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VANCOUVER, B.C. — BCR Marine and the Vancouver Port Authority (VPA) have inked a 21-year lease, which sets the stage for over $16 million in investments.

The lease also paves the way for BCR to increase their container handling capacity at Centerm by 25 per cent.

"This long-term lease creates the stability we need to invest in additional equipment and capacity. More capacity will improve customer service and keep the facility at the leading edge in the maritime cargo industry," said Bill Weymark, president and CEO of BCR Marine.

Although the current lease runs through 2007, BCR and VCA officials were anxious to get the new lease finalized ahead of time.

"The signing of this lease demonstrates a renewal of our excellent working relationship with BCR Marine," said Gordon Houston, VPA president and CEO. "It also signals a revitalization of Centerm so that together we can offer even better value to all our customers."

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