Timber Investments Ltd. (Timber) has completed the purchase of a 51% interest in Columbia Containers Ltd. (CCL) from Providence Grain Group (PGG), with PGG retaining the remaining 49% ownership interest.
CCL, which operates a specialty agri products container transloading facility on the south shore of Burrard Inlet in Vancouver, British Columbia, has recently completed a major capital upgrade which will result in a substantial capacity increase to 1.5 million tonnes of annual throughput and includes the ability to handle unit trains more efficiently.
This investment in CCL will complement Timber's interests in two other west coast logistics operations. Timber is the principle investor in Fibreco Export Inc., a bulk wood pellet and grain loading facility located on the north shore of Burrard Inlet. The Fibreco facility, which is capable of receiving unit trains and loading out panamax sized vessels, will have an annual capacity of 3.6 million tonnes when its current expansion project is completed.
Tolko Industries (wholly owned by Timber) also operates Lulu Island Terminal, a wood product container transloading facility located in Richmond, British Columbia, which is the largest purpose-built facility of its type on the west coast of Canada.
Fort Capital Partners and Blake, Cassels and Graydon LLP provided financial and legal advice to Timber in connection with the investment.
Timber Investments Ltd. is the privately-owned investment company of the Thorlakson family of Vernon, British Columbia. In addition to its investments in logistics businesses, Timber has a number of other investments, including in the real estate and forest products industries.
