Business
TransForce To Acquire Thibodeau Group of Companies
MONTREAL, Nov. 26 /CNW Telbec/ - TransForce Income Fund (TSX: TIF.UN), the leader in the Canadian...
About this update from Tfi International Inc.
[{"type":"text","content":"\n\n\n\nMONTREAL, Nov. 26 /CNW Telbec/ - TransForce Income Fund (TSX: TIF.UN),\nthe leader in the Canadian transportation and logistics industry, today\nannounced it has signed an agreement to acquire the shares of privately held\nThibodeau Group of Companies.\n\n\nHeadquartered in Portneuf, Quebec, Thibodeau is a less-than-truckload and\ntruckload carrier, operating primarily in Quebec, Ontario and the United\nStates. Closing of the acquisition is subject to regulatory approvals.\n\n\nFounded in 1945, the business is led by its President, Pierre Thibodeau,\nson of the company founder. Thibodeau has a workforce of 815 employees and has\n1,530 tractors and trailers operating out of 14 terminals. In 2006, the group\ngenerated revenues of more than $80 million.\n\n\n"Thibodeau is a well-established and successful business with an\nexceptional track record. It will further strengthen our less-than-truckload\nand truckload operations in Eastern Canada," said Alain Bedard, Chairman,\nPresident and CEO of TransForce. "The Thibodeau name is well known and\nsynonymous with the very best in our industry. We are delighted to have this\ntrucking icon as a TransForce company."\n\n\nProfile\n\n\nTransForce Income Fund (www.transforce.ca) is the leader in Canada's\ntransportation and logistics industry. Headquartered in Montreal, Quebec, the\nFund's objective is to create value for unitholders through managing and\ninvesting in a growing network of independent operating subsidiaries.\nTransForce provides a comprehensive and unique combination of capabilities,\nresources and geographical coverage in both domestic and trans-border markets.\nIts companies operate in four well-defined business segments:\n\n\n- Less Than Truckload and Parcel Delivery;\n- Specialized Services, which includes its ancillary transportation\n services and fleet management & personnel services businesses;\n- Specialized Truckload; and\n- Truckload.\n\n\nTransForce's trust units (TIF.UN) are listed on the Toronto Stock\nExchange and are included in the S&P/TSX Composite Index.\n\n\nForward-Looking Statements\n\n\nExcept for historical information provided herein, this press release may\ncontain information and statements of a forward-looking nature concerning the\nfuture performance of TransForce. These statements are based on suppositions\nand...