Image Credit: Ashcroft Terminal

By James Peters

Ashcroft Terminal

Canadian Tire buys 25 per cent stake in Ashcroft Terminal

Aug 18, 2021 | 11:07 AM

ASHCROFT, B.C. — A prominent Canadian retailer is buying a stake in Ashcroft Terminal.

A news release on Ashcroft Terminal’s website says Canadian Tire Corporation has acquired a 25 per cent stake in the transportation hub.

The terminal’s controlling company, PSA International, will retain a 60 per cent ownership and will continue on as operator. The remaining 15 per cent will be held by CrescentView Investments, a founding partner in the inland port.

Canadian Tire Chief Supply Chain Officer Paul Draffin says the partnership will set up the retailer for better performance in the long term.

“This investment will drive improvements in our network lead time and fulfillment 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,” said Draffin in the release.

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Terminal CEO Enno Koll says Canadian Tire’s investment will allow the facility to further “invest in infrastructure and capacity growth for the long-term, benefitting all of its customers.”

Ashcroft Terminal bills itself as the only privately-held industrial property in the country that has both national railway main lines running through it.

Image Credit: Ashcroft Terminal