Canadian Pacific Railway Ltd. announced yesterday it has acquired Steelcare Inc., Canada’s largest steel transload facility.
The acquisition puts CP in a better position to manage its own supply chain and use in-house expertise, said James Clements, CP’s vice president of strategic planning and transportation services, in a press release.
Steelcare is a transloading and distribution hub for steel products. Its Plant Six facility in CP’s Aberdeen yard in Hamilton, Ontario, is a 168,000-square-foot facility featuring two drive-through rail and truck loading and unloading areas. Steelcare is able to handle up to 1.5 million tons of rail transload product annually.
The transaction includes TransCare Logistics Corp., Prometheus Six Inc. and East Port Warehousing & Distribution.
Projected yearly revenue as a result of the acquisition is $10 million.
. announced the opening of its new intermodal terminal in Salaberry-de-Valleyfield, Quebec.
Located in the Perron Industrial Park about 40 miles from Montreal, the $100 million facility expands the Class I’s intermodal capacity and offers Canadian customers domestic and international service that connects with the railroad’s 21,000-mile U.S. network, CSX officials said in a press release.
“Opening a terminal near Montreal creates an opportunity to build relationships with new customers on our network, expand access to new markets and improve the efficiency of the North American supply chain,” said Executive Vice President and Chief Commercial Officer Clarence Gooden.
Designed to handle 100,000 container loads annually, the 89-acre terminal features three state-of-the-art rubber-tire gantry cranes – the first of their kind at an Eastern Canadian intermodal facility, CSX officials said. The terminal also incorporates several environmentally sustainable innovations in noise abatement and downstream waterway protection.
The facility is an important addition to the railroad’s intermodal network, which features point-to-point corridor service and a hub-and-spoke model that allows the Class I to reach small- and medium-sized markets, as well as capitalize on growing intermodal demand, CSX officials said. Trains serving the Salaberry-de-Valleyfield terminal also will connect through CSX’s Northwest Ohio intermodal hub in North Baltimore.
“CSX continues to invest in our intermodal business as a key growth driver and we look for long-term opportunities, such as increased north-south trade access outlined by the North American Free Trade Agreement,” said Gooden.
For more information on the Salaberry-de-Valleyfield terminal and CSX’s intermodal strategy, read this cover story from Progressive Railroading’s October 2014 issue.
Looking for a life outside FACEBOOK? Look to FAIR PROMISE