Business
Horizon North Logistics Inc. Announces COVID-19 Response Including Reductions to 2020 Capital Spending Program and Other Costs and Reiterates Commitment of All Parties to Transaction with Dexterra and Fairfax Financial
Horizon North Logistics Inc. Announces COVID-19 Response Including Reductions to 2020 Capi...
About this update from Dexterra Group, Inc.
[{"type":"text","content":"\n\n\n\nHorizon North Logistics Inc. Announces COVID-19 Response Including Reductions to 2020 Capital Spending Program and Other Costs and Reiterates Commitment of All Parties to Transaction with Dexterra and Fairfax Financial\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, March 26, 2020\n\n\n\nCALGARY, March 26, 2020 /CNW/ - Horizon North Logistics Inc. (\"Horizon North\" or the \"Corporation\") (TSX: HNL.TO) provided a series of announcements today in response to the COVID-19 pandemic and other global commodity conditions, and provided an update on the Corporation's previously announced agreement with 10647802 Canada Limited, operating as Dexterra Integrated Facilities Management (\"Dexterra\").\n\n \n \n \n \n \n \n\n \nThe Global Environment\nLike many other businesses, Horizon North is being challenged by the global uncertainty surrounding the COVID-19 pandemic and diminished commodity prices. Horizon North's Board of Directors and management team have been closely following these events and remain focused on keeping the Corporation's employees and customers safe, prioritizing cash flow and responding to customers' needs. In response to the current global environment, Horizon North is taking a series of steps to help mitigate the negative impacts of these events, including the previously announced pause in the Corporation's dividend to improve financial flexibility and exercise fiscal prudence.\nOur Response to COVID-19\nHorizon North continues to support customers, partners and local communities through the Corporation's Industrial Services and Modular Solutions businesses. In doing so, Horizon North continues to make the safety of employees and customers its top priority and has taken several measures to address the challenges presented by COVID-19, including:\nRegular communication with Horizon North employees with regard to the COVID-19 situation and steps being taken to mitigate risk, including online training on COVID-19 response; Physical distancing of all employees, customers and guests at the Corporation's facilities in acc...