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2011
ANNUAL REPORT
ABCRC is pleased to present our 2011 Annual Report, and in
doing so proudly celebrates the 1.75 Billion beverage containers Albertans recycled with us during the past year.
TABLE OF CONTENTS
Message from Chair
Message from President
5
7
About ABCRC
Mission, Vision, Guiding Principles and Mandate
Roles and Responsibilities
How the Money Flows
9
10
11
12
2011 Priorities
Performance by Container
Market Details
Performance by Material
Environmental Impact
13
15
17
18
20
Operations
Consumer Engagement
21
25
Financial Statements
Container Recycling Fee
Legislative Mandate and Accountability
Board of Directors and Committees
2011 Manufacturers of Regulated Beverage
Containers
33
35
37
39
41
i To go to a specific section click on the page number above.
ABCRC 2011 Annual Report 4
CHAIR’S MESSAGE
IN 2011, ABCRC WELCOMED GROWTH AND THE INDUSTRY’S
ACHIEVEMENT OF A RECORD HIGH RETURN RATE OF 83.2%.
2011 represented another consecutive
year of growth for ABCRC. In achieving new all-time highs for both the
number of containers recycled and the
annual return rate for non- refillable
containers, ABCRC continued to
thrive.
The past year also brought significant
change. We marked the first full year
of beer’s arrival into our system, a
step that introduced important new
stakeholders to the Board and enabled ABCRC to become the steward
for all non-refillable beverage containers sold within the province. This
change came on the heels of the
inclusion of dairy beverages in 2009,
which made Alberta the first jurisdiction in North America to also include
milk and cream containers in a regulated deposit-refund system. ABCRC
can now celebrate, and benefit from,
becoming a fully integrated organization.
5 ABCRC 2011 Annual Report
Our leadership team’s desire to
ensure that our growth continued to
be sustainable, effectively administered and reflective of key stakeholders underscored the importance
of ABCRC’s commitment to best
practices in Governance. During
2011, members of both the Board
and the Management team participated in training opportunities provided by the Institute of Corporate
Directors (ICD) and completed a
comprehensive Enterprise Risk Assessment process to identify and
strategically manage the long term
health of the company.
The spirit of collaboration was a vital
theme in our approach to working
with our stakeholders. We initiated
the first joint strategy meeting held
between the Beverage
Container Management Board and
ABCRC, and supported our management team’s participation in numerous multi-stakeholder industry committees. We also continued to lead
and innovate with technology, as
part of our commitment to progress
and improvement across the industry.
As the year came to a close, we
finished within 13.5 containers per
capita of achieving the provincial
government’s target of an 85%
return rate. Though there is still
work to be done, with continued
effort success is well within our
reach.
On behalf of the Board of Directors,
I extend our gratitude to ABCRC’s
dedicated team members, valued
stakeholders and every Albertan
who shares our commitment to environmental stewardship through the
recycling of empty beverage containers.
Ken White
Chair, ABCRC
PRESIDENT’S MESS AGE
IN 2011, ABCRC SUCCESSFULLY RECYCLED OVER 1.75 BILLION
BEVERAGE CONTAINERS, DIVERTING 95,315,500 KG FROM
ALBERTA’S LANDFILLS.
Sometimes, the best way to assess
your corporate impact is by using a
kind of virtual displacement theory –
imagine removing your efforts from
the equation and then consider the
result. For ABCRC, and our 130 dedicated staff members, the thought that
over 1.75 Billion beverage containers
could have gone to landfill in 2011 is
not something we care to imagine.
For our team, the need to successfully
collect and recycle Alberta’s nonrefillable beverage containers continues to be more than our mission, it’s
our passion.
During 2011, we identified the leveraging of technology as a key to improving the effectiveness of our
industry. With the input of stakeholders including the Beverage Container
Management Board (BCMB) and the
Alberta Bottle Depot Association
(ABDA) we launched successful pilot
studies in compaction
technology, automated counting and
improved shipping containers. These
innovations have paved the way for
future implementation and a more
productive, sustainable system.
As part of our constantly expanding
commitment to consumer engagement, we teamed with the BCMB and
ABDA in pioneering the Recycling Infrastructure Partnership
(RIP). This unique $1M grant program
enabled Depots across the province to
acquire and place new beverage container recycling infrastructure in
under served public spaces within
their communities.
Collaboration within the industry continued to be a priority for ABCRC’s
management team throughout the
past year. In addition to our continued leadership of the Joint Marketing
Committee and participation in an
Industry Discussion
Group, as President I was pleased to
accept an invitation to represent
ABCRC on a new and progressive Industry Leadership Committee.
In looking back over the past year I,
together with my Management team,
offer sincere appreciation to our clients, industry members and staff for
their efforts throughout 2011. I look
forward to our shared future - one
that includes billions of new success
stories.
Guy West
President, ABCRC
ABOUT ABCRC
Alberta Beverage Container Recycling Corporation (ABCRC) is a provincially
incorporated product stewardship corporation operating with not-for-profit
provisions. ABCRC works collaboratively with the regulatory body, the Beverage Container Management Board (BCMB), and the Alberta Bottle Depot Association (ABDA).
ABCRC operates the system that collects and recycles used non-refillable beverage containers from bottle depots. ABCRC also works with the bottle
depots, beverage manufacturers and communities to promote the costeffective, convenient and widespread recovery of used non-refillable beverage
containers across the province.
*
* Non-refillable beverage containers
ROLES AND RESPONSIBILITIES
TH E
CO NS U MER
Government
Sector
Corporate
Sector
DEPOTS
Provincial
Government
(BCMB)
Manufacturers
Local
Governments Municipalities
and Regional
Districts
NonGovernment
OrganizationsEnvironmental
& Consumer
Distributors
and Other
Retailers
Private Sector
Processors,
Transporters
& Recyclers
i Roll over bubbles to enlarge each of them.
Alberta Beverage Container Recycling Corporation (ABCRC) is the collection
system agent for all used non-refillable beverage containers covered by the
Environmental Protection and Enhancement Act, through the Beverage Container Recycling Regulation.
ABCRC operates the system that collects and recycles used non-refillable
beverage containers from bottle depots on behalf of over 200 manufacturers
who sell beverages in Alberta. The industry-managed model of product stewardship in Alberta has proven to be very successful.
