Thursday, April 17th13.0°C
21417
20740

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

20150


Recent Trending




Today's Market
S&P TSX14500.39+53.87
S&P CDNX998.770.80
DJIA16408.54-16.31
Nasdaq4095.516+9.291
S&P 5001864.85+2.54
CDN Dollar0.9083+0.0005
Gold1293.80-9.2999
Oil104.53+0.77
Lumber326.10-2.70
Natural Gas4.731+0.201

 
Okanagan Companies
Pacific Safety0.115+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.29+0.07
Cantex0.055+0.01
Anavex Life Sciences0.3750.00
Metalex Ventures0.08+0.005
Russel Metals30.66+0.11
Copper Mountain Mining2.35-0.07
Colorado Resources0.255-0.01
ReliaBrand Inc0.12-0.01
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.25+0.02

 
19691


21115

FEATURED Property
1871679426 Tulameen Rd
5 bedrooms 5 baths
$629,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Time spent prospecting

How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...


Valuation fears grip markets

The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...


Quick and nimble

Photo: ContributedFor many businesses this has been a tremendously difficult time since the 2008 crisis. Business fell off. Sales techniques that always worked, well… stopped working. Customers...

_



21604

21604


Member of BC Press Council


21188