Ashcroft Terminal has signed an Investment Agreement with Canadian Tire – which operates a group of companies in the retail, financial and automotive sectors – in which the latter will acquire 25 per cent equity interest in Ashcroft Terminal. PSA International will continue as the terminal operator and retain a majority interest of 60 per cent. The remaining 15 per cent interest is held by founding partner CrescentView Investments.

CEO of Ashcroft Terminal and Regional Head of PSA Americas Enno Koll said: “We are excited that Canadian Tire, the single largest container importer in Canada, is joining forces with PSA and Ashcroft Terminal to form a long-standing partnership. We have the potential to increase the efficiency and sustainability of the supply chain for containers imported and exported through marine terminals in Vancouver. Ashcroft Terminal facilitates the shift from truck to rail and significantly reduces the movement of trucks in the busy Metro Vancouver area.”

This partnership will allow Ashcroft Terminal to further invest in infrastructure and capacity growth for the long term, benefitting its customers, further boosting its ability to bring long-term growth, employment and training opportunities to the local communities.

For more information, please click HERE for the press release.