MONTREAL, Dec. 20, 2013 /CNW Telbec/ - TransForce Inc. (TSX: TFI)
(OTCQX: TFIFF), a North American leader in the transportation and
logistics industry, is pleased to announce that all conditions required
to proceed with the acquisition of all the shares of Clarke Transport
Inc. and of Clarke Road Transport Inc., two subsidiaries of Clarke Inc.
(TSX: CKI), have been satisfied. The closing of the transaction will be
effective on January 1, 2014.
Clarke Transport Inc., a fully-integrated provider of
less-than-truckload ("LTL") intermodal transportation services,
operates a network of 15 terminals across Canada. Clarke Road Transport
Inc. offers regular and specialized truckload ("TL") transportation
services. The acquisition is expected to generate annual revenues of
approximately $190 million. The two acquired entities employ a combined
total of more than 600 staff and independent contractors.
TransForce Inc. is a North American leader in the transportation and
logistics industry operating across Canada and the United States
through its subsidiaries. TransForce creates value for shareholders by
identifying strategic acquisitions and managing a growing network of
wholly-owned, operating subsidiaries. Under the TransForce umbrella,
companies benefit from corporate financial and operational resources to
build their businesses and increase their efficiency. TransForce
companies service the following segments:
Package and Courier;
Truckload, which includes specialized truckload and dedicated services;
Specialized Services, which includes services to the energy sector,
waste management, logistics and ancillary transportation services.
TransForce Inc. is publicly traded on the Toronto Stock Exchange (TSX:
TFI) and the OTCQX marketplace in the U.S. (OTCQX: TFIFF). For more
information, visit http://www.transforcecompany.com.
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.
SOURCE: TransForce Inc.