Algoma Central Corporation Places Sixth in 2012 Marine Money Overall
(TSX : ALC)
TORONTO, July 3, 2013 /CNW/ - Algoma Central Corporation ("Algoma"), the
largest Canadian shipowner and operator of domestic Great Lakes vessels,
announced today that for the second straight year the Corporation placed in
the top ten in Marine Money Magazine's Rankings of Publicly Traded Shipping
Marine Money Magazine has produced its annual ranking of public marine
shipping companies since 1991. The 2012 list includes 83 companies engaged in
all aspects of marine shipping. The annual Marine Money Overall Performance
Rankings, which are designed to measure companies' ability to improve
operating efficiency and to create shareholder value, are based on an average
of measures including total return to shareholders, return on equity, return
on assets, total asset turnover, and price to book ratio. Algoma placed sixth
in the 2012 Overall Performance Rankings.
In addition, Marine Money ranks companies based on financial strength and
Algoma placed fifth in these rankings for 2012. Algoma was one of only two
companies to place in the top ten in both rankings in 2012 and placed in the
top ten of both rankings for the second straight year.
"After a game-changing year in 2011, Algoma is now charting a course for the
future" says Greg Wight, President and CEO, of Algoma Central Corporation. "We
are extremely proud to remain in the top ten list of Marine Money's prestige
annual rankings and I thank all of our hard working shipboard and shoreside
employees for making this possible."
About Algoma Central Corporation
Algoma Central Corporation owns and operates the largest Canadian flag fleet
of dry and liquid bulk carriers operating on the Great Lakes - St. Lawrence
Waterway, including 19 self-unloading dry-bulk carriers, six gearless dry bulk
carriers and seven product tankers. Algoma also has interests in ocean
dry-bulk and product tanker vessels operating in international markets. Algoma
owns a diversified ship repair and steel fabricating facility active in the
Great Lakes and St. Lawrence regions of Canada. In addition, Algoma owns and
manages commercial real estate properties in Sault Ste. Marie, St. Catharines
and Waterloo, Ontario.
Greg D. Wight, FCA President and Chief Executive Officer 905-687-7850
Peter D. Winkley, CA Vice-President, Finance and Chief Financial Officer
SOURCE: Algoma Central Corporation
To view this news release in HTML formatting, please use the following URL:
CO: Algoma Central Corporation
-0- Jul/03/2013 14:18 GMT
Press spacebar to pause and continue. Press esc to stop.