Vitran to buy US LTL business to expand footprint

Discussion in 'Milan Express' started by R-14Driver, Jan 14, 2011.

  1. R-14Driver

    R-14Driver Well-Known Member

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    * Expects deal to immediately add to earnings upon closing

    * Transaction expected to close on Feb. 19

    Jan 14 (Reuters) - North American transportation company Vitran Corp Inc (VTN.TO) (VTNC.O) said it plans to buy the less-than-truckload (LTL) business of Milan Express for an undisclosed amount to expand its presence in southern United States. Vitran, which has operations across Canada and the United States, said it expects the deal to immediately add to its earnings upon closing.

    The LTL business of Tennessee-based Milan -- which is a transportation service company -- operates 34 facilities in central and southeastern United States and had generated revenue of $70 million for the year ending Dec. 31.....................

    UPDATE 1-Vitran to buy US LTL business to expand footprint | Reuters
     

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