MONTRÉAL, April 3,
2023 /CNW/ - LOGISTEC Stevedoring Inc., a subsidiary
of LOGISTEC Corporation (TSX: LGT.A) (TSX: 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.
About LOGISTEC
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.
SOURCE Logistec Corporation