Ryder buys Canadian port services-logistics providers

PORT COQUITLAM, B.C. — Ryder System has acquired virtually all of the assets of Transpacific Container Terminal Ltd. (TCTL) and CRSA Logistics, both of Port Coquitlam, B.C.

Also being acquired are CRSA operations in Hong Kong and Shanghai, China.

The acquisition is expected to be finalized in late November and is subject to closing conditions. Financial terms were not disclosed.

CRSA Logistics operates as a leading provider of trans-Pacific end-to-end transportation management and supply chain services for Canadian retailers, and TCTL operates a Canadian network of off-dock import/export container terminal facilities.

This strategic acquisition would add complementary solutions to Ryder’s capabilities including consolidation services in key Asian hubs, as well as deconsolidation operations in Vancouver, Toronto and Montreal. Additionally, the acquisition would increase Ryder’s presence in the Canadian retail sector, says the company.

"The addition of these well established export consolidation services and off-dock container expertise will complement Ryder’s existing transportation and logistics service offerings and contribute to our ability to grow and expand in the future," said Ryder Chairman and CEO, Greg Swienton.

Once the acquisition is finalized, Doug Stewart, President of TCTL and CRSA Logistics, and David Seath, Vice President of CRSA Logistics, will continued to lead the Canada-based and Asian operations as part of Ryder’s management.