HOW THE MONEY FLOWS
Container
Flow
S TA RT
P
POP
PO
Money
Flow
DEPOTS
M A N U FA C T U R E R S
HERE
COMMODITY
MARKETS
PO
P
RETAILERS
CONSUMERS
PO P
i Roll over bubbles to enlarge each of them.
The arrows show the direction of payments for deposits and the visible container recycling fee, as well as the movement of the non-refillable beverage
containers. ABCRC ensures that each container type pays for its own way.
The ABCRC system manages containers of 19 different material types and
sizes, with the costs and revenues for each accounted for separately.
The revenues for each non-refillable beverage container type include...
unredeemed deposits (the money unclaimed because the non-refillable
beverage containers were not returned for refund) and the value of the
materials collected and recycled. When there is insufficient money from
these two sources to sustain the recovery of a non-refillable beverage container type, a Container Recycling Fee is applied. Any surplus revenues generated by one non-refillable beverage container type cannot be
used to make up the shortfall for another non-refillable beverage container type but are used instead to lower any future Container Recycling
Fee on that non-refillable beverage container type.
Shortfalls are made up by the container recycling fee set specifically for
that non-refillable beverage container type.
Shortfalls are reviewed each fiscal year, based on non-refillable beverage
container return rates, system costs and commodity prices, resulting
in
container recycling fees that might increase, decrease or be removed
completely.
2011 PRIORITIES
Strategic Priorities
• Increase performance of low-performing (i.e. < 85% recovery) nonrefillable beverage container streams
• Improve Operational Efficiencies
• Effective Corporate Risk Management
• Develop Audience Specific Strategies to improve Stakeholder Relations
• Improve Sustainability Reporting
• Develop effective Manufacturer’s sales verification processes and protocols
• Facilitate the development of technology in-depot to improve
efficiencies
Consumer Engagement Priorities
• Increase Consumer Participation
• Continue Industry Collaboration
• Improve Convenience
Operational Priorities
• Improve Transportation Performance
• Improve Processing Performance
• Improve Quality Control Effectiveness
• Improve Health & Safety Committee Capacity
• Improve Communication and Services
• Develop Internal Audit Action Plan
CONTAINERS SOLD AND RECOVERED
Containers recovered in 2011
2,000
1,800
1,600
1,400
SOLD
1,200
(millions)
RECOVERED
2011
2010
2009
2008
1,000
2007
2006
2005
Over 14.6 Billion Containers Recovered Since 1995
MARKET DETAILS
MATERIAL
Aluminum
Plastics
HDPE, LDPE, PET-Green (Jul-Dec),
PP, PS, Other Plastic (PVC)
Glass
Tetra Brik
Bi-Metal
Ceramics & Aerosol
Beverage Containers
General Recycling
Industries Ltd.
Landfill
Fibre extracted and
used in the
manufacture of
paper products
Smelted down for
recycling into
construction re-bar
and car parts
No viable recycling
markets for this
material
80% by weight
recycled
95% of weight is
recycled with 5%
contaminants or
moisture
Gable Top
Bag-In-A-Box
(bladders)
Drink Pouches
Merlin Plastics Ltd.
CUSTOMER
RECYCLING
Evermore
Vitreous Glass Inc.
Recycled back into
aluminum cans
Manufacture of
fiberglass insulation by Owens
Corning or Johns
Mannville
95 – 99% of weight
shipped is
recycled, with the
remainder being
moisture and
contaminant
Fibre extracted &
used in the
manufacture of
paper products
Residual aluminum
and plastics –
undetermined at
this time but
potential fuel for
gasification
(energy recovery)
The Paper Tigers
Merlin Plastics Ltd.
Waste Management
(Bag-In-A-Box Cardboard)
46.6%
RETURN RATE
87.8%
11,942.10
32.9%
77.3%
17,675.3
Ceramics pre-date
regulatory requirement for recycling
0 aerosol containers in 2011
72 ceramic bottles
in 2011
80% by weight
recycled
% OF SOLD
CONTAINERS
TONNES DIVERTED
95% recycled with
5% waste including caps, corks and
dust
The Paper Tigers
8.5%
6.2%
4.6%
0.9%
0.3%
0.0%
93.0%
72.4%
67.0%
78.0%
83.8%
0.0%
60,517.70
1,829.60
2,815.40
249.7
285.80
0
9.6%
5.5%
3.7%
0.8%
0.3%
0%
% OF REGULATED
CONTAINERS
49.4%
30.7%
i To highlight information roll over the chart.
P E R F O R M A N C E B Y M AT E R I A L
Alberta Beverage Container Recycling Corporation Statement of Operations (000’s)
As at December 31, 2011
VOLUME SOLD
Total
Aluminum
Plastics
Glass
Polycoat
Bi-Metal
2,116,959.5
986,422.1
695,827.9
180,520.4
248,657.1
5,532.1
1,752,881.5
866,186.4
537,811.7
168,388.0
175,856.9
4,638.3
VOLUMES PROCESSED
(includes contract beer)
Return Rate
82.8%
87.8%
77.3%
93.0%
70.7%
83.8%
Kg Diverted
95,315.5
11,942.1
17,675.3
60,517.7
4,894.6
285.8
ALBERTA POPULATION 2010
3,651.1
REVENUES
Unredeemed Revenue
38,364.8
11,429.9
17,188.7
1,309.6
8,292.1
144.5
Container Recycling fees
45,036.4
10,548.6
15,628.2
12,838.4
5,542.4
478.8
Operating Income
34,432.6
21,295.1
11,934.2
700.5
485.9
16.9
117,833.9
43,273.7
44,751.1
14,848.5
14,320.4
640.2
Total Revenues
EXPENDITURES
Beverage Container Management Board
Handling Commissions paid to Depots
1,140.1
565.1
349.3
109.2
113.5
3.0
78,003.1
26,356.6
30,197.7
11,204.4
9,896.1
348.4
19,230.2
4,227.5
9,797.1
2,407.7
2,746.0
51.9
3,442.4
1,701.0
1,056.2
330.7
345.4
9.1
ABCRC EXPENSES
Processing & Transportation
Administration
Advertising & System Development
4,458.1
1,334.3
1,988.6
150.5
968.7
16.0
106,273.8
34,184.6
43,388.8
14,202.4
14,069.6
428.4
11,560.1
9,089.1
1,362.2
646.0
250.8
211.9
106,273.8
34,184.6
43,388.8
14,202.4
14,069.6
428.4
71,841.1
12,889.4
31,454.7
13,501.9
13,583.7
411.4
Operating
29.11
9.36
11.88
3.89
3.85
0.12
Net Operating
19.68
3.53
8.62
3.70
3.72
0.11
Operating
0.05
0.03
0.06
0.08
0.06
0.08
Net Operating
0.03
0.01
0.05
0.07
0.05
0.07
Operating
0.06
0.04
0.08
0.08
0.08
0.09
Net Operating
0.04
0.01
0.06
0.08
0.08
0.09
Operating
1.11
2.86
2.45
0.23
2.87
1.50
Net Operating
0.75
1.08
1.78
0.22
2.78
1.44
SURPLUS (DEFICIENCY)
OF REVENUES OVER EXPENSES
OPERATING COST
NET OPERATING COST
(Cost less Operating Income)
COST PER CAPITA
COST PER UNIT SOLD
COST PER UNIT RECOVERED
COST PER KG DIVERTED
ABCRC enabled Albertans to divert more than 95,315,500 kg from
landfills, reducing enough eC02 to equal removing 44,115 passenger cars from the road.
