Trimac acquires compressed gas transportation business



    CALGARY, June 1 /CNW/ - Trimac Income Fund (TSX Symbol TMA.UN) announced
today that Trimac Transportation Services Limited Partnership ("Trimac") has
completed the purchase of the Alberta based business and assets of Logistics
Express, Inc. ("Logex"). Logex is engaged in the transportation of liquified
gases such as oxygen, nitrogen and carbon dioxide primarily on behalf of
industrial gas manufacturers. The fleet acquired includes 15 trailers and
31 independent contractors/leased tractors with annual revenues for the
Alberta based business of approximately $6.0 million. The purchase price for
the acquired business and assets is approximately $1.7 million and will be
subject to final adjustment for working capital. Trimac's U.S. affiliate
concurrently acquired the U.S. based business and assets of Logex.
    In commenting on the acquisition, Terry Owen, CEO, said: "We are very
pleased with this acquisition as it compliments our compressed gas business in
western Canada and expands our existing customer relationships in this product
line".
    Trimac Income Fund is an unincorporated, open-ended limited purpose trust
created for the purpose of acquiring and holding an indirect interest in
Trimac.

    Trimac is Canada's largest provider of bulk trucking services with
operations from coast to coast. In addition, through its wholly owned
subsidiary, Bulk Plus Logistics Limited Partnership, Trimac provides third
party transportation logistics services in Canada and the United States. Trust
units of Trimac Income Fund are traded on The Toronto Stock Exchange under the
symbol TMA.UN.





For further information:

For further information: Terry J. Owen, President and Chief Executive
Officer, Trimac Transportation Services Inc.; Edward V. Malysa, Vice President
and Chief Financial Officer, Trimac Transportation Services Inc., Telephone:
(403) 298-5100, Facsimile: (403) 298-5146

Organization Profile

Trimac Transportation Ltd.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890