Algoma Central Corporation Announces Agreement to Acquire Lower Lakes Fleet

2026-02-27 - 21:13

ST. CATHARINES, Ontario -- Algoma Central Corporation (“Algoma” or “the Company”) (TSX: ALC), a leading provider of marine transportation services, today announced it has entered into a definitive agreement to acquire Mainstay Maritime Inc.’s (“Mainstay”) three Canadian operating companies and associated fleet of six Canadian-flagged vessels. Mainstay, formerly Rand Logistics, Inc., operates one of the largest Jones Act-compliant fleets serving the Great Lakes, specializing in the movement of dry bulk and liquid cargoes. The transaction includes Lower Lakes Towing Ltd. and its associated operating companies (collectively, “Lower Lakes”), as well as six associated Canadian-flagged vessels: Kaministiqua, Manitoulin, Robert S. Pierson, Saginaw, Michipicoten, and Valo. Read More