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Chemtrade to sell Montreal East business to Suncor

1:37 PM MDT | May 12, 2014 | Rebecca Coons

Chemtrade Logistics Income Fund announced today that it has entered into an agreement to sell its Montreal East business to Suncor Energy Products for approximately $120 million. The business, which had, for a number of years, provided services to other refineries in the Montreal area, now provides sulfur removal and compliance services only to Suncor's Montreal refinery. Chemtrade acquired the operation in 2011 as part of its acquisition of Marsulex and will gain approximately $24 million on the sale. Chemtrade will also recognize the remaining amounts...

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