Enforcer75
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check out the investor relations section of the company website, there is a press release there. Sold them for 5 million.
Central Transport | Vitran Sells Fontier
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R-14Driver
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Here's the article : Vitran Corporation Inc. Announces the Sale of Frontier Transport Corporation
TORONTO and INDIANAPOLIS, Nov 30, 2010 (GlobeNewswire via COMTEX News Network) --
Vitran Corporation Inc. (Nasdaq:VTNC) (TSX:VTN), a North American LTL transportation and Supply Chain firm, today announced that it has sold selected assets of Frontier Transport Corporation to Online Transport, based in Indianapolis, Indiana.
"For the last few years, Vitran has been focusing on its two core segments, LTL and Supply Chain Operations. Frontier, our small owner-operator Truckload operation, took a back seat. Therefore, we are extremely pleased with this transaction as the majority of our associates will continue to serve our many valued Truckload customers, and our sole focus will be on our two core operations," stated President and CEO Rick Gaetz of Vitran Corporation Inc.
"On-Line Transport purchased 794 trailers while Vitran retains 174 of the newest trailers to be redeployed in the LTL operation. The proceeds and net working capital is approximately $5 million. I would like to thank the management team and all associates for their efforts and loyalty over the past 15 years," added Rick Gaetz. ...................
Vitran Corporation Inc. Announces the Sale of Frontier Transport Corporation
TORONTO and INDIANAPOLIS, Nov 30, 2010 (GlobeNewswire via COMTEX News Network) --
Vitran Corporation Inc. (Nasdaq:VTNC) (TSX:VTN), a North American LTL transportation and Supply Chain firm, today announced that it has sold selected assets of Frontier Transport Corporation to Online Transport, based in Indianapolis, Indiana.
"For the last few years, Vitran has been focusing on its two core segments, LTL and Supply Chain Operations. Frontier, our small owner-operator Truckload operation, took a back seat. Therefore, we are extremely pleased with this transaction as the majority of our associates will continue to serve our many valued Truckload customers, and our sole focus will be on our two core operations," stated President and CEO Rick Gaetz of Vitran Corporation Inc.
"On-Line Transport purchased 794 trailers while Vitran retains 174 of the newest trailers to be redeployed in the LTL operation. The proceeds and net working capital is approximately $5 million. I would like to thank the management team and all associates for their efforts and loyalty over the past 15 years," added Rick Gaetz. ...................
Vitran Corporation Inc. Announces the Sale of Frontier Transport Corporation
speedracer21
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the 5 million will be used to give the drivers back their 5%