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COMPETITION WATCH: Contrans Income Fund announces acquisition of Cornerstone Logistics Inc.

WOODSTOCK, Ont -- Contrans Income Fund has completed the acquisition of Cornerstone Logistics Inc.


WOODSTOCK, Ont — Contrans Income Fund has completed the acquisition of Cornerstone Logistics Inc.

Cornerstone is a third party logistics provider whose customers require various transportation services within North America.

With locations in Oakville, Ontario and Buffalo, New York, Cornerstone recorded revenues of approximately $24.3 million in the twelve month period ended March 31, 2006.

It is the intent of Contrans to continue to operate Cornerstone as an independent operating unit from its current offices with its existing complement of management and staff, said Stan Dunford, Chairman and Chief Executive Officer of Contrans


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