Saturday, December 20th0.4°C
24562
23715

Quebec's TransForce Inc. to acquire U.S.-based Transport America for US$310M

MONTREAL - Trucking and delivery company TransForce Inc. says it has a US$310-million deal to buy Minnesota-based Transport America, Inc., which offers transportation services across the United States.

Transforce (TSX:TFI) says the acquisition is expected to generate annual revenues of about US$350 million for the Quebec company and will add to its operations in the U.S.

The company says the agreement with Goldner Hawn Johnson & Morrison Inc. to acquire Transport America should close at the end of June.

Transport America operates about 1,500 tractors and about 4,400 trailers and its network includes 12 terminals located throughout the United States.

Montreal-area Transforce has operations throughout Canada and in the United States.

It offers package and courier services, trucking services and specialized services including waste management.

"Transport America is an efficient, well-managed company that generates solid operating margins," Transforce chairman, president and CEO Alain Bedard said in a news release on Monday.

"We expect this transaction to be immediately accretive to earnings and to provide a sound return on investment to the benefit of our shareholders," Bedard said.

The Canadian Press


Read more Business News

24376


Recent Trending




Today's Market
S&P TSX14468.26+121.51
S&P CDNX676.54+11.04
DJIA17804.8026.65
Nasdaq4765.38+16.983
S&P 5002070.65+9.42
CDN Dollar0.8618+0.0001
Gold1197.20+2.50
Oil56.50+2.39
Lumber336.20-0.70
Natural Gas3.446-0.196

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.25-0.03
Cantex0.03-0.005
Anavex Life Sciences0.1726+0.0026
Metalex Ventures0.05-0.005
Russel Metals25.58-0.42
Copper Mountain Mining1.55-0.02
Colorado Resources0.120.00
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.05-0.005
Mission Ready Services0.215-0.01

 
23744


21297

FEATURED Property
2142881#404 770 Rutland Rd.
2 bedrooms 2 baths
$229,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


My final thoughts on real estate

This will be the last column I write on real estate. Largely because at the end of the year I will be handing in my license. After 20+ years of working in land development, resort development and rea...


Reflecting on the end of the year

The importance of the end of the year and the Christmas holidays is profound. It is a time to reconnect with family and traditions that have made us who we are. But the year-end has always been a time...


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...

_



24111




Member of BC Press Council


22842