Legacy Supply Chain Chief Executive Officer Ron Cain stated, "We are delighted to have SCO join Legacy Supply Chain and are excited at the prospects for our combined company moving forward. We are very pleased with Vitran's SCO business, employees and the cultural fit between our two companies. We look forward to closing the transaction and meeting with all employees and customers in the near future."
BB&T Capital Markets acted as exclusive financial advisor, and McMillan LLP acted as legal counsel, to Vitran.
About Vitran Corporation Inc.
Vitran Corporation Inc. is a North American group of transportation companies offering less-than-truckload services. To find out more about Vitran Corporation Inc. (Nasdaq:VTNC) (TSX:VTN), visit the website at www.vitran.com .The Vitran Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7302 About Legacy Supply Chain, Inc. Legacy Supply Chain, Inc. is a privately held integrated supply chain and logistics provider offering distribution and warehousing, supply chain technology and domestic and global brokerage services. To find out more about Legacy Supply Chain, Inc., visit the website at www.legacyscs.com . This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements may be generally identifiable by use of the words "believe", "anticipate", "intend", "estimate", "expect", "project", "may", "plans", "continue", "will", "focus should" "endeavor" or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements, which include statements regarding the conditions to closing of the sale of the SCO division being satisfied, the timing of such closing and the ability of Vitran to strengthen the business and operations of the LTL business, are based on current expectations and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Vitran's actual results, performance or achievements to differ materially from those projected in the forward-looking statements. Factors that may cause such differences include, but are not limited to, the ability of Legacy Supply Chain to secure sufficient debt financing to fund the purchase price for the SCO division, technological change, increases in fuel costs, regulatory changes, the general health of the economy, seasonal fluctuations, unanticipated changes in railroad capacities, exposure to credit risks, changes in labour relations and competitive factors. More detailed information about these and other factors is included in the annual MD&A on Form 10K under the heading "General Risks and Uncertainties." Many of these factors are beyond the Company's control; therefore, future events may vary substantially from what the Company currently foresees. You should not place undue reliance on such forward-looking statements. Vitran Corporation Inc. does not assume the obligation to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
CONTACT: Richard Gaetz, President/CEO Fayaz Suleman, VP Finance/CFO Vitran Corporation Inc. 416/596-7664
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV