Logistec Corp. Acquires Rideau Bulk
Logistec Corporation (TSX:LGT.A)(TSX:LGT.B), a diversified cargo handler in eastern Canadian and U.S. ports, announced that it has acquired, through its wholly-owned subsidiary, Logistec Stevedoring Inc., 100% of the issued and outstanding shares of Les Terminaux Rideau Bulk Terminals Inc.
Rideau Bulk operates in four ports along the St. Lawrence Seaway located between Montreal (QC) and Toronto (ON). It also operates two inland terminals in the Ottawa (ON) region. Its main activity is to receive road salt from self-unloaders, and occasionally from bulkers, and do the stockpiling, storage and truck loading for the three major salt companies serving eastern Canada.