ENVIRONMENTAL IMPACT
In 2011, ABCRC recycled over 1.75 Billion beverage containers, diverting
more than 95,315,500 kg of materials from landfills. When assessed using
Environment Canada’s Greenhouse Gases (GHG) Calculator for Waste
Management1, ABCRC’s recycling activities are shown to have reduced eCO2
by 193,816 tonnes, the equivalent of removing 44,115 passenger cars from
roadways each year.
Baseline Scenario refers to standard waste management
condition where Alternative Scenario demonstrates achievement by ABCRC’s activities.
Source: Environment Canada Greenhouse Gasses (GHG) Calculator for Waste Management
http://www.ec.gc.ca/gdd-mw/default.asp?lang=en&n=D6A8B05A-1
Environment Canada created the GHG Calculator for Waste Management to help municipalities and other
users estimate GHG emission reductions from different waste management practices, including recycling.
The life-cycle methodology used in this Calculator is based on the United States Environment Protection
Agency's WAste Reduction Model (WARM), which has been available since 1993.
1
2
Other Paper includes material from tetra brik and gable top beverage containers
OPERATIONS
Transportation Performance
Processing Performance
In 2011, ABCRC transported 35,376
loads of non-refillable beverage containers to our processing centers,
representing a 0.5 % increase over
the prior year. Load utilization rose by
2% to 4,129 dozen containers per
load. This improvement is attributed
to an incremental increase in the
amount of containers being packed
into mega bags by Depots and the
introduction of greater capacity trailers by our transportation providers.
ABCRC’s processing plants experienced a slight decrease in the number
of mega bags processed by 0.2% as a
result of the improved
count of containers packed in each
mega bag. Processing efficiency
increased by 1.5% from 2010, up to a
rate of 10.1 mega bags per hour.
ABCRC made strategic investments in
our processing facilities to improve
performance. The forklift fleet was
transitioned to electrical units, a process that was accelerated when test
units demonstrated superior cost performance versus existing propane
units.
Daniel White, Area Manager - Northern Alberta and Michael Marchand, Edmonton Plant Manager
Quality Control Effectiveness
In 2011, ABCRC applied quality
control audits to 30,201 mega bags,
measuring a median system risk of
$696,834. This translated into a
cost of 0.040 cents per container
and represents an improvement of
23.4% over the prior year. ABCRC
demonstrated its commitment to
leveraging technology with the
installation of two high speed automated counting tools, one in each
plant facility. The equipment underwent rigorous performance tests
and trials during the third and
fourth quarters of 2011.
Communications & Service
The traditional practice of faxing payment statements to Depots was discontinued by the third quarter in
2011, in favor of a new on-line
method. Depots were provided with
secure access to current and historical payment statements via the Depot
Operator section of ABCRC.com. This
change effectively streamlined the
flow of information from ABCRC to
Depots.
Health & Safety
ABCRC’s Edmonton Plant recorded
zero Lost Time Claims in 2011,
Health & Safety
continuing a strong trend of Health
and Safety achievement by the staff
of that facility.
In response to results from an external Health & Safety Audit, ABCRC
developed and executed a new Action
Plan. The plan outlined opportunities
to improve Management’s floor engagement and staff understanding of
Hazard Assessment and Safety Action
Requests. Training in areas such as
Hazard Assessment and Personal Protective Equipment management was
undertaken to improve staff capacity
and understanding.
2008
2009
2010
2011
23
24
24
24
Claims / 200,000 Hours
14.3
24.8
26.2
16.0
$/Claim
6829
1051
1831
1944
Man Days Lost / LTC
29.4
3.6
8.8
6.7
Health & Safety Meetings
Additionally, ABCRC identified back injuries as a prioritized area of opportunity for
improvement.
A specialist was commissioned and developed a tailored training module for back
injury prevention.
ABCRC’s Health and Safety Committee achieved specific improvements in meeting
administration and other documentation. Committee members were also provided
with the opportunity to undertake specific training to expand their roles and foster
increases in responsibilities.
2011 Depot Satisfaction Survey
A June, 2011 survey 1 of Alberta’s Bottle Depot Operators revealed that 94%
rated themselves as moderately or highly satisfied with ABCRC. In particular,
the ability to communicate with ABCRC staff and timeliness of payment scored
high approval ratings. The survey revealed that 39% of survey respondents 2
identified the quality of mega bags as an area for improvement, an important
indicator that enabled ABCRC to undertake development of a mega bag action
plan.
1
The survey was developed and administered by independent research firm Janet Brown Consulting Ltd,
commissioned by ABCRC
2
Of 219 Depot Operators eligible to participate, 145 provided responses
CONSUMER ENGAGEMENT
ABCRC’s CONSUMER ENGAGEMENT ACTIVITIES MADE QUITE AN
IMPRESSION – IN FACT, THEY GENERATED OVER 220 MILLION
IMPRESSIONS ALL ABOUT BEVERAGE CONTAINER RECYCLING.
ABCRC mobilized on its commitment to engage Albertans in beverage container recycling with a diverse and highly targeted suite of tactics, including
Point of Sale (POS) Advertising, Social Media and Event-based Marketing.
POS Advertising
Seasonal Advertising
ABCRC’s retail advertising was placed
in over 300 grocery, drugstore and
other points of sale across Alberta.
Attention-grabbing messaging focused
on raising consumer awareness about
beverage containers, such as gable
top and tetra brik, whose rate of
return is lower than average. The
campaign generated over 210 million
impressions.
ABCRC created a seasonal awareness
campaign to connect with consumers
during December, an historically busy
period for beverage sales. Ads ran in
major daily and most weekly newspapers around the province, generating
over 3 Million impressions.
2011 Ad Tracking Study
70%
64%
9%
5%
20%
Strongly Agree
Somewhat Disagree
12%
Strongly Disagree
I learned some new information
These ads encourage me to recycle
more of the empty beverage contain- about the types of beverage
containers that can be returned to
ers I use
the Bottle Depot from these ads
Place a Bin
Go Green Team
This social media campaign challenged Albertan’s to “Place A Bin” in
their community. Accompanied by a
comprehensive media relations campaign creating over 6.5 Million impressions, this unique program netted
over 1,000 Bin requests through
Facebook.
This team of 20 dynamic young Albertans crisscrossed the province with
mascot “M.T.” to promote beverage
container recycling at 173 events and
festivals. Their on-site activities are
estimated to have included nearly 1
Million impressions.
00:00 / 00:00
Challenges involved with placing bins
on sites owned by third parties hindered deployment of the program in
some instances, though provided important learnings for application in
future campaigns.
ABCRC’s HARD WORKING INFRASTRUCTURE PLACEMENT PROGRAMS DIVERTED OVER 44 MILLION CONTAINERS FROM LANDFILLS, AND ENABLED ALBERTA’S COMMUNITY-BASED ORGANIZATIONS TO COLLECT VALUABLE FUNDS.
In 2011, ABCRC worked hard to grow existing community partnerships and
create new connections in order to win additional public participation in beverage container recycling. The launch of an innovative new grant program, the
Recycling Infrastructure Partnership (RIP), alongside ABCRC’s well established
Community Champion Program (CCP) worked to tackle opportunities for improving out-of-home recycling.
Recycling Infrastructure Partnership
In 2011, ABCRC collaborated with the
BCMB and ABDA in the development
of a new infrastructure program
called the Recycling Infrastructure
Partnership. This unique $1M grant
program provided a process for
ABCRC to flow funding to Depots
across the province, enabling them to
acquire and successfully place new
beverage container recycling infrastructure in under-served public
spaces within their communities.
RIP Chart
Depot Partners
Bins
Containers Reported
2011
68
2,604
1,950,952
"We are so grateful to be part of the Community Champions Program.
As a children's cancer charity, we are deeply concerned about the
health of the planet and we care deeply about sharing those values
with our campers-the environmental stewards of tomorrow. This program not only helps us to live and impart our values on to the next
generation at no cost to the Foundation; it actually enables us to do
this while generating revenue from the recyclables, which helps offset
some of our overhead costs. It's truly a win-win situation for everyone: Kids Cancer Care, our campers, the environment."
Dacia Lashmore
Catering and Housekeeping Manager, Camp Kindle
CCP Growth Chart
2008
2009
2010
2011
1
13
10
9
5,929
6,703
6,873
8,480
10,765,223
16,741,037
27,176,511
35,246,168
New Partners
Bins (LTD)
Containers (LTD)
Schools Program Growth
Schools Registered
Percent Reporting
Containers Collected
Containers per Capita
2007/08
2008/09
2009/10
2010/2011
515
416
470
508
70.9%
77.4%
56.2%
55.9%
5,540,300
5,186,571
4,125,299
4,486,877
77.10
38.21
26.54
n/a
i To highlight information roll over the chart.
Caps Off for Kids Program
With the transition to a voluntary
program caps are still being removed
and recycled in Alberta. Depots,
schools, offices and private homes
across the province have embraced
the Caps Off for Kids program raising
$11,308 in 2011.
100% of the proceeds raised through
the Caps Off for Kids Program help
support the Rainbow Society of
Alberta, an organization that grants
wishes to Alberta children with
chronic or life threatening illnesses.
TOTAL WEIGHT (lbs)
Amount Raised ($)
113,083
11,308
The students and staff at St. Brendan Elementary School in Edmonton
are actively involved in the Caps Off for Kids program, and were the
hosts of a cheque presentation in the amount of $18,500. ABCRC’s
Caps Off recycling initiative promotes the importance of keeping plastic bottle caps out of landfills with the proceeds raised through the
initiative being donated to The Rainbow Society of Alberta.
Financial Statements of
ALBERTA BEVERAGE CONTAINER
RECYCLING CORPORATION
Year ended December 31, 2011
INDEPENDENT AUDITORS' REPORT
To the Shareholders of Alberta Beverage Recycling Corporation
We have aud ited the accompanying financial statements of Alberta Beverage
Container Recycling Corporation, which comprise the statements of financial
position as at December 31 , 2011 , December 31 ,2010 and January 1, 2010,
the statements of operations and accumulated surplus of revenues over
expenses and cash flows for the years ended December 31, 2011 and December 31, 2010, and notes,comprising a summary of significant accounting policies and other explanatory information.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these
financial statements in accordance with Canadian accounting standards for
not-for-profit organizations, and for such internal control as management
determines is necessary to enable the preparation of financial statements that
are free from material misstatement, whether due to fraud or error.
Auditors' Responsibility
Our responsibility is to express an opinion on these financia l statements
based on our audits. We conducted our audits in accordance with Canadian
generally accepted auditing standards. Those standards require that we
comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financia l statements are free from
material misstatement.
An audit involves performing procedures to obtain audit evidence about the
amounts and disclosures in the financial statements. The procedures selected
depend on our judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In
making those risk assessments, we consider internal control relevant to the
entity's preparation and fair presentation of the financial statements in order
to design aud it procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the entity's
internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made
by management, as well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained in our aud its is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the financial statements present fairly , in all material respects, the financial position of Alberta Beverage Container Recycling Corporation as at December 31, 2011, December 31, 2010 and
January 1, 2010, and its results of operations and its cash flows for the years
ended December 31, 2011 and December 31 , 2010 in accordance with Canadian accounting standards for not-for-profit organizations.
