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Belledune Port Authority (BPA) Releases Financial Results

Belledune, NB – Barry Kyle, Chairman of the Board of Directors of the Belledune Port Authority (BPA), released the 2011 Financial Results and Annual Report today at the BPA’s twelfth Annual General Public Meeting at the Belledune Recreation and Cultural Centre.

“The financial successes and many others are a testament to the fact that after 11 years in the industry, we continue to achieve greater heights.  We have been able to do so thanks to our entrepreneurial integrity, innovative vision, fiscal responsibility and by building and maintaining strong, positive relationships.

Our role in the region is very important and we continuously seek to meet the highest levels of sound business ethics.  Corporate responsibility is embedded in the daily business activities of our employees as we strive to make essential progress in social and environmental areas.”

The BPA President & CEO, Rayburn Doucett stated that: “2011 will likely be remembered as a turning point for the Belledune Port Authority with the completion of a significant expansion program worth $78.8 million. Once again, the Port has met its financial targets with net profits of $2.5M, and with the Port’s vitals all remaining strong we saw total cargo tonnage of 2.089M tones handled and 105 vessels calling at the Port.

2011 was a year of change, progress that strengthened collaboration and growth.  We welcomed new staff and a new Board Member, grew our infrastructure, created a sound business plan, and have built partnerships that will have a lasting and positive impact not only for the Port of Belledune and our community but for the region as a whole.

Together, we have built a solid foundation to continue meeting challenges and reaching new goals as ‘Belledune… Unlimited!’”

Our net income for the 2011 fiscal year was $2,479,988.  The exceptional financial position the BPA continues to maintain reflects the continued efforts of the BPA’s Board of Directors, management and staff.

-30- For more information, please contact: Rayburn Doucett President & CEO Belledune Port Authority (506) 522-1200

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