Apr 6, 2004 12:33 PM, from staff and wire reports

CP Ships LTD, a leading container shipping company, has closed on its acquisition of Montreal-based ROE Logistics, first announced March 23, 2004. The acquisition of ROE is part of CP Ships' plan to selectively develop logistics services as a way of leveraging strong regional positions and adding value to core container services.

Founded in 1979, ROE is a family-owned business and has offices in Montreal, Toronto, Calgary, and Vancouver with gross annual revenues (excluding customs duty and tax) of US $27 million. It provides freight forwarding, customs brokerage, logistics, warehousing, and distribution services. Robert Elvidge, founder and current owner, will remain as chief executive officer.