Chartered Accountants
May 7, 2012
Calgary, Canada
Download ABCRC's 2011 Financial Statements
Financial Statements of
ALBERTA BEVERAGE CONTAINER
RECYCLING CORPORATION
Years ended December 31, 2011 and 2010
ALBERTA BEVERAGE CONTAINER RECYCLING CORPORATION
Statements of Operations and Accumulated Surplus of Revenues over Expenses
Revenues:
Regulated deposits
Container recycling fees
Deposits refunded
December 31,
2011
December 31,
2010
$ 238,011,195
45,036,419
(199,646,386)
83,401,228
$ 183,767,805
32,314,440
(151,940,740)
64,141,505
Sale of processed containers
Processing fees and other income
Gain (loss) on foreign exchange
33,537,072
479,492
416,059
117,833,851
18,995,878
3,376,541
(127,584)
86,386,340
78,003,093
58,332,096
1,140,080
823,841
9,755,701
8,906,536
3,303,228
4,458,060
707,056
106,273,754
9,534,909
6,886,466
3,407,527
3,595,930
632,072
83,212,841
Excess of revenues over expenses
11,560,097
3,173,499
Accumulated surplus of revenues over expenses,
beginning of year
Adjustment for beer surplus fund transfer
Accumulated surplus of revenues over expenses, end of year
16,459,904
480,000
28,500,001
13,286,405
–
16,459,904
Handling commissions
Beverage Container Management Board fees
Expenses:
Warehouse
Transportation
Administration
Marketing and technology
Amortization
See accompanying notes to financial statements
$
$
Statements of Cash Flows
December 31,
2011
December 31,
2010
$ 11,560,097
$ 3,173,499
Cash flows related to the following activities:
Operations:
Excess of revenues over expenses
Adjustments for non-cash items:
Amortization
Loss on disposal of property and equipment
Unrealized foreign exchange (gain) loss
Changes in non-cash working capital:
Accounts receivable
Prepaid expenses
Accounts payable and accrued liabilities
Financing:
Repayment of obligation under capital leases
Issuance of shares
Beer fund surplus transfer
Investing:
Purchase of property and equipment
Proceeds on disposal of property and equipment
Change in short term investments
707,056
(1,582)
11,340
716,814
632,072
(14,494)
7,044
624,622
(3,697,501)
(16,676)
7,721,603
4,007,426
(5,443,727)
(4,784)
5,640,194
191,683
16,284,337
3,989,804
(10,933)
200
480,000
469,267
(11,508)
–
–
(11,508)
(616,886)
41,700
(15,016,315)
(15,591,501)
(777,008)
21,725
31,772
(723,511)
(11,340)
1,150,763
(7,044)
3,247,741
Foreign exchange gain (loss) on cash held in foreign currency
Net increase in cash
Cash and cash equivalents, beginning of year
18,392,670
15,144,929
Cash and cash equivalents, end of year
$ 19,543,433
$ 18,392,670
Supplementary cash flow information:
Cash paid for interest
Cash received for interest
$
$
$
$
See accompanying notes to financial statements
29,322
309,426
28,525
98,987
Notes to the Draft Financial Statements
1. Nature of business:
Alberta Beverage Container Recycling Corporation (the “Corporation”) is incorporated under the
Business Corporation Act (Alberta). The Corporation has a not-for-profit provision which exempts
the Corporation from taxes under Section 149 (1) (l) of the Income Tax Act; subject to certain
requirements.
The Corporation has been appointed by participating beverage manufacturers (the “Participants”)
in the Province of Alberta, to collect non-refillable registered containers from depots and cause
them to be recycled, as required under the Beverage Container Recycling Regulation. The
Corporation’s guiding principles require that container-recycling fees are determined such that
each container type is self-funding.
The Corporation early-adopted Canadian Accounting Standards for not-for-profit organizations
(“ASNPO”) with an effective date of January 01, 2011. These are the first financial statements
prepared in accordance with ASNPO.
In accordance with the transitional provisions in ASNPO, the Corporation has adopted the
changes retrospectively, subject to certain exemptions allowed under these standards. The
transition date is January 01, 2010 and all comparative information provided has been presented
by applying ASNPO.
There were no adjustments to amounts previously reported under Canadian generally accepted
accounting principles resulting from the transition to ASNPO.
2. Significant accounting policies:
These financial statements have been prepared in accordance with Canadian accounting
standards for not-for-profit organizations, and include the following significant accounting policies:
(a) Revenue recognition:
Container recycling fees and regulated deposits are recognized upon the sale of product by
the Participants. Processing fees are recognized as services are provided, the sales price is
determinable and collection is reasonably assured. Revenue arising from the sale of
processed containers is recognized when shipped.
(b) Liability for unreturned containers:
The amount recorded as a liability for unreturned containers (note 6) is based on
managements’ estimates of future container return rates and associated costs and is
included in accounts payable and accrued liabilities.
Notes to the Draft Financial Statements, page 2
2. Significant accounting policies (continued):
(c) Property and equipment:
Property and equipment is recorded at cost and amortized using a straight line method over
their estimated useful lives as follows:
Office equipment
Computer and communication equipment
Vehicles
Plant equipment
Leasehold improvements
5 years
3 years
3 years
5 and 10 years
Term of Lease
(d) Use of estimates:
The preparation of the financial statements in conformity with Canadian accounting standards
for not-for-profit organizations requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and the reported amounts of revenue and
expenses during the year. The significant item subject to such estimates and assumptions is
the liability for unreturned containers. These estimates are reviewed periodically, and, as
adjustments become necessary, they are reported in earnings in the year in which they
become known. Actual results could differ from those estimates.
(e) Foreign currency:
Monetary items denominated in foreign currency are translated to Canadian dollars at
exchange rates in effect at the balance sheet date and non-monetary items are translated at
rates of exchange in effect when the assets were acquired or obligations incurred. Foreign
exchange gains and losses are included in income.
(f) Financial Instruments:
Financial instruments are recorded at fair value on initial recognition. Freestanding derivative
instruments that are not in a qualifying hedging relationship and equity instruments that are
quoted in an active market are subsequently measured at fair value. All other financial
instruments are subsequently measured at cost or amortized cost, unless management has
elected to carry the instruments at fair value. The Corporation has not elected to carry any
such financial instruments at fair value.
Transaction costs incurred on the acquisition of financial instruments measured subsequently
at fair value are expensed as incurred. All other financial instruments are adjusted by
transaction costs incurred on acquisition and financing costs. These costs are amortized
using the straight-line method.
