ALDERYSYDE, Alta. — It’s the end of an era at Mullen Transportation, as the company’s founder and major shareholder has announced plans to sell of up to one million shares.
Roland Mullen will still be the company’s major shareholder, maintaining 1,920,000 shares, or 13 per cent of the issued capital. The stocks will be available on the Toronto Stock Exchange under the symbol MTL after all the regulatory approvals are made.
Mullen started the trucking company in 1949 and has guided it through its growth since then. He plans to retire from the Board of Directors in 2003 and has said that his decision to sell off a significant chunk of his investment is consistent with his long-term estate planning objectives.
“When we took this Company public in 1993 I knew there would come a timeto step down. That was part of the decision process,” says Mullen. “Mullen has just finished another great year, is debt free and from my point
of view the Company has a very bright future.”
Have your say
This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.