CP buys Steelcare

by MM&D Online Staff

CALGARY, Alberta—Canadian Pacific Railway Limited has bought Steelcare Inc, Canada’s largest steel transload facility. The transaction includes TransCare Logistics Corporation, Prometheus Six Inc and East Port Warehousing & Distribution.

“CP is committed to exceptional customer service and with direct ownership of Steelcare, we are better equipped to manage our own supply chain and utilize our in-house expertise,” said James Clements, CP’s vice-president of strategic planning and transportation services.

Steelcare is a transload and distribution hub providing transloading, warehousing and distribution services of steel products. Steelcare’s Plant Six facility in CP’s Aberdeen yard in Hamilton, Ontario, is a 168,000-square-foot facility with two drive-through rail and truck loading and unloading areas. Steelcare is able to handle up to 1.5 million tons of rail transload product in a given year.

Projected yearly revenue as a result of the transaction is approximately $10 million.

The intent is to keep the current management structure and employees in place. Clements will also serve as Steelcare’s executive vice-president.

See previous MM&D coverage here.