WOODSTOCK, ON, May 1, 2014 /CNW/ - (TSX:CSS) Contrans Group Inc. today
announced that it has completed the previously announced sale of its
wholly owned subsidiaries Tri-Line Disposal Inc. and Deuce Disposal
Ltd. to GFL Environmental Inc. Tri-Line Disposal Inc. and Deuce
Disposal Ltd. are leading waste collection companies in Edmonton and
Slave Lake, Alberta respectively and were operated by the Company as a
segmented business unit. The proceeds from this sale, which are subject
to working capital adjustments, are expected to approximate
$72,000,000. Since Contrans Group Inc. operates on a highly decentralized basis, the
sale of these subsidiaries will not affect the manner in which the
Company operates its other business units.
Contrans has been providing freight transportation services as a
publicly-listed company since 1985. With approximately 1,400 power
units and 2,600 trailers under management, Contrans is one of the
largest freight transportation companies in Canada.
SOURCE: Contrans Group Inc.
For further information:
Stan G. Dunford, Chairman and Chief Executive Officer, or
Gregory W. Rumble, President and Chief Operating Officer
Phone: 519-421-4600 - E-mail: email@example.com - Web site: www.contrans.ca