COMPETITION WATCH: Trimac takes 29% stake in Northern Resource Trucking
CALGARY, Alta. — Trimac Transportation has entered into an agreement to acquire 29% of Northern Resource Trucking.
The cash and share transaction is valued at $9 million. Trimac said the deal is expected to close on or about March 19.
Northern Resource Trucking serves the uranium mining industry in Northern Saskatchewan. The companies have worked together for years, with Northern Resource serving as a subcontractor to support key Trimac customers.
The company has about 80 tractors, 140 trailers and 150 drivers and owner/operators and is based out of Saskatoon, Sask.
“NRT is a strategic partner that is the leader in bulk transportation in Northern Saskatchewan,” said Ed Malysa, president and COO of Trimac. “By exploiting Trimac’s expertise and NRT’s strong market position, the acquisition is expected to provide accretive earnings to Trimac.”
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