16:39:57 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Westshore Terminals Investment Corp
Symbol WTE
Shares Issued 73,267,154
Close 2017-05-19 C$ 19.36
Market Cap C$ 1,418,452,101
Recent Sedar Documents

Globe says Pattison doubles down on Westshore bet

2017-05-23 08:02 ET - In the News

The Globe and Mail reports in its Monday edition that Jim Pattison has increased his bet on a shipping terminal that has been rocked by the threat of an export ban on thermal coal. The Globe's Brent Jang writes that Mr. Pattison is already the largest shareholder in Westshore Terminals Investment, which runs the coal-export terminal south of Vancouver. He acquired another 724,600 Westshore shares over the course of four business days from May 4 to the May 9 provincial election date. Mr. Pattison, 88, has nearly doubled his stake in Westshore over the past five years. Mr. Pattison now owns nearly 21.6 million shares valued at $418-million, or a 29.5-per-cent interest in Westshore. B.C. Premier Christy Clark wrote a letter to Prime Minister Justin Trudeau on April 26, asking him to prohibit exports of thermal coal from B.C. ports. Earlier, Ms. Clark called thermal coal "filthy." Westshore has sent a letter to Mr. Trudeau, urging him to reject Ms. Clark's request for the ban. "Banning U.S. coal through B.C. ports will have no impact on thermal-coal consumption globally," Westshore said in a statement. "Power plants will source the coal elsewhere and Canada will lose the economic benefits to other countries."

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