Business
Horizon North Logistics Inc. Announces 2019 Capital Spending Plan
Horizon North Logistics Inc. Announces 2019 Capital Spending Plan Canada NewsWire ...
About this update from Dexterra Group, Inc.
[{"type":"text","content":"\n\n\n\nHorizon North Logistics Inc. Announces 2019 Capital Spending Plan\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\nCanada NewsWire\nCALGARY, Dec. 13, 2018\n\n\n\nCALGARY, Dec. 13, 2018 /CNW/ - Horizon North Logistics Inc. (\"Horizon North\" or the \"Corporation\") (TSX: HNL.TO) announced today the Corporation's 2019 capital spending plan.\n\n \n \n\n \nHorizon North exits 2018 with a strong balance sheet and believes it is well positioned to continue advancing key strategic initiatives while executing an expanded but disciplined capital investment program in 2019. The Corporation plans to invest approximately $50 million in gross capital expenditures in 2019 in a phased approach throughout the year.\nHorizon North will allocate approximately $25 million to the development of its previously announced Crossroads Lodge open camp located in Kitimat, British Columbia. This project is the first stage of development of Horizon North's 57-acre land position within the District of Kitimat which will be focused on supporting liquefied natural gas (\"LNG\") and other industrial development in the area. The project is garnering significant customer support with the first phase of operational occupancy expected in early 2019.\nHorizon North intends to allocate the balance of the capital plan to the expansion of its Modular Solutions division and replenishment and growth of its Rentals and Logistics asset profile, including rental mats to support incremental customer demand, as well as transportation and logistics fleet assets.\nAbout Horizon North\nHorizon North is a publicly listed corporation (TSX: HNL.TO) providing a full range of industrial, commercial, and residential products and services. Our Industrial Services division supplies workforce accommodations, camp management services, access solutions, maintenance and utilities. Our Modular Solutions division integrates modern design concepts and technology with state of the art, off-site manufacturing processes; producing high quality building solutions for commercial and residential offerings including offices, hot...