Tri-White Corporation announces strategic
initiative
Wednesday September 28, 5:01 pm
ET
Tri-White Corporation (TSX:
TWH) Toronto, Ontario The Board of Directors
of Tri-White Corporation today announced a strategic initiative
to address the future of its significant investment in
its wholly-owned subsidiary, White Pass & Yukon Route.
The investigation of the potential for the asset could
include the sale of all or part of this business, a strategic
alliance or partnership or other restructuring of the asset
within TriWhite.
The Company is in the process of retaining
a financial advisor to assist with the strategic planning
activities and expects to move forward with a recommendation
in 2006.
K. Rai Sahi, Chairman and Chief Executive
Officer, stated:
"Since Tri-White's inception in 1997,
White Pass has been a cornerstone of the Company's portfolio.
With it's world class rail excursion and highly rated port
facilities in Skagway, Alaska, this business unit has built
on its blue chip customer base, delivering unparalleled
growth and generating substantial cash flow for our shareholders.
As with all of our investments, we periodically
examine the stage of development within each company to
assess
the value created and to define a program to meet the Tri-White
business objectives".
Tri-White Corporation holds
a diverse merchant-banking portfolio. Tri-White is presently
the largest shareholder of ClubLink, Canada's leading owner,
operator and developer of high quality member golf clubs,
daily fee golf clubs and golf resorts with 34 properties
in Canada. As well, Tri-White is the largest shareholder
of Clearlink Capital Corporation (“Clearlink”).
Clearlink provides customized financing, asset management
and equipment trading services to large organizations through
the acquisition of technology and related equipment. In
addition, TriWhite owns a 100% interest in the historic
White Pass & Yukon Route Railway, with strategic holdings
in the port operations and supporting excursions, based
in Skagway, Alaska.
For
further information
Don Turple, Chief
Financial Officer
Tel: (416) 367-6877
Fax: (416) 637-6890
e-mail:
dturple@morguard.com
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