Friday, May 29th23.0°C
25412
24291

Feds to sell BC coal terminal

Ridley Terminals Inc., a B.C. coal and bulk commodities port that politicians have said is an important piece of Canada's gateway to Asia, is being sold off by the federal government.

The Crown asset in Prince Rupert is considered a world leader in transferring cargo from railcars to large ships for export.

Minister of State for Finance, Ted Menzies, says the decision to sell the terminal was part of the government's review of corporate assets.

The terminal was recording losses in four of five years leading up to 2006 and required millions in support before the government stopped the privatization of the terminal.

Last year, the terminal broke records in revenues, profits and volume, signed 11 new contracts and reduced its debt by 70 per cent.

Menzies says the government will make sure that Canadian taxpayers get maximum value, while ensuring that any buyer continues to operate Ridley on an open-access, commercial basis.

The Canadian Press
How does this story make you feel? (488 total votes)
Castanet MoodMeter
Angry
75.0%
Happy
8.6%
Sad
0.8%
Disappointed
1.8%
Informed
4.3%
Skeptical
9.4%


Read more Business News

26416


Recent Trending




Today's Market
S&P TSX15026.90-80.08
S&P CDNX691.35-0.81
DJIA18036.07-90.05
Nasdaq5078.67-19.31
S&P 5002110.24-10.55
CDN Dollar0.8040-0.0006
Gold1187.40-16.90
Oil60.99+2.62
Lumber273.70+1.20
Natural Gas2.81-0.01

 
Okanagan Companies
Pacific Safety0.14+0.01
Knighthawk0.010.00
QHR Technologies Inc1.48+0.00
Cantex0.03+0.00
Anavex Life Sciences0.385-0.015
Metalex Ventures0.07-0.01
Russel Metals25.09-0.11
Copper Mountain Mining1.27-0.03
Colorado Resources0.10+0.00
ReliaBrand Inc0.0224+0.0095
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.15-0.00
Decisive Dividend Corporation2.10+0.16

 



25185

FEATURED Property
2297632447 Lakepointe Drive
4 bedrooms 3 baths
$795,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Yard sale pricing

Photo: Thinkstock.comI have deliberately abridged this household tips article to illustrate pricing strategies. "Tips For Pricing Yard Sale Items” was written by Lynnette Walczak, and publi...


What's a robo-advisor?

Photo: ContributedIt can only be attributable to human error. -Hal, 2001: A Space Odyssey For most of us who are within thinking distance of retirement, the term “robo” conjures up image...


Cash stressed seniors

Photo: Thinkstock.comFor many Canadian homeowners, their house represents the biggest portion of their net worth. Now, increasing numbers of seniors are starting to recognize the hidden value of their...

_





26418


Member of BC Press Council


26316