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
"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
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;
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.
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.
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