Canadian Tire Corp. Ltd. Cl A stock rises Tuesday, outperforms market
Shares of Canadian Tire Corp. Ltd. Cl A CTC.A, -0.31% inched 0.32% higher to C$192.37 Tuesday, in what proved to be an otherwise all-around negative trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE, -0.34% falling 0.07% to 20,806.63. Canadian Tire Corp. Ltd. Cl A closed C$21.48 below its 52-week high (C$213.85), which the company reached on May 13th. Trading volume of 93,138 shares remained below its 50-day average volume of 153,387.
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Man pleads guilty to 2019 arson at Canadian Tire in Mission – Agassiz Harrison Observer
Quince Chalifoux set blaze that caused milions of dollars in damages
Mission Fire Rescue Service was called to a blaze inside the Canadian Tire store on London Avenue on Jan. 30, 2019. (Kevin Mills/Mission City Record)
A man has pleaded guilty to a fire that destroyed the Canadian Tire store in Mission in January 2019.
Quince Chalifoux, 28, was initially charged with “arson in relation to an inhabited property” but recently pleaded guilty in Abbotsford provincial court to the lesser charge of “arson damaging property.”
His sentencing hearing has been scheduled for Sept. 7 in Abbotsford.
The blaze took place at about 6:30 p.m. on Jan. 30, 2019 at the Canadian Tire on London Avenue in Mission.
Staff and customers were able to safely leave the store, and no one was injured.
RELATED: Fire at Mission’s Canadian Tire now considered suspicious
RELATED: Mission Canadian Tire fire caused millions in damages
The store was further damaged at around 2 a.m., when an explosion took place inside the building, setting off approximately 185 sprinklers. The damage was estimated in the millions.
Investigators quickly deemed the fire as suspicious. Charges against Chalifoux were announced in February 2020.
The store was rebuilt and reopened on Aug. 29, 2019, but suffered damage in a second unrelated fire exactly two years after the one involving Chalifoux.
Investigators believe that fire was set to conceal a shoplifting theft.
The suspect in that incident was described as a white heavy-set middle-aged man wearing a black face cloth, baseball cap and black jacket.
RELATED: Fire at Mission’s Canadian Tire ‘deliberately set’ to conceal shoplifting
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Ashcroft inland terminal inks deal with Canadian Tire
Investment expected to decrease pressure on Vancouver port facilities
Ashcroft Terminal Limited and Canadian Tire Corporation have signed an investment agreement in which the latter will acquire a 25% equity interest in Ashcroft.
PSA International Pte Ltd will continue as the terminal operator and retain a majority interest of 60%, with the remaining 15% interest held by founding partner CrescentView Investments Ltd.
Ashcroft is an inland port facility some 300 kilometres east of Vancouver, Canada’s only major privately-owned industrial property served by Class 1 railroad lines – Canadian National Railway and Canadian Pacific Railway. Throughput includes import and export cargoes to and from the marine terminals in Vancouver, across Canada and other North American markets.
Operating since 2001, the terminal handles 7,000 railcars and 6,000 trucks annually.
The partnership is expected to allow Ashcroft to invest in long-term infrastructure and capacity growth.
The terminal has been affected by forest fire smoke lately but remains open for business.
Ashcroft CEO Enno Koll said Canadian Tire will further diversify the customer base, enabling Ashcroft to develop tailored solutions for North American retailers while continuing to grow its bulk-service offerings.
“We have the potential to increase the efficiency and sustainability of the supply chain for containers imported and exported through the marine terminals in Vancouver,” Koll said. “Ashcroft Terminal facilitates the shift from truck to rail and significantly reduces the movement of trucks in the busy Metro Vancouver area.”
“Having strategic access to high-demand capacity will enable greater control over our end-to-end supply chain, which has become increasingly critical in a time where global supply chains have been completely disrupted and new resiliency is required,” Canadian Tire Corporation chief supply chain officer Paul Draffin said.
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