CP Ships, one of the world's leading container shipping companies, has closed on its acquisition of Montreal-based ROE Logistics. 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.

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

CP Ships provides international container transportation services in four key regional markets: TransAtlantic, Australasia, Latin America and Asia.
Within these markets CP Ships operates 35 services in 22 trade lanes, most of which are served by two or more of its seven readily recognized brands:
ANZDL, Canada Maritime, Cast, Contship Containerlines, Italia Line, Lykes Lines and TMM Lines. CP Ships has a fleet of 80 ships and 443,000 teu in containers. Its annual volume is 2.2 million teu, more than 80% of which is North American exports or imports. It also owns ROE Logistics and Montreal Gateway Terminals, which operates one of the largest marine container terminal facilities in Canada. CP Ships is listed on the Toronto and New York stock exchanges under the symbol TEU and is in the S&P/TSX 60 Index of top Canadian publicly listed companies. For further information visit the CP Ships website, www.cpships.com.