Chemtrade Logistics Inc.
About UsProductsNewsInvestorsCareersContact
News
Chemtrade Logistics Files Normal Course Issuer Bid

TORONTO, Ontario, September 19, 2008 — Chemtrade Logistics Income Fund (TSX: CHE.UN) intends to purchase up to 3,330,094 of its units by way of a normal course issuer bid through the facilities of the Toronto Stock Exchange, representing 10% of the public float on the date hereof. The number of units purchased on a daily basis may not exceed 33,246. The purchases may commence on or about September 23, 2008 and will terminate on September 22, 2009 or on such earlier date as Chemtrade may complete its purchases. The purchases will be made in accordance with the policies and rules of the TSX and will be purchased for cancellation. The prices that Chemtrade will pay for any units will be the market price of such units at the time of acquisition. Chemtrade intends to enter into an automatic securities purchase plan with its designated broker to allow for the repurchase of units at times when Chemtrade ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise.

Chemtrade believes that from time to time its units trade in a price range that does not adequately reflect the value of such units in relation to the business of Chemtrade and its future business prospects. Since its 2001 IPO, the Fund has used its cash flows to create value for unitholders by paying cash distributions and reinvesting in the business. Expanding the use of its cash flow to purchase units is a continuation of this approach. While a portion of the Fund’s cash flows will be used to repurchase units and continue paying cash distributions, the balance will be employed to generate continued growth and operational improvements.

Chemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world. Chemtrade is one of the world’s largest suppliers of sulphuric acid, liquid sulphur dioxide and sodium hydrosulphite, and a leading processor of spent acid. Chemtrade is also a leading regional supplier of sulphur, sodium chlorate, phosphorous pentasulphide, and zinc oxide.

This news release contains certain statements which may constitute “forward-looking” statements within the meaning of certain securities laws, including the “safe harbour” provisions of the Securities Act (Ontario). The use of any of the words “anticipate”, “continue”, estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements.

  • This news release contains forward-looking statements about the objectives, strategies, financial condition, results of operations and businesses of the Fund. These statements are “forward-looking” as they are based on current expectations about our business and the markets we operate in, and on various estimates and assumptions.
  • Forward-looking statements in this news release describe our expectations as of the date of this news release.
  • Our actual results could be materially different from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, we cannot guarantee that any forward-looking statement will materialize.
  • Forward-looking statements do not take into account the effect that transactions or non-recurring items announced or occurring after the statements are made may have on our business.
  • We disclaim any intention or obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason.
  • Risks that could cause our actual results to differ materially from our current expectations are discussed in the Risks and Uncertainties section of our MD&A.
  • Further information can be found in the disclosure documents filed by Chemtrade Logistics Income Fund with the securities regulatory authorities, available at www.sedar.com.

* * * *

For further information:

Mark Davis
President & CEO 

Tel: (416) 496-4176

Rohit Bhardwaj
Vice President, Finance & CFO 

Tel: (416) 496-4177

Website: www.chemtradelogistics.com

2019 News
2018 News
2017 News
2016 News
2015 News
2014 News
2013 News
2012 News
2011 News
2010 News
2009 News
2008 News
2007 News
about us   |   Products   |   news   |   investors   |   contact   |   sitemap   |   accessibility   |   terms and conditions