Champion Iron Limited announced that Québec Iron Ore Inc., a wholly-owned subsidiary of the Company, has entered into an Asset Purchase Agreement to acquire, subject to Court approval, the Bloom Lake Mine and related rail assets and the Quinto Mining Corporation mineral claims in Québec from affiliates of Cliffs Natural Resources Inc. Champion, through Québec Iron Ore Inc., bid for Bloom Lake under the sale and investor solicitation procedures in June of 2015 as part of the CCAA restructuring proceedings of the Bloom Lake CCAA Parties commenced in January 2015. Champion’s bid was chosen as the preferred bid by the Bloom Lake CCAA Parties, in consultation with Moelis and the Monitor, and was formalized with the signing of the Asset Purchase Agreement.
Canadian International Freight Forwarders Association (CIFFA) recently announced its new Donna Letterio Leadership Award. This new award will be granted annually in memory of past CIFFA President Donna Letterio, who passed away in August 2013. The award recognizes a woman in the global freight logistics sector who has demonstrated, as Donna did, professionalism, commitment, leadership and a passion for excellence in her career and in her life.
Hamilton Port Authority welcomes the announcement of a new flour mill to be constructed by Parrish & Heimbecker Ltd. at its port. Ontario Minister of Agriculture, Food and Rural Affairs, Jeff Leal, announced a provincial package of grants and loans of $5 million toward the construction of the new mill. The new state-of-the-art bulk mill will enable the company to process 25 per cent more grain, and help increase the company’s intake of Ontario wheat by over 10 per cent annually. P&H Milling is investing $40 million toward the new mill.
Under a new long-term contract with Amsted Rail, a manufacturer of railway wheel equipment, Amsted will produce one million wheels for use at CN’s Transcona mechanical facility. The new wheels will be produced using 100 per cent recycled steel over the next 10 years at Griffin Wheel Company in Winnipeg, one of Amsted Rail’s five wheel manufacturing plants in North America and the only one in Canada.
“CN has a long and successful partnership with Amsted Rail and its Griffin Wheel Company facility in Winnipeg,” said Gerry Weber, Vice-President Supply, Fleet and Fuel Management of CN. “We are pleased to renew our partnership and solidify CN’s business relationships in the city of Winnipeg.”
Winnipeg is home to CN’s Transcona Shops, where wheels are mounted on axles and become wheelsets installed on freight cars moving on CN’s rail lines. The city is also home to Symington Yard, one of CN’s largest rail car switching facilities, and CN Campus, a state-of-the-art national employee training centre that opened last year.
After having set sail from its shipyard in China in early November, Atlantic Star, the first of five new vessels in ACL’s G4 fleet joined ACL’s transatlantic service in December, and sailed into Halifax Harbour on January 6. From Halifax, Atlantic Star will sail to the ports of New York and New Jersey, Norfolk and Baltimore.