Montréal, Québec, April 3, 2023 – LOGISTEC Stevedoring Inc., a subsidiary of LOGISTEC Corporation (TSX: LGT.A and LGT.B), (“LOGISTEC”), a leading North American marine and environmental services provider, announced today that it has completed the previously-announced acquisition of the Canadian and U.S. marine terminal business of Fednav, including Federal Marine Terminals, Inc. and the logistics division, Fednav Direct, for a purchase price of US$105 million, subject to customary adjustments. This transaction adds 11 terminals to LOGISTEC’s network, bringing its total to 90 terminals in 60 ports across North America.
LOGISTEC Corporation is based in Montréal (QC) and provides specialized services to the marine community and industrial companies in the areas of bulk, break-bulk and container cargo handling in 60 ports and 90 terminals located in North America. LOGISTEC Corporation also offers marine transportation services geared primarily to the Arctic coastal trade as well as marine agency services to shipowners and operators serving the Canadian market. Furthermore, LOGISTEC Corporation operates in the environmental industry where it provides services to industrial, municipal and other governmental customers for the renewal of underground water mains, dredging, dewatering, contaminated soils and materials management, site remediation, risk assessment, and manufacturing of fluid transportation products. More information can be obtained on LOGISTEC Corporation ‘s website at www.logistec.com.
For further information:
Carl Delisle, CPA auditor
Chief Financial Officer
Phone: (514) 709-8822
Vice-President, Strategy and Communications
Phone: (514) 985-2337