MONTREAL, Sept. 10 /CNW Telbec/ - TransForce Inc. ("TransForce") (TSX: TFI - T), the leader in the Canadian transportation and logistics industry, today announced that it has entered into an agreement to acquire the Retail Solutions Division of ATS Andlauer Transportation Services Limited Partnership (ATS). The Healthcare Division of ATS will continue under its current ownership, as part of the Andlauer Management Group Inc.
"This transaction demonstrates TransForce's strategy of growth through selectively acquiring leading companies with strong leadership," said Alain Bedard, Chairman, President and Chief Executive Officer of TransForce. "ATS Retail Solutions is an excellent strategic fit with our existing Canpar and ICS Courier businesses. Consistent with our approach to acquisitions, it will operate as an autonomous business and ATS President and CEO Michael Andlauer will continue to play a leadership role as Chair of a group specifically focused on courier solutions. We look forward to working with Michael and his team."
The acquired Division generates approximately $120 million in annual revenues. It relies on 165 owner operators for the bulk of its business and employs a total of 447 employees. The transaction is conditional on the signing of a definitive agreement, normal closing and regulatory conditions and is expected to close on or about October 1, 2009.
Profile
TransForce Inc. (www.transforce.ca) is the leader in Canada's transportation and logistics industry. Headquartered in Montreal, Quebec, TransForce creates value for shareholders through managing and investing in a growing network of wholly-owned, operating subsidiaries. TransForce provides a comprehensive and unique combination of capabilities, resources and geographical coverage in both domestic and trans-border markets. Its companies currently operate in four well-defined business segments:
- Less-Than-Truckload;
- Package and Courier;
- Specialized Services, which includes its ancillary transportation
services such as logistics, warehousing & dedicated services, fleet
management & personnel services; oilfield & oilsand services, and;
waste management;
- Truckload, which includes specialized truckload services.
TransForce Inc. shares are listed on the Toronto Stock Exchange under the symbol TFI.
Forward-Looking Statements
Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of TransForce. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for TransForce's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.
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