March 21, 2014
MONTREAL, Nov. 22, 2013 /CNW Telbec/ - La Coop fédérée, Transit BD Inc., MGT Holdings S.A.R.L., with participation of Montreal Port Authority announce creation of strategic containerization facility, CanEst Transit Inc.
CanEst Transit Inc. will operate from the facilities of the former annex of Elevator No. 3 in the Port of Montreal. "The proximity of port facilities is a major advantage in this industry. In the end, CanEst Transit Inc. will accommodate up to 50 railway cars et will serve the markets of Quebec, Ontario, Western Canada and the US Midwest.", explainSimon Baillargeon, general manager of Grain Sector in La Coop fédérée.
"The new company, CanEst Transit Inc., intends to become the unchallenged leader in bulk warehousing and containerization services in Eastern Canada. ", add Michael Fratianni, Chief Finance Officer of MGT Holdings.
The new facility will undergo major modernization work, including the addition of specialized equipment for product cleaning, sifting, packaging and containerization, as well as handling of bulk or bagged grain and by-products to meet the export and local market needs of the new clientele who will use the Company's services. The new facility will have an initial storage capacity of 68,000 metric tonnes, divided among 56 silos of 900 tonnes each and 35 silos of 300 to 500 tonnes each. This will be ideal for identity preservation (IP) of all the products being handled there.
"La Coop fédérée, Transit BD Inc. and MGT Holdings S.a.r.l. are contributing their expertise, industry knowledge and the financing necessary for this new venture's success. We are proud that The Montreal Port Authority has pledged its support for CanEst Transit Inc.'s future developments", said Pierre Dagenais, president of CanEst Transit Inc.
The facilities are scheduled for commissioning in the second quarter of 2014.
About La Coop fédérée
Founded in 1992, La Coop fédérée is the largest agri-food company in Quebec, and ranks among the 100 largest co-operatives and mutual societies in the world, across all sectors. It is owned by more than 100,000 members grouped into 102 cooperatives located in several Canadian provinces. La Coop fédérée is present throughout the agri-food chain and, as well as being a wholesaler, it also provides agricultural producers with all the goods and services they require for their farming operations. The network has five banners: Elite and La Coop (animal and crop production, grain marketing) Unimat (hardware and farm machinery), Sonic (energy) and Olymel (meat processing). La Coop fédérée employs over 9,500 people, with sales totalling nearly $5 billion. Including its affiliated cooperatives, the La Coop network, employs over 15,500 people, with combined sales of $7.8 billion. www.lacoop.coop and twitter.com/LaCoop_federee.
About Transit BD Inc.
A holding company held by two distinct groups:
Le groupe Pierre Dagenais, composed of financiers, who are the initiators of the CanEst project. Pierre Dagenais, President of the new company, is well known in the grain industry in Quebec and Canada and has over 40 years' experience.
Beaudier Inc., a private investment company held by the Beaudoin family.
About MGT Holdings
MGT Holdings S.A.R.L. holds 80% of the shares of Montreal Gateway Terminals Partnership, which operates the Cast and Racine terminals in the Port, active in container handling in the Port of Montreal. MGT Holdings S.A.R.L. is held by Morgan Stanley Infrastructure Partners, a $4 billion infrastructure fund of Morgan Stanley Investment Management.
SOURCE La Coop fédérée
For further information:
Ben Marc Diendéré
Director of Communications, La Coop fédérée
Mobile : 514-347-5939
For more information:
La Coop fédérée
Transit BD Inc.
CanEst Transit Inc.
Chief Financial Officer