Company Name: Fantom
Description: Fantom is a company that is based in Canada and is engaged in the production of canister-shaped and full-scale standing dual cyclonic vacuum cleaners. It is also involved in improving common thermal energy that is intended to transform fossil fuels to heat energy.
The company operates its business from three operations centers namely the Fantom Technologies Intellectual Property, Inc., Fantom Technologies USA, Inc. and Fantom Technologies Direct, Inc. The company was established by Rikki Meggeson, Allan Millman and Stephen Doorey in 1983.
It was in 1998 that Fantom had completed its leasing agreements for a factory space in west Columbia and south California. The said agreements supported the growth of the company’s aggressive plans for Fantom’s latest and existing products. The strategic move had also given the company physical charisma in the United States where much of its product sales occurs.
Fantom had also established a strategic partnership with Omachron Technologies which is a company involved in improving several technologies of a variety of home appliances and other products sold commercially. The scientists of Omachron have had around twenty years worth of experience on a wide range of civilian and non-civilian projects.
A number of these projects have comprehensive application to consumer products. The agreement between Fantom and Omachron involves combining the expertise of Fantom in product design, marketing and manufacture with Omachron Technologies’ scientific knowledge in developing new products with cutting-edge technologies.
Fantom has always focused on the development of the latest products and technologies in the floor-care industry and other wider fields of consumer products. In an attempt to further expand the company, Fantom has secured a US$59 million loan from the Canadian Chartered Bank. The said loan included US$15 million in three-term credits and operating credits. A total of US$44 million has also been allotted for general company purposes, research and development and capital expenditures.
For the last three years, the company has had a net income of US$3.6 million or US$0.49 million per share and just recently, the Fantom’s net income has gone down to US$3.5 million or US$0.39 million per share.
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