Latest news with #Chemtrade
CBC
7 hours ago
- CBC
Company fined $210K after employee killed in fall through roof near Fort McMurray
A construction contractor has been convicted of a workplace safety violation that resulted in the death of an employee in northern Alberta in 2023. According to court documents, the conviction stems from the on-the-job death of Milo Sagmoen, who was fatally injured after falling through a roof at a production facility north of Fort McMurray, Alta., in June 2023. On Monday, Pacific Rim Industrial Insulation Ltd., Sagmeon's employer, was convicted of an occupational health and safety violation in relation to the incident. The company pleaded guilty to the charge. It was convicted of failure to ensure a worker used a travel restraint system where they could fall a distance of three metres or more. The contractor was fined $210,000 and is required to undertake 18 months of enhanced regulatory supervision. Three other OHS charges against the company related to the death of Sagmoen were withdrawn. According to OHS legislation, employers must enforce the use of fall protection systems for employees at risk and ensure they are informed of all fall hazards. CBC News has reached out to Pacific Rim Industrial Insulation Ltd. for comment on the conviction. The company's website said the contractor specializes in insulation, cladding, and asbestos abatement for sectors including the chemical, oil and natural gas industries. The incident occurred on a maintenance building at Chemtrade's ammonium sulfate production plant within Syncrude's Mildred Lake site north of Fort McMurray.
National Post
22-07-2025
- Business
- National Post
Chemtrade Logistics Income Fund Declares July 2025 Distribution
Article content TORONTO — Chemtrade Logistics Income Fund (TSX: today announced that it has declared a cash distribution of $0.0575 per unit for the month of July 2025 payable on August 29, 2025 to unitholders of record at the close of business on July 31, 2025. Article content Holders of units who are non-residents of Canada will be required to pay all withholding taxes payable in respect of any distributions of income by the Fund. Article content Article content Article content Article content Article content Article content Contacts Article content For further information: Article content Rohit Bhardwaj Article content Chief Financial Officer Article content Article content Article content
National Post
16-07-2025
- Business
- National Post
Chemtrade Logistics Income Fund to Announce Second Quarter 2025 Results on August 14, 2025
Article content TORONTO — Chemtrade Logistics Income Fund (TSX: will release its results for the three and six months ended June 30, 2025 on Thursday, August 14, 2025 after market close. Article content A conference call to review the results will be webcast live on Friday, August 15, 2025 at 10:00 a.m. To access the webcast click here. Article content Article content Article content Article content Article content Article content Contacts Article content For further information: Article content Rohit Bhardwaj Chief Financial Officer Tel: (416) 496-4177 Article content Article content
Yahoo
14-05-2025
- Business
- Yahoo
Chemtrade Logistics Income Fund (CGIFF) Q1 2025 Earnings Call Highlights: Strong Revenue and ...
Revenue Growth: Increased by 11.5% year over year. EBITDA Growth: Up 9.3% year over year. SWC Segment Revenue: Grew by 11.9% excluding foreign exchange impacts. SWC Segment EBITDA: Increased by 12.5% year over year, excluding foreign exchange impacts. EC Segment Revenue and EBITDA: Relatively flat compared to the prior year period, excluding foreign exchange impacts. MECU Netbacks: Increased by approximately $165 per unit year over year. Distributable Cash: Generated $62.1 million in Q1, or $0.53 per unit. Growth Capital Investment: $7.2 million invested in Q1, with a full-year plan of $40 million to $60 million. Monthly Distribution Increase: Raised by 5% to $0.0575 per month in January 2025. Unit Purchases: 3.9 million units purchased in Q1 under NCIB. Net Debt Ratio: Approximately 2 times at the end of Q1. Available Liquidity: $780 million at the end of Q1. Adjusted EBITDA Guidance: Raised to the higher end of $430 million to $460 million for 2025. New Acquisition: Purchased Thatcher Group's aluminum sulfate water treatment chemicals businesses for $30 million. Warning! GuruFocus has detected 2 Warning Signs with CGIFF. Release Date: May 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Chemtrade Logistics Income Fund (CGIFF) reported a strong start to 2025 with a revenue increase of 11.5% year over year and EBITDA up 9.3%. The SWC segment was a significant driver of growth, with revenue and EBITDA increasing by 11.9% and 12.5% respectively, due to higher pricing and volumes. Chemtrade's capital allocation strategy is robust, with $62.1 million of distributable cash generated in Q1, supporting growth investments and unit holder returns. The company raised its monthly distribution by 5% in January 2025, reflecting sustained growth in earnings and cash flow. Chemtrade's Vision 2030 targets an average annual EBITDA growth of 5% to 10%, aiming for $550 million to $600 million by 2030, driven by organic growth and strategic acquisitions. Higher input costs in the SWC segment, particularly for water chemicals and sulfuric acid, posed challenges despite being managed effectively. The EC segment's revenue and EBITDA were relatively flat year over year, with lower chlorine volumes and revenues from Brazil impacting growth. Chemtrade faces uncertain macroeconomic