MONTREAL, Nov. 26 /CNW Telbec/ - TransForce Income Fund (TSX: TIF.UN),
the leader in the Canadian transportation and logistics industry, today
announced it has signed an agreement to acquire the shares of privately held
Thibodeau Group of Companies.
Headquartered in Portneuf, Quebec, Thibodeau is a less-than-truckload and
truckload carrier, operating primarily in Quebec, Ontario and the United
States. Closing of the acquisition is subject to regulatory approvals.
Founded in 1945, the business is led by its President, Pierre Thibodeau,
son of the company founder. Thibodeau has a workforce of 815 employees and has
1,530 tractors and trailers operating out of 14 terminals. In 2006, the group
generated revenues of more than $80 million.
"Thibodeau is a well-established and successful business with an
exceptional track record. It will further strengthen our less-than-truckload
and truckload operations in Eastern Canada," said Alain Bédard, Chairman,
President and CEO of TransForce. "The Thibodeau name is well known and
synonymous with the very best in our industry. We are delighted to have this
trucking icon as a TransForce company."
TransForce Income Fund (www.transforce.ca) is the leader in Canada's
transportation and logistics industry. Headquartered in Montreal, Quebec, the
Fund's objective is to create value for unitholders through managing and
investing in a growing network of independent operating subsidiaries.
TransForce provides a comprehensive and unique combination of capabilities,
resources and geographical coverage in both domestic and trans-border markets.
Its companies operate in four well-defined business segments:
- Less Than Truckload and Parcel Delivery;
- Specialized Services, which includes its ancillary transportation
services and fleet management & personnel services businesses;
- Specialized Truckload; and
TransForce's trust units (TIF.UN) are listed on the Toronto Stock
Exchange and are included in the S&P/TSX Composite Index.
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
For further information:
For further information: Investors: Alain Bédard, Chairman, President
and CEO, TransForce Income Fund, (514) 331-4200, email@example.com; Media:
John Lute, Lute & Company, (416) 929-5883, firstname.lastname@example.org