NORTH VANCOUVER, B.C. — The effort to restructure Crown Corporations in B.C. has led the BCR Group to shed its BCR Marine division.
The BCR Group, which also runs B.C. Rail, has decided to sell off BCR Marine to reinforce the long-term growth potential of its marine division.
"We believe BCR Marine has an exciting future but requires an expanded capital base to achieve its growth objectives," says John McLernon, chairman of the BCR board. "We are confident that with the right ownership structure, the company can become a stronger international player."
Under new ownership, the company will ideally be able to expand and leverage its position in the marketplace, adds McLernon. The move is also aimed at focusing resources towards core business operations in order to continue building shareholder value.
BCR Marine includes Canadian Stevedoring, Casco Terminals and Vancouver Wharves.
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