Logistec Acquires Gulf Stream Marine
Logistec Corporation announced the expansion of its network of terminals through the strategic acquisition of Gulf Stream Marine. This transaction will allow Logistec to establish a stronghold in the U.S. Gulf, strengthen its position in a high-growth market in the United States, provide access to an experienced talent pool, facilitate knowledge transfer between the two organizations, and generate immediate positive benefits to shareholders. This acquisition also represents a major expansion of our network of terminals in the USA. With Gulf Stream Marine's 10 terminals in 5 ports, Logistec's cargo handling activities now cover 58 terminals in 35 ports in North America.
Port Executive Program Welcomes New Members
The CPE Certified Port Executive Program welcomed four new graduates at the completion of their program in Ottawa September 21, 2012. The new graduates join alumni of over 100 port, transportation and military personnel who have participated in the program since its creation in 2010. This port management program is a five day course designed to provide participants with a professional education opportunity related to the operations of ports, vessels, marine terminals and the related transportation system.
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. (www.logistec.com)
