Business View Magazine | Volume 8, Issue 9

31 BUSINESS VIEW MAGAZINE VOLUME 8, ISSUE 9 TORCOM CONSTRUCT ION INC . Torcom Construction was founded in 1985. In its 36 years, the company has been involved in institutional, commercial, and industrial (ICI) projects, relying on strong partnerships with local sub-contractors, a critical factor in the company’s success. Some of the major projects they’ve completed over the years include the Sheridan College H-wing extension in Oakville, new elementary and high school buildings, and renovations and additions to schools and libraries. As a general contracting company, Torcom bids for these jobs based on its track record, partnerships with subcontractors, and ability to offer the lowest bid. “The last bit is somewhat of a juggling act,” says Chitilian, “because it can be risky, especially in volatile times such as those brought on by the COVID-19 pandemic. Most of the projects we take on are firm-fixed-price (FFP) contracts, which means that when we bid for a project, and get it, whatever we quote is what the client will pay, regardless of our costs, profits, or losses. It’s an attractive proposition for a client because it fixes their costs, but it can be a nightmare for a contractor because you can’t pass any cost overruns to the client. Because of this, we run a very tight ship on each project, which helps us close most of our FFP projects in profit.” Torcom Construction has a team of 10 to 15 full-time employees at its headquarters, consisting of estimators, project managers and accountants. The firm also engages several dozen tradespeople who work with various subcontractors on different projects. Most of the company’s employees have worked there for many years and a good reason for that is the family-oriented atmosphere. “We are an amiable company and treat all our people like family,” shares Chitilian. “Since we are a small company, it’s been easy to remain close-knit and to have everyone on a first-name basis.” Chitilian is so optimistic about the company’s