TransForce Inc. Announces Completion of I.E. Miller Services, Inc. Acquisition

MONTREAL, Nov. 30, 2011 /CNW Telbec/ - TransForce Inc. (TSX: TFI), a North American leader in the transportation and logistics industry, today announced that, through a wholly-owned subsidiary, it has completed the acquisition of all the shares of I.E. Miller Services, Inc. ("IE Miller"), a leading North American provider of rig relocation services, including disassembly, transportation and reassembly of oil and gas drilling rigs.

Founded in 1936, IE Miller operates eight terminals strategically located in close proximity with key North American basins in Texas, Louisiana, Oklahoma, Colorado, and North Dakota. IE Miller has approximately 400 employees and operates one of the largest and most diverse fleets of rig relocation equipment in the United States, mostly specialized in high-end, high horsepower rig movements. It also services a well-diversified base of leading oil and gas producers as well as drilling companies.

IE Miller will add annual revenues of approximately US$138 million and the acquisition is expected to be accretive to TransForce's 2012 earnings.

"This acquisition further leverages TransForce's presence and know-how in the North American energy services sector. IE Miller's high value-added services significantly enhance our offering to existing and prospective customers. Its solid reputation, established national U.S. footprint, diversified blue-chip customer base and the quality of its dedicated employees are also key elements which will allow this strategic addition to create further shareholder value," commented Alain Bédard, Chairman, President and Chief Executive Officer of TransForce.

ABOUT TRANSFORCE
TransForce Inc. is a North American leader in the transportation and logistics industry. Operating across Canada and the United States, 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 four well-defined reportable segments:

  • Package and Courier; 
  • Less-Than-Truckload; 
  • Truckload, which includes specialized truckload and dedicated services;
  • Specialized Services, which includes waste management, energy sector services, logistics and ancillary transportation services.

TransForce Inc. (TFI) is publicly traded on the Toronto Stock Exchange (TSX). For more information, visit http://www.transforcecompany.com.

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.

SOURCE TRANSFORCE INC.

For further information:

Investors:      
Alain Bédard    
Chairman, President and CEO   
TransForce Inc.    
(514) 331-4200    
abedard@transforcecompany.com
Media:
Rick Leckner
MaisonBrison Communications
(514) 731-0000
rickl@maisonbrison.com

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