15 December 2016 – Montréal, Québec
Logistec USA Inc. (“Logistec”), a subsidiary of Logistec Corporation [TSX: LGT.A and LGT.B], announced today that it has signed a letter of intent with Gulf Coast Bulk Equipment, Inc. (“GCBE”), a specialist in bulk cargo handling in Florida and the U.S. Gulf.
“GCBE has an excellent reputation in Florida and the Gulf region. It has also been firmly established for more than eight years at Port Manatee, which is one of Florida’s largest and fastest growing seaports, and the closest U.S. deep-water port to the Panama Canal,” said Madeleine Paquin, President and Chief Executive Officer of Logistec. “This partnership is reflective of our shared commitment to growing our business and our belief that the port infrastructure, transportation connectivity, and available capacity at Port Manatee as well as at Port Redwing at Port Tampa Bay are well suited to our customers’ needs.”
Logistec has been operating in the United States for over 20 years. Logistec and GCBE intend to consolidate and expand their bulk cargo handling services in the U.S Southeast and Gulf region. The transaction is subject to the interested parties reaching a definitive agreement.
Logistec Corporation is based in Montréal (Québec) and provides specialized services to the marine community and industrial companies. It offers bulk, break-bulk and container cargo handling in some 30 ports and 40 terminals located in eastern North America. In addition, Logistec offers marine transportation services geared primarily to the Arctic coastal trade, short-line rail transportation services, as well as marine agency services to foreign shipowners and operators serving the Canadian market.
Logistec also operates in the environmental sector where it provides services to industrial, municipal and governmental customers for the trenchless structural rehabilitation of underground water mains, regulated materials management, site remediation, risk assessment, and manufacturing of woven hoses.
A public company since 1969, Logistec’s shares are listed on the Toronto Stock Exchange (TSX) under the ticker symbols LGT.A and LGT.B. For more information, please visit www.logistec.com.
For more information:
Jean-Claude Dugas, CPA, CA
Office: (514) 985-2345
Manager, Communications and Marketing
Office: (514) 985-2380
For the purpose of informing shareholders and potential investors about the Company’s prospects, sections of this document may contain forward-looking statements, within the meaning of securities legislation, about the Company’s activities, performance and financial situation and, in particular, hopes for the success of the Company’s efforts in the development and growth of its business. These forward-looking statements express, as of the date of this document, the estimates, predictions, projections, expectations or opinions of the Company about future events or results. Although the Company believes that the expectations produced by these forward-looking statements are founded on valid and reasonable bases and assumptions, these forward-looking statements are inherently subject to important uncertainties and contingencies, many of which are beyond the Company’s control, such that the Company’s performance may differ significantly from the predicted performance expressed or presented in such forward-looking statements. The important risks and uncertainties that may cause the actual results and future events to differ significantly from the expectations currently expressed are examined under “Business Risks” in the Company’s annual report and include (but are not limited to) the performances of domestic and international economies and their effect on shipping volumes, weather conditions, labour relations, pricing and competitors’ marketing activities. The reader of this document is thus cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to update or revise these forward-looking statements, except as required by law. Additional information relating to our Company can be found on SEDAR’s website at www.sedar.com and on Logistec’s website at www.logistec.com.