TORONTO, Feb. 13 /CNW/ - Chemtrade Logistics Income Fund (TSX: CHE.UN)
and Chemtrade Logistics Inc. (collectively, "Chemtrade") and Marsulex Inc.
(TSX: MLX) have reached an out-of-court settlement of their respective claims
relating to disputes that arose following Chemtrade's acquisition of Peak
Sulfur, Inc. and Peak Chemical, LLC in August 2005.
In a joint statement, Mark Davis, President & CEO of Chemtrade, and
Laurie Tugman, President and CEO of Marsulex, said they were pleased that the
issues have been resolved amicably on a basis acceptable to both
organizations. Marsulex and Chemtrade did not disclose the details of the
settlement but agreed that the settlement was mutually beneficial and included
minor revisions to their existing commercial arrangements.
Chemtrade operates a diversified business providing industrial chemicals
and services to customers in North America and around the world. Chemtrade is
one of the world's largest suppliers of sulphuric acid, liquid sulphur dioxide
and sodium hydrosulphite, and a leading processor of spent acid. Chemtrade is
also a leading regional supplier of sulphur, sodium chlorate, phosphorous
pentasulphide, and zinc oxide.
Marsulex, which is based in Toronto, Ontario, is a leading provider of
industrial services, including environmental compliance solutions for air
quality control, processing or handling of industrial by-products or waste
streams, and is a producer and marketer of sulphur-based industrial chemicals.
Marsulex's services and products are provided to a broad base of industrial
customers in a wide range of industries.
For further information:
For further information: Mark Davis, President & CEO, Chemtrade
Logistics Income Fund, Tel: (416) 496-4176; Laurie Tugman, President & CEO,
Marsulex Inc., Tel: (416) 496-4157