Extended handling agreement with Teck Coal
VANCOUVER, Sept. 19, 2012 /CNW/ - Westshore Terminals Investment Corporation (TSX: WTE.UN) (the "Corporation") is pleased to announce today that Westshore Terminals Limited Partnership has reached an agreement with Teck to extend the parties' current agreement (previously set to expire March 31, 2016) for an additional five year term, and now set to expire April 1, 2021.
This extended contract will require Teck to ship coal volumes from it various mines, of not less than 16 million tonnes and up to 19 million tonnes per coal contract year, all at fixed rates through Westshore.
Denis Horgan, General Manager of Westshore Terminals Limited Partnership commented: "This agreement underscores the importance of the long term Teck-Westshore relationship and marks another important and positive step between the two organizations for future."
The foregoing statements concerning tonnages, coal prices, loading rates, taxation and variability of distributions are forward-looking statements but reflect the current expectations of the Fund and Westshore with respect to future events and performance. Wherever used, the words ''may,'' ''will,'' ''anticipate,'' ''intend,'' ''expect,'' ''plan,'' ''believe,'' and similar expressions identify forward-looking statements.
Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at which, such performance or results will be achieved. Forward-looking statements are based on information available at the time they are made, assumptions made by management, and management's good faith belief with respect to future events.
SOURCE: Westshore Terminals Investment CorporationFor further information: