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Wednesday, January 09, 2013
BNSF Logistics acquires Canadian shipping firm Albacor
BNSF Logistics L.L.C. has acquired Albacor Shipping Inc., an international global project and general cargo provider based in Toronto.
Albacor established operations in Canada and the United States in 1998, expanded to Europe in 2003 and most recently acquired eight operating locations in Russia.
The acquisition will expand BNSF Logistics' North American presence, as well as establish its first foray into new markets necessary to serve certain North American clients, said BNSF Logistics President Ray Greer in a prepared statement.
The deal also positions BNSF Logistics to better serve and take advantage of the "full range of opportunities" across the mining, civil engineering, oil and gas, renewable energy and power generation industries that are part of the industrial renaissance under way in many global economies, company officials said.
BNSF Logistics is a wholly owned subsidiary of Burlington Northern Santa Fe L.L.C., which is owned by Berkshire Hathaway Inc.
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