PSA International Pte Ltd (PSA) will continue as the operator and retain a majority interest of 60%, with the remaining 15% interest held by founding partner CrescentView Investments Ltd.
“We are excited that Canadian Tire, the single largest container importer in Canada, is joining forces with PSA International and Ashcroft Terminal to form a long-standing partnership,” said Enno Koll, CEO, Ashcroft Terminal and regional head of PSA Americas.
“We have the potential to increase the efficiency and sustainability of the supply chain for containers imported and exported through the marine terminals in Vancouver. Ashcroft Terminal facilitates the shift from truck to rail and significantly reduces the movement of trucks in the busy Metro Vancouver area,” he added.
By partnering with Canadian Tire, Ashcroft Terminal is able to further invest in infrastructure and capacity growth for the long-term, benefitting all of its customers, it said. Ashcroft Terminal has a hub to serve the needs of a broad range of industries and customers moving their products by rail.
Canadian Tire will help to further diversify its customer case and enable the terminal to develop tailored solutions for retailers in North America, while continuing to grow its service offerings to bulk customers.
“We are pleased to be partnering with PSA, a global leader in port terminal operations, to enhance our long-term supply chain capabilities and flexibility,’ commented Paul Draffin, chief supply chain officer at Canadian Tire Corporation. “This investment will drive improvements in our network lead time and fulfilment performance, which are core to our domestic supply chain strategy, while reducing our carbon emissions by shifting volume from trucks to rail in Western Canada.”
“Having strategic access to high-demand capacity will enable greater control over our end-to-end supply chain, which has become increasingly critical in a time where global supply chains have been completely disrupted and new resiliency is required,” added Draffin.
Ashcroft Terminal, in operation since 2001, is British Columbia’s largest inland port and is uniquely positioned to provide sustainable solutions for importers and exporters through dedicated infrastructure and direct access to CP and CN Rail mainlines.
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