TransForce Concludes An Agreement For Additional Landfill Capacity
19 Dec, 2013, 17:00 ET
MONTREAL, Dec. 19, 2013 /CNW Telbec/ - TransForce Inc. (TSX: TFI OTCQX: TFIFF), a North American leader in the transportation and logistics industry, today announced that it has entered into an agreement with Waste Management of Canada Corporation, a subsidiary of Waste Management, Inc. (WM: NYSE), to use approximately 30% of the remaining capacity of the Lachute Landfill Site, located in Lachute, Quebec.
Under the terms of the agreement, TransForce will have 30 years to use this capacity, which amounts to an estimated 1,875,000 tonnes. The transaction provides TransForce's Malex business unit with its own disposal capacity, which should improve operating efficiency and cost management. It should also allow TransForce to broaden its service offering to municipalities in the Laurentides and Outaouais regions of Québec.
"TransForce is pleased with this additional landfill capacity, which allows us to further enhance our service offering in the waste management sector. Given its prime location, the Lachute site will provide significant opportunities to grow our customer base and our density," said Alain Bédard, Chairman, President and Chief Executive Officer of TransForce.
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.
For further information:
Chairman, President and CEO
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