| Company type | Public listed on the TSE |
|---|---|
| Industry | Real estate development, Petroleum industry, Lumber and building supplies, Consulting engineering, Mortgage financing |
| Founded | Calgary, Alberta, Canada |
| Founder | Ralph T. Scurfield and Chesley J. McConnell |
| Defunct | yes |
| Headquarters | , |
Area served | Canada and United States |
Key people | Ralph T. Scurfield (President & CEO) Chesley J. McConnell President of McConnell Homes Ltd. Sydney Kahanoff CEO of Voyager Petroleums Ltd. H. Earl Joudrie President of Voyager Petroleums Ltd. Harris G. Field, Q.C. Partner of Field & Field |
| Revenue | CAD619.3 Million (total revenue)(FY 1979) |
| Total assets | CAD1.3 Billion(FY 1979) |
Nu-West Group Ltd. was a Canadian growth-oriented house building company that grew into an internationally diversified conglomerate.
In 1957 Nu-West Homes was a small, privately owned, house-building company operating in Calgary, Alberta. In 1969, Nu-West Homes Ltd. became a publicly traded company and was listed on the Toronto Stock Exchange. By 1981 Nu-West Group Ltd. had become the largest house-building company in Canada, with diversified asset holdings of $1.9 billion, and over 3,700 employees. The company was heavily leveraged with debt used to purchase vast holdings of real estate throughout Canada and the United States. This debt, combined with the recession of the early 1980s that saw land values tumble, resulted in Nu-West losing its place of dominance in the industry.