Saturday, April 25th2.5°C
25936

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




Recent Trending




Today's Market
S&P TSX15408.33+15.98
S&P CDNX697.70-1.78
DJIA18080.14+21.45
Nasdaq5092.08+36.02
S&P 5002117.69+4.76
CDN Dollar0.8210+0.0002
Gold1175.20-17.60
Oil55.50-0.88
Lumber258.50+3.90
Natural Gas2.533+0.002

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.010.00
QHR Technologies Inc1.38+0.00
Cantex0.035+0.005
Anavex Life Sciences0.43+0.01
Metalex Ventures0.095+0.000
Russel Metals27.16+0.41
Copper Mountain Mining1.15+0.06
Colorado Resources0.095+0.000
ReliaBrand Inc0.004-0.001
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.20+0.00
Decisive Dividend Corporation1.80+0.10

 



25926

FEATURED Property
2205769136-2035 Boucherie Road
2 bedrooms 2 baths
$225,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


What's your score?

There was a time when we would sit down with nothing more than a sheet of paper and a sharp pencil to do the math. Totalling our expenses and subtracting our revenue, the amount left over was the answ...


Do you dare to dream?

Photo: Thinkstock.comI have never been able to understand why some people can only see as far ahead as the end of the current day. Instead of aiming for long term goals, they just wallow in their ever...


Calling on your help!

Has the internet flattened prices as predicted? Has the internet created opportunities for your business to find higher priced markets further afield? Is posting prices on your website a good thing o...

_



26091

25289


Member of BC Press Council


25574