Logistec Corporation

Logistec Corporation

January 19, 2010 11:32 ET

Logistec USA and HRK Holdings to Jointly Develop Bulk Handling Business in Port Manatee, FL

MONTREAL, QUEBEC--(Marketwire - Jan. 19, 2010) - Logistec USA Inc., a wholly owned subsidiary of Logistec Corporation (TSX:LGT.A)(TSX:LGT.B), is pleased to announce that it has entered into a long-term agreement with HRK Holdings, LLC for the handling of fertilizers and other bulk materials in Port Manatee, FL.

HRK will develop a new distribution centre for their fertilizer and bulk import customers in central Florida and will use the services of Logistec at Port Manatee. "Logistec is proud to have been selected as partner to HRK in providing cargo-handling services at this strategically-located port facility. This new customer allows us to expand the scope of products handled and will form the base for new bulk business in Port Manatee," said Madeleine Paquin, President and CEO of Logistec Corporation. This service is expected to commence in the spring of 2010.

Logistec has been active in Port Manatee for over five years and currently handles both stevedoring and terminal operations for Del Monte's fresh fruit, as well as other general and project cargo.

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 23 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). Logistec also offers agency services to foreign shipowners and operators serving the Canadian market; as well as marine transportation services geared primarily to the Arctic coastal trade. Furthermore, the Company operates in the environmental sector where it provides services for the trenchless structural rehabilitation of water mains, PCB management, site remediation, risk assessment and fire-hose manufacturing. 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'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.

About HRK Holdings, LLC

HRK Holdings, LLC, is a Florida-based industrial development company. With approximately 700 acres of heavy-industrial zoned property contiguous to Port Manatee, HRK is developing its property for multimodal port and industrial sale/lease and build to suit opportunities. Some of HRK's more recent business has been in bulk storage and handling business and has recently signed a multiyear agreement with a major fertilizer company for the throughput of fertilizer cargoes.

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