Exchange Income Corporation (EIC) and the Churchill Marine Tank Farm (CMTF), an affiliate of OmniTRAX Canada announced today that the two companies have entered into a long-term contract for the supply of Jet A-1 fuel through the Port of Churchill in Churchill, Manitoba. CMTF will store, handle and deliver the jet fuel from its facilities at the Port to the airport in Churchill to fuel the planes operated by the EIC subsidiaries Calm Air, Perimeter Aviation, and Keewatin Air and any other aircraft that flies into Churchill.
“We are pleased to have CMTF as our partner in Churchill,” said Gary Bell, VP Corporate Development for EIC. “EIC looks forward to a long and beneficial relationship with CMTF in providing quality air services to the citizens of Manitoba and Nunavut.”
Pat Avery, Vice President of Energy and Commodities for OmniTRAX Canada added, “CMTF will provide a service that meets the high standard set by EIC and looks forward to working with it over the years in serving the North.”
CMTF is the owner and operator of a petroleum products storage facility in Churchill, Manitoba that consists of storage tanks, pipelines, a dispensing plant and equipment. EIC owns three airlines, Calm Air, Perimeter Aviation, and Keewatin Air. Keewatin Air is a
niche airline that provides medevac service, scheduled and chartered passenger airline service and freight to locations in Nunavut and Northern Manitoba through two separate divisions. Nunavut Lifeline carries out the provision of medevac services to the Kivalliq region of Nunavut and Northern Manitoba and Kivalliq Air provides scheduled and charter airline passenger and freight services.
Calm Air is a niche airline that serves the northern part of Central Canada, including Northern Manitoba and Nunavut. From its three main bases in Winnipeg, Thompson and Churchill, it operates daily scheduled passenger and cargo flights throughout Manitoba and the Kivalliq Region of Nunavut. It also operates a schedule of unit-toll freighter and cargo charter operations throughout the year, with cargo volumes increasing in each of the past six years.
Perimeter is a niche airline operating out of its own terminal at the Winnipeg International Airport. It provides regular scheduled passenger airline service, medevac operations and cargo services to locations in northern Manitoba. It also operates a contract and executive charter service, as well as a flight training school.
OmniTRAX has operated the Port of Churchill and the CMTF since 1997. The port is Canada’s only deep-water Arctic port, which serves more than 30 countries in the export of grain from the prairie provinces. The port is also key in the movement of freight and fuel for Nunavut and in its trade.
EIC is a diversified, acquisition-oriented corporation focused on acquisition opportunities in the industrial products and transportation sectors, in particular businesses that are suited for public markets, except for their size. The business plan of the Company is to invest in profitable, well-established companies with strong cash flows operating in niche markets in Canada and/or the United States.