CALGARY, Feb. 3, 2012 /CNW/ - Trimac Transportation Ltd. ("Trimac") (TSX: TMA) announced today that it has been awarded a five-year contract to transport gasoline and diesel products for UFA Co-operative Limited.
The award, which commences on May 1, 2012, includes existing and incremental business in Northern and Central Alberta from one of Canada's largest co-operatives. "We are very pleased with our expanded business partnership with UFA", said Ed Malysa, President and COO of Trimac. "Trimac has an excellent relationship with UFA that spans nearly a decade," said Malysa. "We share a common set of goals and values and are committed to providing value to UFA and its customers."
With annual revenues of more than $2.1 billion dollars, UFA serves its members through a diversified portfolio of businesses that include Petroleum Products and Services, Farm and Ranch Supply Stores and Wholesale Sports Outdoor Outfitters.
The value of the contract is estimated to be approximately $19 million annually and $95 million over the five-year term.
About Trimac: Trimac is Canada's largest provider of bulk trucking services with operations from coast to coast. In addition, through its National Tank Services division, Trimac performs repairs, maintenance and tank-trailer cleaning services for both the Trimac fleet and for third party commercial customers. Trimac also provides third party transportation logistics services in Canada and the United States through its wholly owned subsidiary Bulk Plus Logistics.
This news release contains information and statements of a forward-looking nature concerning the value of the UFA contract to Trimac. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. In making such statements, Trimac has assumed that the Canadian economy would continue to strengthen and that the volume of products hauled and miles driven by Trimac for UFA would be consistent with current estimates. Certain factors may cause actual results to differ from such statements including, without limitation, general market trends and conditions, increased competition and pricing pressures in the petroleum and trucking industries, an increase or decrease in UFA's business volumes and an increase or decrease in the product volumes hauled or miles driven by Trimac for UFA. As a result, readers are advised that actual results may differ from expected results.
For further information:
Edward V. Malysa
President and Chief Operating Officer
Trimac Transportation Ltd.
Scott D. Calver
Vice President and Chief Financial Officer
Trimac Transportation Ltd.