Profab Welding Ltd.’s storied history ends in receivership

A Central Alberta success story will end unhappily on Dec. 18 and 19. That’s when the assets of Red Deer-based Profab Welding Ltd. will be sold at a pair of receivership auctions.

A Central Alberta success story will end unhappily on Dec. 18 and 19.

That’s when the assets of Red Deer-based Profab Welding Ltd. will be sold at a pair of receivership auctions.

An oilfield manufacturing company with operations in Red Deer and Rocky Mountain House, Profab went into receivership on Sept. 19. Also named in the receivership order was Profab Trucking Inc., Profab Corp., Profab Field Services Ltd. and Jason Parks.

Parks, who was a high school drop-out, founded Profab in Grande Prairie in 2003.

He grew the business from a single welding truck to a diversified company with more than 100 employees, and in 2011 received the Business Development Bank of Canada’s Young Entrepreneur Award for Alberta.

The then 31-year-old had moved to Red Deer a few years earlier and opened a shop here.

At the time of its receivership, Profab had operations at 7754 47th Ave. Cl. in Red Deer and at 4911 43rd St. in Rocky.

An auction of the company’s remaining equipment, inventory and vehicles will be held at its former Red Deer premises on Dec. 18 and in Rocky the following day.

The sales are being conducted by Century Services Inc., with BDO Canada Ltd. the receiver.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Alberta legislature to resume with throne speech, tabling of blockade bill

EDMONTON — Alberta politicians are returning to the legislature with a promise… Continue reading

Drugmaker readies possible coronavirus vaccine for testing

Drugmaker Moderna has shipped its first batch of a possible coronavirus vaccine… Continue reading

Scotiabank reports $2.3B first-quarter profit, tops expectations by analysts

TORONTO — Bank of Nova Scotia is optimistic its international ventures are… Continue reading

A look at carbon prices across the country

OTTAWA — As of Jan. 1, every Canadian and all Canadian businesses… Continue reading

More Red Deer seniors could be dealing with homelessness, inadequate housing in future

Red Deer is short 200 affordable seniors’ housing units: Bridges study shows

Your community calendar

Feb. 19 A Liberation of Holland event is being held at the… Continue reading

People don’t want to be governed

Not so long ago, Canada was caught up in a conversation about… Continue reading

Kids under 12 banned from heading soccer balls in practice

LONDON — Children up to the age of 12 will be banned… Continue reading

Oilers among winners, Panthers losers at NHL trade deadline

Mired in a run of one playoff appearance in 13 seasons, the… Continue reading

‘Mixed verdict’ in Weinstein case may disappoint some #MeToo supporters: scholar

The verdict in Harvey Weinstein’s sexual assault trial is in, but Canadian… Continue reading

Ex-coach gets 6 months in college scam, runs from courthouse

BOSTON — The former men’s tennis coach at the University of Texas… Continue reading

Kenney says investor confidence needed after Teck mine project killed

EDMONTON — Alberta Premier Jason Kenney says his government is taking action… Continue reading

‘They loved life’: Family and friends give tearful tributes at Kobe Bryant at memorial

LOS ANGELES —Tears streamed down Vanessa Bryant’s face as she spoke about… Continue reading

Most Read