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CP Ships Closes on Acquisition of ROE Logistics
| 02.04.04 LONDON, UK (02 April 2004) - CP Ships Limited, one of the world's leading container shipping companies, has closed on its acquisition of Montreal-based ROE Logistics, first announced on 23rd March 2004. The acquisition of ROE is part of CP Ships' plan to selectively develop logistics services as a way of leveraging strong regional positions and adding value to core container services. ROE is a family-owned business founded in 1979 and has offices in Montreal, Toronto, Calgary and Vancouver with gross revenues (excluding customs duty and tax) of US$ 27 million. It specializes in providing a range of freight forwarding, customs brokerage, logistics, warehousing and distribution services. Robert Elvidge, founder and current owner, will remain as CEO. -ends- |
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