settlementChemtrade Logistics Income Fund and Marsulex reach settlement on legal claims
Wednesday February 13, 5:47 pm ET
TORONTO, Feb. 13 /CNW/ - Chemtrade Logistics Income Fund (TSX: CHE.UN - News) and Chemtrade Logistics Inc. (collectively, "Chemtrade") and Marsulex Inc. (TSX: MLX - News) have reached an out-of-court settlement of their respective claims relating to disputes that arose following Chemtrade's acquisition of Peak Sulfur, Inc. and Peak Chemical, LLC in August 2005.
In a joint statement, Mark Davis, President & CEO of Chemtrade, and Laurie Tugman, President and CEO of Marsulex, said they were pleased that the issues have been resolved amicably on a basis acceptable to both organizations. Marsulex and Chemtrade did not disclose the details of the settlement but agreed that the settlement was mutually beneficial and included minor revisions to their existing commercial arrangements.
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 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.
About Marsulex
Marsulex, which is based in Toronto, Ontario, is a leading provider of industrial services, including environmental compliance solutions for air quality control, processing or handling of industrial by-products or waste streams, and is a producer and marketer of sulphur-based industrial chemicals. Marsulex's services and products are provided to a broad base of industrial customers in a wide range of industries.
For further information
Mark Davis, President & CEO, Chemtrade Logistics Income Fund, Tel: (416) 496-4176
Laurie Tugman, President & CEO, Marsulex Inc., Tel: (416) 496-4157