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Central Transport | Vitran closes132 million acquisition of PJAX

TORONTO, ONTARIO and PITTSBURGH, PENNSYLVANIA -- (ENP Newswire) -- 10/02/06 -- Vitran Corporation Inc., a North American transportation and logistics firm, today announced the purchase of PJAX Freight System, a regional LTL (less-than-truckload) freight carrier headquartered in Pittsburgh, PA. The purchase price consideration of approximately $132 million for PJAX consisted of $80.3 million in cash, $26.5 million of assumed debt, $13.2 million in Vitran stock and holdbacks totaling $12 million payable over the next 365 days.

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just left meeting vitran ceo seems to be ok for the company,we will assume vitrans name in 3 to 6 mo,pjax in columbus is going to assume all the business
 
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