2. Significant accounting policies (continued):
(f) Financial Instruments (continued):
On an annual basis at the end of the fiscal year, if there are indicators of impairment, financial
assets are assessed for impairment. If there is an indicator of impairment, the Corporation
determines if there is a significant adverse change in the expected amount or timing of future
cash flows from the financial asset. If there is a significant adverse change in the expected
cash flows, the carrying value of the financial asset is reduced to the highest of the present
value of the expected cash flows, the amount that could be realized from selling the financial
asset or the amount the Corporation expects to realize by exercising its right to any collateral.
If events and circumstances reverse in a future period, an impairment loss will be reversed to
the extent of the improvement, not exceeding the initial impairment charge.
(g) Cash and cash equivalents:
The Corporation considers deposits and money market accounts in banks as cash and cash
equivalents.
(h) Short term investments:
The Corporation considers certificates of deposit, guaranteed investment certificates and
short-term investments with original maturities of one month or less as short-term
investments. Investments in equity instruments that are quoted in an active market are
accounted for at fair value, with changes in fair value recorded in net income. Due to the
short-term nature of these investments, cost approximates fair value.
3. Related party transactions:
70.8% percent (2010: 74.3 %) of the Corporation's revenues are from the deposits and fees
charged and collected by Participants in the selling of their beverages in non-refillable containers.
The December 31, 2011 accounts receivable balance includes $27,709,636 (Dec 31 2010 $20,511,811, Jan 1, 2010 - $19,445,185) due from the Participants in the normal course of
business.
The December 31, 2011 accounts payable and accrued liabilities balance includes $2,847,862
(Dec 31 2010 - $3,053,070, Jan 1, 2010 - $2,051,037) payable to the Participants in the normal
course of business.
4. Property and equipment:
Cost
Plant equipment
Office Equipment
Vehicles
Deposits on equipment
$ 5,166,270
1,317,957
1,292,822
139,950
39,190
46,370
$ 2,386,420
801,087
1,137,843
115,213
22,861
-
$ 2,779,850
516,870
154,979
24,737
16,329
46,370
$ 8,002,559
$ 4,463,424
$ 3,539,135
Cost
Plant equipment
Office Equipment
Vehicles
December 31, 2010
Accumulated
Net book
amortization
value
$ 4,928,856
1,215,313
1,199,030
139,950
39,190
-
$ 1,977,684
745,084
1,015,235
105,115
9,798
-
$ 2,951,172
470,229
183,795
34,835
29,392
-
$ 7,522,339
$ 3,852,916
$ 3,669,423
Cost
Plant equipment
Office Equipment
Vehicles
December 31, 2011
Accumulated
Net book
amortization
value
January 1, 2010
Accumulated
Net book
amortization
value
$ 4,907,627
768,584
1,071,064
124,323
40,217
189,133
$ 1,758,388
709,100
994,220
106,483
35,229
-
$ 3,149,239
59,484
76,844
17,840
4,988
189,133
$ 7,100,948
$ 3,603,420
$ 3,497,528
The vehicles included in the above disclosure are financed by capital lease obligations.
5. Accounts payable and accrued liabilities:
Liability for unreturned containers:
The Corporation has accrued a liability of $37,305,985 (December 31, 2010 - $28,677,058,
January 1, 2010 - $24,664,287) for the estimated costs of recycling the estimated number of
containers that have been sold by the Participants at the Corporation’s year end, and are
expected to be recovered after the year-end based on expected return rates.
Management has estimated this liability based on existing knowledge and changes in future
conditions may require a material change in the recognized amount of this liability.
6. Share capital:
The authorized share capital of the Corporation consists of the following:
Unlimited number of Class “A” shares without nominal or par value. The shares have voting
rights but no dividend rights.
Unlimited number of Class “B” shares without nominal or par value. The shares have no
voting rights but have dividend rights. The class “B” shares may only be issued with the
unanimous consent of the holders of the Class “A” shares.
The authorized share structure results in the Corporation being a not-for-profit corporation as long
as no Class “B” shares are issued and profits are restricted to the operations of the Corporation.
December 31, December 31,
2011
2010
January 1,
2010
Authorized:
Unlimited number of Class “A” shares
Unlimited number of Class “B” shares
Issued and outstanding:
900 (December 31, 2010 – 700, January 01, 2010 – 700)
Class “A” shares
$ 900
$ 700
$ 700
7. Operating line of credit:
The Corporation has an operating line of credit to a maximum of $2,500,000 from a Canadian
chartered bank bearing interest at the bank’s prime rate. The line of credit is secured with a
general security agreement over all of the assets of the Corporation. The Corporation also has
issued a $100,000 standby letter of credit, as security for the Edmonton building lease. As of
December 31, 2011, the outstanding balance for the operating line of credit was $ Nil (2010 $nil).
8. Financial instruments:
(a) Credit risk:
The Corporation is exposed to credit risk on its accounts receivable from its customers. The
majority of the accounts receivable are in respect of container recycling fees and regulated
deposits. The Corporation generally extends unsecured credit to the Participants and
therefore, the collection of accounts receivable may be affected by changes in economic or
other conditions. Management believes the risk is mitigated by the size and reputation of the
companies to which they extend credit and the net aged accounts receivable balance greater
than 60 days is not material to the financial statements as a whole.
(b) Liquidity risk:
The Corporation has sufficient funds to settle current liabilities and has no debt obligations.
The Corporation manages liquidity risk by forecasting cash flows and monitoring activity
levels which affect cash flows.
(c) Interest rate risk:
The Corporation is exposed to interest rate risk on obligations under capital lease, cash and
cash equivalents and short term investments. Due to their short term nature, management
believes this risk is not significant. A change of 25 basis points in interest rates would have
increased (decreased) excess of revenues over expenses and accumulated surplus of
revenue over expenses, end of year by $79,465 for the period ending December 31, 2011
(2010 - $40,845).
(d) Foreign currency risk:
The Corporation undertakes revenue and purchase transactions in foreign currencies and is
subject to gains and losses due to fluctuations in foreign currency exchange rates. Gains and
losses due to foreign currency based transactions are not expected to be material to the
financial statements.
As at December 31, 2011, the Corporation has a net exposure to US currency of $2,601,881
($2,104,010 in USD) and the Corporation has no options or any forward commitments to sell
additional US currency.
