Trimac closes Rentway deal

CALGARY (Sept. 4, 2000) — Trimac Corp. has closed its previously announced sale of Rentway Ltd., its Mississauga, Ont.-based truck-fleet management subsidiary, to Penske Truck Leasing Co. for $105 million. The company expects to record an after-tax gain of about $48 million on the sale.

Trimac said it wanted to sell the company as part of a strategic repositioning to focus Trimac on bulk trucking and third-party logistics.

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