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Hi. My name Alain Chatillon and I'm the president of Tankcon FRP. Tankcon FRP has been involved
in fiberglass tank trailers throughout North America since the 1990s. Primarily in the
Canadian market from 1963 to 1990, we were held by a transportation company, Transport
Provost. And, in 1990, Tankcon was formed to be able to distribute, manufacture FRP
trailers in the United States. Our production has gone since the Canadian years from 5 or
6 trailers a year to approximately 100 trailers a year now.
So then, in 1990, Tankcon FRP was formed. And what we wanted to do is take all that
experience that we had in Canada and start selling trailers in the US. And in the process
of doing so, as time went on, we realized that we had to have a more physical presence
in the United States. And Americans like to deal with people in the US. So with the people
around us, the accountants, the tax experts, and so on, they suggested, and which we agreed
to do, obviously is to open up a US operation. And we chose Delaware for tax reasons, for
fiscal reasons, and so on for tax reasons.
In the process we hooked up with Vincent Allard, from CorpoMax. And what we found was that,
comparing to when we opened companies or entities in Canada, it was much much easier in Delaware.
The Tankcon group has approximately 8 to 9 companies associated, directly and indirectly,
with Tankcon. And the process is a long process. We have to open a new corporation, provincially
or federally. We have to get our tax numbers. We have to open a bank account. We have to
have certain other permits to be able to exploit the business here in Canada.
And in the US, it was really easy. With CorpoMax, it took basically 2 to 3 days. And that didn't
only include the incorporation, it also included the tax numbers at the federal level, at the
state level, and also the bank account. So it was a package deal that permitted us to
be operational almost the same week as when we decided to do it.