9. Commitments:
The Corporation has lease commitments for rent of its head office, plant spaces, and other
operating lease agreements, which expire at various dates. The lease agreement for Calgary
Facility expires in November, 2014, and the Corporation has an option to renew it for further five
years at mutually agreeable terms.
Future minimum lease rental payments aggregate to $3,632,700 and amounts due over the next
five years are as follow:
2012
2013
2014
2015
2016
$
904,081
905,500
875,511
472,558
475,050
CONTAINER RECYCLING FEE
Alberta has one of the most innovative and effective beverage container recycling programs in North America. Some of the money to operate the system
comes from the sale of recyclable material from these containers returned.
The rest comes from consumers, through unredeemed deposits and the Container Recycling Fee. Beverages come in different containers, which are made
of a variety of materials. The containers have different recycling fees, because they have different costs of recycling.
LEGISLATIVE MANDATE AND ACCOUNTABILITY
The Province of Alberta requires that all manufacturers use and maintain a
common collection system if they wish to sell or distribute beverages in nonrefillable containers in Alberta. On October 19, 2006, ABCRC was approved by
the regulatory body, the Beverage Container Management Board (BCMB) as
the common collection system agent appointed by the manufacturers for a
five year period.
Consumers return their empty beverage containers to Bottle Depots in exchange for legislated cash refunds. As the agent, ABCRC arranges and collects
non-refillable beverage containers from the bottle depots, in exchange for the
legislated deposit refund for each container, along with a handling fee established by the BCMB.
ABCRC is responsible for the recovery and recycling of empty registered nonrefillable beverage containers in a method approved by the BCMB.
Accountability to both the consumer and the BCMB is supported by a visible
fee, which covers the net cost of recycling non-refillable beverage containers.
ABCRC is responsible for ensuring the fees are fairly and accurately set, that
they are used for the purpose for which they were paid, and that there is long
term financial sustainability of the system.
BOARD MEMBER EXPENSES
The Board has covered expenses (includes GST) for its
Directors as follows:
Board Chairperson
Mr. Ken White
$4,275.86
Board Members
Brad Ryder
Neil Antymis
John Challinor
Brian Miller
Peter Kains
Trevor Koley
TOTAL
5,132.83
4,525.14
2,116.77
1,733.22
512.50
165.85
$18,462.17
2011 BOARD OF DIRECTORS
1
2
3
4
5
6
7
1
2
3
5
6
7
Ken White, Chair - Coca-Cola Bottling Company
Fran Spenrath, Vice-Chair - Alberta Gaming & Liquor Commission
Neil Antymis, Treasurer - The Pepsi Bottling Group (CAD) Ltd.
Cheryl McLaughlin - Cott Corporation
Trevor Koley - Lassonde Western Canada
Brian Miller - Lucerne Foods
John Challinor - Nestle Waters Canada
Missing
Brad Ryder - Coca-Cola Bottling Company
Bryan Cox - Canada’s National Brewers
Peter Kains - Canada’s National Brewers (January – September 2011)
4
2011 ABCRC OFFICERS
1
2
3
4
1 Guy West, President
2 Daniel Gaetano, Vice President Finance & IT
3 Colin Carter, Vice President Operations
4 Alexis MacKenzie, Vice President Communications & Marketing
(September – December 2011)
Missing
Cherie Cohen, Vice President Communications & Marketing (January – June
2011)
Committees
Governance
Audit
Brian Miller (Chair), Fran Spenrath,
Neil Antymis (Chair), Cheryl McLaugh- Kurtis McCartney and Peter Kains
lin, Tony Gusikoski and Trevor Koley
Advisor
Community and Stakeholder Rela- Robert J. Turner, Legal
tions
Counsel/Corporate Secretary Fraser
Brad Ryder (Chair), Neil Antymis,
Milner Casgrain LLP
Fran Spenrath, Corey Creese, John
Challinor and Bryan Cox
2011 MANUFACTURERS OF REGULATED
BEVERAGE CONTAINERS
1118697 Alberta Inc
A. Lassonde Inc
A.W. Jantzi & Sons Limited
Abbott Nutrition
Acklands-Grainger Inc
Advanced H20, LLC
Afod Ltd
Agrolabs Inc
Agropur - Island Farms
Alberta Gaming & Liquor Commission
Aliments Ultima Foods Inc
Allcity Importers Ltd
Amazon Preservation Partners Inc
Amway Canada Corporation
Anchor Foods International Ltd
Arctic Chiller Ltd
Arrowhead Water Product Ltd
Atkins Nutritionals Inc
Avalon Dairy Ltd - 267338 BC Ltd
Aviara Sales Inc
Bargain Shop Holdings Inc (The)
Basha International Foods Inc
Best Brands Marketing Inc
Beverage World Inc
Bioforce Canada Inc
Blue Diamond Growers
Bolthouse Farms
Bottle Green Drinks Company
(Canada)
Brewsters Brewing Company &
Restaurant
British Pantry
Bulk Barn Foods Ltd
Bumbleberry Orchards Ltd
Cabela's Retail Canada Inc
Cafeone Canada, A Division of Luzaa
Imports Ltd
Calkins & Burke Ltd
Campbell Company of Canada
Canada Dry Mott's Inc
Canada Pure Water Co. Ltd
Canadian Choice Wholesalers
Canadian Tire Corporation Ltd
Canda Six Fortune Enterprises Co Ltd
Casseroles Cora Inc
Clic International Inc
Cliffstar Corporation
Coca-Cola Refreshments
Community Natural Foods Ltd
Concord Sales Ltd
Corinthian Distributors Ltd
Cott Beverages
Country Fresh Water
Culligan of Canada Ltd
Cypress F & B Holdings Ltd
Cytosport, Inc
D & E Company
Dank Energy Drinks
Danone Inc
Danone Naya Waters Inc
Dattani Wholesalers
Dehnmar Inc
Distribution Missum Inc
Dole Packaged Foods Company
Dollarama LP
Dong Phuong Oriental Market Ltd
Double D Beverage Company
DSI Food Corporation
Earth's Own Food Company Inc
Eaux Vives Water Inc
Edoko Food Importers Ltd
Elco Fine Foods
Elite International Foods Inc
En Sante Winery Ltd
Evolv Health Canada, Inc
Fairwinds Farm Ltd
Far East North America Food Ltd
Federated Co-op Ltd
Ferma Import & Export
Fiji Water Canada Ltd
Fluid Motion Beverage Inc
Fok's Trading (Canada)
Four Winds Home Management Corp
Freelife International Canada Corp
Fukuda Trading Co Ltd
Happy Planet Foods Inc
Heart Smart Foods Ltd
Hi-Bridge Consulting Corp.
Hilary's Salesmaster Inc
Hongdao Business Development Ltd
Horizon Distributors
Hudson's Bay Company
Hung Gay Enterprises Ltd
I.D. Foods Corporation
Ice River Springs Water Co.
Icy Mountain Water Co. Ltd
IKEA Canada Limited Partnership
Imperial Chilled Juice Inc
Inform Brokerage Inc
Innovative Food Concepts Inc
J.M. Smucker Company (The)
J.W. Mason and Sons Ltd
Jack Astor's Bar & Grill
Jan K. Overweel
Jardin Foods Ltd
Jasmine Mediterranean Foods
JC Bunny Bunny Trading Co. Ltd
Jet Trading Co. Ltd
JFC International (Canada) Inc
JFC International Inc
Jiva Organics Mfg. & Dist. Inc.
Johanna Beverage Company LLC
Jones Soda (Canada) Inc
Joriki Inc
Keg Brands Inc
Kennelli Springs Ltd
KO & C Enterprises Ltd
Kohl & Firsch Ltd
Kraft Canada Inc
G.I. Energy Drinks Corporation
Gagan Foods International Ltd
Galvanina Canada Ltd
General Nutrition Centers
Genki Foods
GFS Prairies Inc
Good Taste of Brittain 1995
Good Water Company (The)
Grace, Kennedy (Ontario) Ltd
Great Western Brewing Co Ltd
Greenworld Food Express Inc
Grizzly Paw Brewing Company (The)
Latinamerican Foods Inc
Le Kiu Importing Co. Ltd
Leading Brands of Canada Inc
Les Aliments Unique Food
Les Celliers Associés
Les Produit de Marque Liberte
Liquidation World Inc
Live Young Forever Health & Wellness
Ltd
Loblaw Companies Ltd
London Drugs Ltd
Lucerne Foods
H.J. Heinz Company of Canada LP
Hain Celestial Canada Inc
Happy Days Dairies Ltd
MacDonalds Consolidated
Malinda Distributors Inc
Manzee, dba Xyience Inc
Martin Brower of Canada Ltd
Maverick Brands LLC
McCain Foods (Canada)
Minute Maid Company Canada Inc
Monashee Spring Water Distributors
Ltd
Monavie Enterprises Canada Inc
Montage Corporation
Mother Dairy
MSDP Inc
MW (Canada) Federal Ent Ltd
Pratts Wholesale Ltd
Precision Design & Manufacturing
Premier Nutrition Inc
Principal Sales Inc
Prism Distributions Inc
Pro-Water Conditioning
PSC Natural Foods
Pure Water Connection
Pure Water Oasis
Puresource Inc
Purity Organic, Inc
Nanton Spring Water Corporation
Nationwide Natural Foods
Nature's Pop Sales
Nature's Sunshine Products, Inc
Nestle Canada Inc
Nestle Professional Vitality
Nestle Waters Canada
Netmarket Central America
Nippy Water Sales
Nishimoto Trading Co Ltd
North West Company (The)
Northern Bottling
Nutrisoya Foods Inc
Nutrition Club
Nutrition Excellence Inc
Nutriton Zone Products Incorporated
Qpro Canada Inc
O'Canada Water Corporation
Ocean Spray International Services
Inc
Office General des Eaux Minerales
Ltee
Olympic Dairy Products Inc
Omega Food Importers Co Ltd
Otis McAllister, Inc
Overwaitea Foods
PA Fine Foods & Distributors Ltd
Pacific Bottleworks Company Ltd
Pacific Natural Foods
Pacific Water International Ltd
Parmalat Canada
Peak Energy Distributing Ltd
Pepsi Bottling Group (Canada) Co
(The)
Pepsi-QTG Canada
Pharmx Rexall Drug Stores Ltd
Philippine Fruit Corporation
Phoenicia Product Inc
PKE Water Store & More
Polaris Water Co. Inc
Pom Wonderful LLC
R.W. Packaging
Rage Beverages
Red Deer Bottling
Ripple FX Water Inc
Riverbend Plantation Inc
Rocky Mountain Roasters Ltd
Rona Inc
Rubicon Food Products Ltd
Rustic Backyard Structures
Santa Maria Foods Corp
Saputo Dairy Products Canada G.P.
Shoppers Drug Mart Inc
Sky Blue Water Inc
Star Marketing Ltd
Starbucks Coffee Co
Stars Trading Co. Ltd
Stillcreek Distributing Ltd
Stone Wave Inc
Sun Orchard Inc
Sun Pac Foods Ltd
Sunrise Market Inc
Sun-Rype Products (USA) Inc
Sun-Rype Products Ltd
Sunterra Quality Food Markets Inc
Superior Tofu Ltd
Super-Pufft Snacks Corp
Sysco Food Service of Calgary
Ti Foods
Tonsell International Inc
Tree of Life Canada Inc
Tree Top Inc
Treehugger Organics Inc
Tri-Pure Water Ltd
Trivita Living, Ltd
True North Nutrition
Turtle Mountain, LLC
U Neek Brands Ltd
UNFI Canada Inc - Grocery West
Unilever Canada
Unisource Canada Inc
Uno Foods Inc
Usana Canada Co
Van Dyke's Health Juice Products Ltd
Vergers Paul Jodoin Inc
Vital Green Farms
Vivid Glas Water Sales & Distribution
Ltd
Wallace & Carey Ltd
Wal-Mart Canada
Water Guy (The)
Water Pure & Simple - Minilake
Distributors
Water Pure & Simple - Wetaskiwin
Watermark Beverages Inc
Weider Nutrition Group
Wells Water
White Wave Inc
Winning Combination Inc (The)
Worldwide Specialty Foods Ltd
Ying Fat Food Products Ltd
YJ Sciences, Inc.
*list as of November 2011
T & T Supermarket Inc
Tahitian Noni International
Tak Tai Trading Co Ltd
Talking Rain Beverage Co
TBIS Bargain Shop Holdings Inc
(The)
TDL Group Ltd (The)
Temple Lifestyle Inc
TFB & Associates Ltd
Thai United Food Trading Ltd
Thomas Canning (Maidstone) Ltd
abcrc.com

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