b'LOGISTEC SEES STRONG OUTLOOK FOLLOWING FMT ACQUISITIONFMT large terminal at Port of Hamilton on Lake Ontario, part of LOGISTECs By Leo Ryan, AJOT acquisition. Photo courtesy of Fednav.March 2023 | Published in AJOT Issue #751The recent acquisition of the Canadianinkeymarkets.Wewillleveragethegoes,LOGISTECsaiditwasconfident and U.S. terminal business of Fednav Lim- strength of our terminal reach to supportwith the remainder of the year given the ited has added a major new dimension toreliable supply chains for our customersdiverse nature of the products we handle the operations of Montreal-based LOGIS- and continue to drive growth. and the breadth of our network reach, we TEC Corporation that Madeleine Paquin,During the first quarter of 2023, consol- are able to adjust to market fluctuations president, and CEO, regards as a buildingidated revenue totalled$158.9 million, anand are optimistic about sales volumes block to a strong future in the North Amer- increase of$17.5 millionor 12.3% over thegoing forward. With 11 additional termi-ican marine industry. same period in 2022. Revenue from thenals from our FMT acquisition, we are well ItwasonApril3thatLOGISTECSte- marine services segment reached$121.5prepared to deliver operational excellence vedoring,asubsidiaryoftheparentmillionin 2023, up$9.8million or 8.7%to marine shippers acrossNorth America.company,completedthepurchaseforcomparedwith $111.7million fortheTheoutlookfor2023ispositive US$105 million of Federal Marine Termi- comparativeperiodof2022.Revenuewithgoodmomentumforbothour nals,therebyacquiring11terminalsonfrom the environmental services segmentmarineandenvironmentalsegments, the U.S. East Coast, the Great Lakes andwas$37.4 million, up$7.7 millionor 25.8%concluded MadeleinePaquin.Wewill Gulfhandlingbulk,breakbulk,containerin the first quarter of 2023. be focusing on a smooth integration of and project cargo. With the biggest trans- Themarineservicessegmentcontin- our FMT acquisition, while offering new action in its history of more than 70 years,ued to see strong demand in the energyoptionstocustomersandconnecting LOGISTEC has expanded its total networksector in the U.S. Gulf Coast region, whichthem to broader markets.As mentioned, to 90 terminals in 60 ports. These includecompensated for the slower start to thealthoughweareseeingaslowdownin formerFMTterminalsinsuchportsasyear in other ports. containers during the first quarter, we do Hamilton,BurnsHarbour,Milwaukee,In terms of containers, LOGISTEC notedexpect volumes to return to more stable Eastport (Maine), Port Manatee, Tampa,its terminals suffered from lower volumes,levels,albeitwithsubstantiallyreduced and Lake Charles. which could be explained by substantialstoragerevenue.Thestrengthofour While commenting on Q1 2023 financialinventories in the retail market. These areactivities in the U.S. Gulf is expected to resultsfromthecompanysmarineandlargely being depleted and the companycontinue and should make up for some environmental services, Madeleine Paquinexpectsvolumestoresumeatmoreexpected shortfalls in other general cargo indicatedthattheacquisitionallowednormal levels in the coming quarters. and bulk terminals.LOGISTEC to gain a significant footholdWith respect to bulk and general car-22'