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Chemtrade Logistics Income Fund
Symbol CHE
Shares Issued 92,596,006
Close 2020-02-18 C$ 8.49
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Globe says Chemtrade feels pinch of illegal blockades

2020-02-19 07:55 ET - In the News

Also In the News (C-TRP) TC Energy Corp

The Globe and Mail reports in its Wednesday edition that businesses increased pressure Tuesday on the federal government to end blockades by protesters opposed to the B.C. Coastal GasLink development amid reports of choking ports and factories reaching a critical stage of paralysis. A triple bylined item in The Globe reports that a coalition of business groups and Canadian Manufacturers and Exporters issued calls for an immediate end to the shutdown of CN Rail's main line through Ontario after two weeks of blockades. As of Tuesday, CN has temporarily laid off about 450 workers in Eastern Canada. CN has cancelled 400 trains since the blockades began. Rohit Bhardwaj, chief financial officer of Chemtrade Logistics Inc., said the maker of chemicals for water treatment and industrial uses is "very close" to being forced to close factories. "The chemicals come to our plants by rail and then we produce the water treatment chemicals and typically ship that by truck. But the problem is if you don't get the raw materials coming in then we are unable to produce those chemicals," Mr. Bhardwaj said. "Trucks are not a viable option. It has to be rail." Also, CP Rail has seen its line blockaded in Kahnawake, south of Montreal.

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