Trimac buys U.S.-based DSI

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CALGARY, Alta. – Trimac Transportation has purchased Initial DSI Transports Inc. (DSI) from United Transport America for approximately US $68.3 million. The deal closed on Jan. 18.

DSI, headquartered in Houston, Texas, provides transportation services to chemical manufacturers and distributors of liquid chemical, petroleum and dry bulk products, operating from 34 terminals in the United States, primarily in the Gulf Coast, South Eastern and Mid-Atlantic states.

DSI also delivers into Canada and has an interline agreement with a Mexican carrier. DSI employs more than 1,600 people, and operates a fleet of more than 900 tractors and 1,350 trailers.

DSI’s revenues and earnings before interest and taxes for the year ended Dec. 31, 1998 were $156.3 million and $9.6 million, respectively. DSI’s long-term debt consists of approximately $12.1 million relating to capital leases for equipment.

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