Logistec Corporation
TSX : LGT.A
TSX : LGT.B

Logistec Corporation

October 26, 2009 10:56 ET

Logistec Corporation Acquires Les Terminaux Rideau Bulk Terminals Inc.

MONTREAL, QUEBEC--(Marketwire - Oct. 26, 2009) - Logistec Corporation (TSX:LGT.A)(TSX:LGT.B), a diversified cargo handler in eastern Canadian and U.S. ports, today 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").

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.

"Primarily handling salt, Rideau Bulk's operations are a natural fit to Logistec's network of terminals," commented Madeleine Paquin, President and Chief Executive Officer of Logistec Corporation.

About Logistec

Logistec Corporation is based in Montreal (QC) and provides specialized services to the marine community and industrial companies in the areas of container, break-bulk and bulk cargo handling at 20 ports in Eastern Canada, the Great Lakes and the U.S. East Coast; including a short-line railway linked to a coal-handling operation in Cape Breton (NS); agency services to foreign shipowners and operators serving the Canadian market; marine transportation services geared primarily to the Arctic coastal trade; and PCB management, site remediation, trenchless structural rehabilitation of watermains, and risk assessment. The Company has been profitable and has paid regular dividends since becoming public and payments have grown steadily over the years.

A public company since 1969, Logistec Corporation's shares are listed on the Toronto Stock Exchange under the ticker symbols LGT.A and LGT.B. More information can be obtained at the Company's website at www.logistec.com.

Contact Information

  • Logistec Corporation
    Jean-Claude Dugas CA
    Vice-President, Finance
    514-985-2345
    jdugas@logistec.com