ALDERSYDE, Alta. (April 1, 2005) — Mullen Transportation Inc. announced it has acquired B.C.-based Tenold Transportation Inc. — a long haul flatbed, truckload, and LTL fleet operating with 125 owner-operators.

Mullen says Tenold is a value added transportation services company primarily providing services throughout Canada and the U.S. It also provides logistics, warehousing and distribution, and other non-transportation services such as cable cutting and reel services to its customers in the wire and cable, telephone, hydro and construction industries. Tenold is also one of the largest transporters of machinery, equipment, pipe and bulk materials in western Canada.

Tenold has been trucking for 36 years, and generates annual revenues in excess of $40 million, with operating margins consistent to that of other best-in-class trucking firms, says Mullen Chairman and CEO Murray Mullen. “We expect the transaction will be accretive to Mullen’s earnings. This acquisition complements our existing trucking business and expands the markets we serve,” he said.

Mullen will fund the deal through existing credit facilities. The transaction is expected to close by the end of this month.