MONTREAL, April 11, 2013 /CNW Telbec/ - Groupe Pétrolier Norcan Inc, La Coop fédérée and MacEwen Petroleum Inc. announce today that they have agreed to sell an equity share in Montreal's Norcan oil terminal to Irving Oil.
"We view very positively gaining Irving Oil as a new partner. We will be in an excellent position to fully maximize our operational efficiencies to the benefit of all of our stakeholders," declared Mr. Garry T. Garcin, President of Norcan Petroleum Products Inc. and its subsidiary Norcan Terminal Inc.
Commenting on behalf of La Coop fédérée, which operates the Sonic banner, the largest independent oil retailer in Quebec, Mr. Gaétan Desroches, Chief Operating Officer added: "The Norcan terminal today is a core component of our strategy acting as an important hub where the ingredients of many of our green fuels are amalgamated. This partnership with Irving Oil, a well-known partner, fits very well with our vision and will definitely make Norcan stronger both strategically and operationally.
Mr. Allan MacEwen, President of MacEwen Petroleum Inc. added: "We are thrilled to welcome Irving Oil as a partner in Norcan. Irving Oil brings a wealth of synergies to the partnership and we are confident in this major step forward for Norcan, Irving, our customers and stakeholders."
"We're very pleased to announce this new partnership with La Coop fédérée and MacEwen Petroleum," said Jonathan McKenzie, Irving Oil. "Our investment in this terminal fits well with our current growth strategy and we look forward to the opportunities this strategic partnership will represent for us and our customers in the future."
The Norcan marine terminal is strategically located in Montreal East with pipeline access to the Saint Lawrence River. The terminal has a long history dating back to 1932 of servicing customers with gasoline and distillate products year-round. The terminal has a storage capacity of 1.3 million barrels. Norcan also leases storage facilities in the Port of Quebec City to supply a full range of petroleum products to customers.
About La Coop fédérée
Founded in 1922, La Coop fédérée is the largest agri-food enterprise in Quebec and ranks amongst the 100 largest co-operatives and mutual societies in the world, across all sectors. It is owned by over 100,000 members grouped into 102 cooperatives located in several Canadian provinces. La Coop fédérée is present throughout the agri-food chain and, as well as being a wholesaler, it also provides agricultural producers with all the goods and services they require for their farming operations. The network has five brands: Elite and La Coop (animal and crop production, grain marketing), Unimat (hardware and farm machinery), Sonic (energy) and Olymel (meat processing). La Coop fédérée employs over 9,500 people with sales totaling over $5 billion. Including its affiliated network, La Coop fédérée employs almost 15,500 people with sales of $7,8 billion. www.lacoop.coop and twitter.com/LaCoop_federee.
About MacEwen Petroleum Inc.
MacEwen Petroleum Inc. is a Canadian owned and operated fuel provider that has been building and sustaining relationships for over 30 years in Ontario and Quebec. MacEwen began in 1976 as a wholesale operation serving customers in rural Ontario. For years, MacEwen supplied Maxville, Ontario and the surrounding region with gasoline, oil heating, and reliable service. Today, MacEwen proudly retains its heritage and identity as a family business. Recognized as one of Canada's leading independent petroleum products companies, MacEwen is an integrated, full-service organization with Retail, Home Comfort, Wholesale and Commercial operations catering to communities of Eastern Ontario and Western Quebec.
About Irving Oil
Irving Oil was founded in 1924 and is a privately owned regional refining and marketing company with a history of long-term partnerships and relationships. Irving Oil operates Canada's largest refinery, in Saint John, NB, which is located 65 miles north of the US border and has reached production rates in excess of 300,000 barrels per day. The refinery exports over 80 per cent of its production to the US and accounts for 75 per cent of Canada's gasoline exports to the US and 19 per cent of all US gasoline imports. In 2003, Irving Oil became the first oil company to receive a US Environmental Protection Agency Clean Air Excellence Award, for its clean gasoline. For more information about Irving Oil, visit www.irvingoil.com.
SOURCE: LA COOP FEDEREE
For further information:
Ben Marc Diendéré
Senior director, communications and Public
relations, La Coop fédérée
Twitter : @Marc_Ben
For La Coop fédérée,
Norcan Petroleum Group Inc
and MacEwen Petroleum Inc
Mobile : 514-217-8503
For Irving Oil
Carolyn Van der Veen [email protected]