On March 29, 2025, Shaw-Almex Industries Limited, a global conveyor belt vulcanizing equipment provider based in Stoney Creek, Ontario, filed a Notice of Intention to Make a Proposal (NOI) on March 29, reporting approximately $54.9 million in liabilities. Major creditors include RBC ($16.3M), Varilease Finance ($6.3M), BDC ($1.8M), and BDC Capital ($3.4M). The filing follows unsuccessful sale and refinancing efforts. RBC issued a demand letter on March 19, followed by BDC on March 28. The company, founded over 67 years ago in Parry Sound as a small family business, has grown into a multinational enterprise operating in 123 countries with 15 locations. Its manufacturing footprint spans Canada, the U.S., China, and Spain. Shaw-Almex’s financial distress stems from unreliable rubber supply chains and significant losses from currency hedging under its former CFO’s oversight.

FTI Consulting has been appointed as the proposal trustee. Legal advisors include Reconstruct for the company, Stikeman Elliott for the proposal trustee, Dentons for RBC, DLA Piper for BDC Capital, and Blaney McMurtry for BDC. The proceedings mark a critical juncture for the long-standing manufacturer as it seeks to stabilize operations and explore restructuring pathways.