Just like many wealthy families, the Koschitzky family likes to keep a low profile, wary of the spotlight. The Koschitzkys are incredibly wealthy, and they are currently featured on the list of top 100 wealthiest families in Canada. The family currently has an estimated net worth of $1.03 billion, which mostly derives from the IKO Group, a roofing products company that stretches across Europe and North America.
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The IKO Group was founded in 1951 by the family patriarch, Israel, who worked for his family’s roofing business in Poland before relocating to Calgary in 1949. IKO has now become a dynamic empire with over 3,000 employees. It is now managed by Saul and Henry Koschitzky, and their sons, Hartley, Jonathon and David. Saul is responsible for the sales, while Henry is more into engineering and manufacturing.
As for the younger generation, David is responsible for the up North America operations, while Hartley and Jonathon oversee the company’s operations in Europe. There are other members of the Koschitzky family, but they aren’t involved in the active running of the business. Two of the main challenges affecting the export-oriented family business are the clogged border crossings to the US, and Canada’s rising dollar. Even so, this family is perched to remain a major player in the construction industry.