conditions, making it challenging to forecast sales for the remainder of 2025. The company anticipates a collective EBITDA impact of roughly $5 million due to maintenance turnarounds at several sulfuric acid plants. Potential volatility in global trade and tariff structures could impact Chemtrade's operations, although the direct financial impact has been limited so far. Q: Can you characterize the current cycle position for Chemtrade's SWC and Electrochem segments, and is this a mid-cycle earnings period for Chemtrade? A: Scott Rook, President and CEO, explained that the SWC segment is considered mid-cycle, with future growth expected from organic opportunities like ultra-pure sulfuric acid. The EC segment varies by product; caustic soda is mid-cycle with potential upside, chlorine is near the top of the cycle, and hydrochloric acid is tied to fracking activity, making it harder to predict. Q: Regarding the Vision 2030 plan, is the organic growth primarily from the Casa Grande, Arizona project, and is M&A focused on water chemicals? A: Scott Rook clarified that the Vision 2030 plan does not include the Casa Grande project, which is on hold. Organic growth will come from existing projects like Cairo, Ohio, and other ultra-pure acid locations. M&A will focus on small to moderate acquisitions, primarily in water chemicals. Q: Why choose to spend $30 million on a five-times EBITDA acquisition instead of buying back stock at a lower multiple? A: Rohit Bhardwaj, CFO, stated that Chemtrade's capital allocation strategy includes growing the business, returning capital to unit holders, and maintaining balance sheet strength. The acquisition is strategic and synergistic, particularly in the water business, and they plan to continue with share buybacks as well. Q: Can you provide details on the water treatment chemical acquisition, its impact on guidance, and whether the deal has closed? A: Scott Rook confirmed the acquisition has not closed yet and is expected to close later in May. It is not factored into the upper end of the guidance. The acquisition involves buying a customer list without acquiring new facilities, allowing Chemtrade to service customers from existing operations. Q: What is the outlook for future tuck-in acquisitions, especially in the water treatment sector? A: Scott Rook mentioned that Chemtrade has a pipeline of potential projects and is cautiously evaluating them. While not targeting a specific number of acquisitions per year, they prioritize accretive deals and maintain a focus on share buybacks and organic growth. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
13-05-2025
- Business
- Business Wire
Chemtrade Announces Voting Results From Annual Meeting of Unitholders
TORONTO--(BUSINESS WIRE)--Chemtrade Logistics Income Fund (TSX: (the ' Fund ') today announced results for matters voted on at the Fund's annual meeting of unitholders held in Toronto on May 13, 2025. A total of 37,463,472 units, or 32.24% of the Fund's issued and outstanding units as at the record date, were voted by proxy in connection with the annual meeting. Election of Trustees On a vote by show of hands, the following nominees were elected as trustees of the Fund, for a term expiring at the conclusion of the next annual meeting of unitholders of the Fund or until their successors are elected or appointed. The following proxy votes from unitholders with respect to the election of the eight nominees are set out below: Nominees Units Voted For % For Units Voted Withheld % Withheld Douglas Muzyka 36,120,511 98.51% 545,643 1.49% Lucio Di Clemente 35,659,719 97.26% 1,006,435 2.74% Daniella Dimitrov 35,754,525 97.51% 911,629 2.49% Luc Doyon 35,852,756 97.78% 813,398 2.22% Gary Merasty 35,955,909 98.06% 710,245 1.94% Emily Moore 36,144,589 98.58% 521,565 1.42% Suzann Pennington 36,204,983 98.74% 461,171 1.26% Scott Rook 36,147,407 98.59% 518,747 1.41% Expand Appointment of Auditors On a vote by show of hands, KPMG LLP was reappointed as auditor of the Fund to hold office until the next annual meeting of unitholders of the Fund or until a successor is appointed, and the trustees of the Fund were authorized to fix the auditors' remuneration. The following proxy votes from unitholders with respect to the appointment of KPMG LLP as auditors of the Fund are set out below: Vote Regarding Approach to Executive Compensation ('Say on Pay') On a non-binding advisory vote by show of hands, unitholders approved by majority the Fund's approach to executive compensation disclosed in the Circular. The following proxy votes from unitholders with respect to the 'Say on Pay' vote are set out below: Trustee and Committee Changes On the day of the Meeting, Katherine Rethy retired as a Trustee. Douglas Muzyka, Chair of the Board, thanked Ms. Rethy for her valuable and thoughtful contributions, and decade of service. Suzann Pennington was appointed as a member of both the Human Capital and Compensation Committee and the Responsible Care Committee. About Chemtrade Chemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world. Chemtrade is one of North America's largest suppliers of sulphuric acid, spent acid processing services, inorganic coagulants for water treatment, sodium chlorate, sodium nitrite and sodium hydrosulphite. Chemtrade is also a leading producer of high purity sulphuric acid for the semiconductor industry in North America. Chemtrade is a leading regional supplier of sulphur, chlor-alkali products, and zinc oxide. Additionally, Chemtrade provides industrial services such as processing by-products and waste streams.
