes
us."
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