MONTREAL, (June 24, 2002) — TransForce continues to roll down acquisition trail as the company recently announced a letter of intent to purchase Quebec City-based Retex Transport, a specialized explosives, petroleum products, and propane carrier.

TransForce president and CEO Alain Bédard said in a press release that Retex fits perfectly into the company’s strategy to “grow by acquisition” and strengthen TransForce’s position in the specialized transport niche.

Retex, which reported revenues of $5 million last year, will continue to operate independently under its existing name as a wholly-owned subsidiary of TransForce, one of Canada’s largest for-hire carriers. Mr. René Bussières, the President of Retex Transport, will continue to contribute to the company’s business development. Closing of the transaction is expected to occur in the beginning of July.

The Retex purchase marks the fourth acquisition by TransForce this year. Earlier this month the company acquired Canpar Transport, a non-expedited parcel-delivery company based in Mississauga, Ont. In March TransForce bought Japiro Transport, a small less-than-truckload and truckload carrier after acquiring the logistics and freight brokerage business of Tri-Line Expressways a month prior.