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Ashcroft Terminal Signs Investment Agreement with Canadian Tire Corporation
Ashcroft Terminal Signs Investment Agreement with Canadian Tire Corporation Can...
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[{"type":"text","content":"\n \n \n \n Ashcroft Terminal Signs Investment Agreement with Canadian Tire Corporation\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Aug. 12, 2021\n \n /CNW/ - Ashcroft Terminal Limited has signed an Investment Agreement with Canadian Tire Corporation (TSX:CTC) (TSX: CTC.A) in which the latter will acquire a 25 percent equity interest in the company. PSA International Pte Ltd will continue as the operator and retain a majority interest of 60 percent, with the remaining 15 percent interest held by founding partner CrescentView Investments Ltd.\n \n \n Ashcroft Terminal Limited is an inland port facility located approximately 300 kilometres east of\n \n Vancouver\n \n in\n \n British Columbia\n \n . It is the only major privately-owned industrial property in\n \n Canada\n \n where both Class 1 railroad lines – Canadian National Railway and Canadian Pacific Railway – run through, transporting import and export cargoes to and from the marine terminals in\n \n Vancouver\n \n , across\n \n Canada\n \n and other North American markets. In addition to its unique rail connectivity, Ashcroft Terminal is located close to\n \n British Columbia's\n \n major highways that serve much of the province's resource industries.\n \n \n The partnership with Canadian Tire now allows Ashcroft Terminal to further invest in infrastructure and capacity growth for the long-term, benefitting all of its customers. Ashcroft Terminal has become a hub to serve the needs of a broad range of industries and customers moving their products by rail. Canadian Tire will further diversify the customer base and enable Ashcroft Terminal to develop tailored solutions for retailers in\n \n North America\n \n , while continuing to grow its service offerings to bulk customers. The terminal is well-positioned  to offer resilience in the supply chain of Canadian Tire and its other customers.\n \n \n Ashcroft Terminal will also continue to bring long-term growth, employment and training opportunities and growth to the local comm...