Business
TransForce Inc. Announces Completion of Quik X Transportation Acquisition
MONTREAL, Jan. 5, 2012 /CNW Telbec/ - TransForce Inc. (TSX: TFI), a North American leader i...
About this update from Tfi International Inc.
[{"type":"text","content":"\n\n\n\n\n\nMONTREAL, Jan. 5, 2012 /CNW Telbec/ - TransForce Inc. (TSX: TFI), a\n North American leader in the transportation and logistics industry,\n today announced that it has completed the acquisition of all the shares\n of Quik X Transportation Inc. and Quik X Transportation (U.S.) Inc. (\"Quik X\"), a leading provider of transportation and logistics services, mainly in\n the expedited LTL market segment.\n\n\nHeadquartered in Mississauga, Ontario, Quik X has a network of 17\n centers across Canada and the U.S., more than 600 employees and\n agreements with approximately 325 independent contractors. Founded in\n 1990, Quik X has a solid reputation in the time sensitive freight\n transportation market and is highly recognized for providing customers\n with superior information technology capabilities through its\n proprietary software. Quik X is an asset-light company with annual\n revenues of approximately $200 million. The transaction is expected to\n be accretive to TransForce's 2012 earnings.\n\n\n\"This acquisition further enhances TransForce's density and capabilities\n in the niche expedited LTL market. Quik X is well recognized for its\n leading-edge technology and highly qualified employees. More\n importantly, its asset-light business model should provide a solid\n return on our investment and create additional shareholder value,\"\n commented Alain Bédard, Chairman, President and Chief Executive Officer\n of TransForce.\n\n\nABOUT TRANSFORCE\nTransForce Inc. is a North American leader in the transportation and\n logistics industry. Operating across Canada and the United States,\n TransForce creates value for shareholders by identifying strategic\n acquisitions and managing a growing network of wholly-owned, operating\n subsidiaries. Under the TransForce umbrella, companies benefit from\n corporate financial and operational resources to build their businesses\n and increase their efficiency. TransForce companies service four\n well-defined reportable segments:\n\n\nPackage and Courier; \n\n\nLess-Than-Truckload; \n\n\nTruckload, which includes specialized truckload and dedicated services;\n\n\nSpecialized Services, which includes waste management, energy sector\n services, logistics and ancillary transportation services.\n\n\nTransForce Inc. (TFI) is publicly traded on the Toronto Stock Exchange\n (...