Business
TransForce Announces Two Transactions To Further Strengthen Its Waste Management Division and Reaffirms Year End EBITDA Guidance
- Acquires Roland Thibault Inc. - Increases Ownership of Lafleche Environmental Complex - Reaffir...
About this update from Tfi International Inc.
[{"type":"text","content":"\n\n\n\n- Acquires Roland Thibault Inc.\n\n\n- Increases Ownership of Lafleche Environmental Complex\n\n\n- Reaffirms 2008 Year-End EBITDA Guidance of $275 to $280 Million\n\n\nMONTREAL, Oct. 21 /CNW Telbec/ - TransForce Inc. (TSX: TFI) the leader in\nthe Canadian transportation and logistics industry, today announced it has\ncompleted two transactions designed to increase the strength of Matrec, the\nCompany's waste management division.\n\n\nTransForce has today completed the acquisition of Roland Thibault Inc.,\nbased in Granby region, Quebec. The Company specializes in the collection,\ntransportation and disposal of non-hazardous solid waste and has recently\ncompleted the permitting process, with the Quebec Ministry of the Environment,\nfor the construction of a 6.8 million cubic meter expansion of its site. This\nexpansion will conform to new Ministry landfill regulations and will be\nconstructed using the latest technology. At current annual volumes, the\nlandfill site will satisfy local business and municipal waste disposal needs\nfor at least 40 years. The Company also plans to institute a number of\nrecycling initiatives that will divert waste from landfills and further\ncontribute to meeting the local municipalities' diversion goals as set out in\ntheir waste management master plan (Plan de Gestion des Matieres Residuelles\ndu Quebec).\n\n\nTransForce also announced that it has increased its ownership position in\nLafleche Environmental Inc.'s landfill and environmental complex, located in\nMoose Creek, Ontario, from 37.5% to 50%. Over recent years, TransForce has\nworked closely with its partner at Lafleche to promote a number of recycling\nactivities including the treatment of contaminated soils, generation of\nelectricity from refuse-derived fuel and, most recently, the construction of a\ncomposting facility. Landfilling of waste is progressively becoming a means of\nlast resort at the multi-faceted Moose Creek environmental facility, and it\nwill serve as a model for other operations, including the landfill site owned\nby Thibault.\n\n\nThese investments and others, including the current $7 million retooling\nof Matrec's St. Hubert, Quebec recycling plant, are part of a process that\ncommenced three years ago to modernize Matrec's equipment and infrastructure.\nThe installation of leading edge technology at St Hube...