TORONTO, Feb. 12, 2013 (GLOBE NEWSWIRE) -- Vitran Corporation Inc. (Nasdaq:VTNC) (TSX:VTN), a North American transportation firm, today announced that it has reached an agreement to divest its Supply Chain Operation (SCO) division to Legacy Supply Chain, based in Portsmouth, New Hampshire, for U.S. $97.0 million in cash, subject to certain working capital adjustments. Vitran intends to use a portion of the net proceeds from this transaction to fully reduce its outstanding debt under its senior revolving credit facility and to support the development of its LTL business. Vitran's Board of Directors is also evaluating various options for the use of the remaining net proceeds.
Vitran Corporation Inc. Focuses On LTL Business With Divestiture Of Its Supply Chain Operation For US$97 Million
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