Winnipeg firm Cando Rail and Terminals has acquired Enterprise's train terminal from AWP Industries, it was announced in a Nov. 20 news release.
“AWP’s terminal was another perfect fit for Cando,” said Cando president and CEO Brian Cornick. “Brad Mapes, the founder and CEO of AWP, has done a tremendous job over the last few years turning undeveloped land into a fast-growing rail terminal serving several of North America’s largest shippers. We are excited to partner with Brad to continue growing the site and providing critical supplies to the North while supporting several of Cando’s largest customers, as well as CN.”
The sale price was not revealed.
"We can’t disclose any financial aspects of the deal," Cando stated.
The news release referred to the Enterprise facility as "a first-class private rail car storage and transload terminal" that is "strategically located at the northern terminus of CN’s rail network and serves as a critical gateway to transport bulk products to support communities, airports, mines and governmental agencies in the North. The recently-built terminal "has substantial capacity for future growth," the new owner added, and could offer "a more economical and environmentally-friendly alternative to long-haul trucking."
Mapes will join Cando as an employee and shareholder, and will focus on driving business through the new terminal.
"I am excited to partner with Cando and leverage its scale, access to capital, world-class operations and deep customer relationships to accelerate and expand my vision for the terminal,” said the former Hay River mayor.
Founded in 1978, Cando refers to itself as "one of North America’s largest owners and operators of first and last mile rail infrastructure."
With its purchase of the Enterprise terminal, it now has the capacity to stage and store more than 11,000 rail cars.
