Oil and gas firm buys two Alberta trucking outfits
CALGARY — Enerchem International Inc., a supplier of over 300 oil and gas based formulations, announced a Letter of Intent to purchase all of the issued and outstanding shares of Millard Trucking Ltd. and J.D.M. Trucking Ltd., for an undisclosed cash amount.
Millard Trucking Ltd. and J.D.M. Trucking Ltd., are related companies headquartered in Sundre, Alberta. The companies’ services focus on the transportation of fluids and other related oilfield services in Central and Southern Alberta. The companies maintain a fleet of tank trucks, trailers, vacuum trucks, steamers and pressure trucks and presently employ 29 employees, which includes 22 full time drivers.
The transaction is anticipated to close on or before April 30, 2006, subject to satisfactory completion of its due diligence.
“This acquisition provides a very logical fit with our operations and an immediate opportunity to increase our internal hauling capacity which has been largely serviced through third party haulers,” said Douglas F. Robinson, president and CEO of Enerchem, said in a press release.
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