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				TransForce expands Alta oilfield business
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					Posted: 
					
						Aug 30, 2006 12:00 AM
					
					|
					Last Updated: Mar 27, 2012 09:34 AM
				
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				MONTREAL -- TransForce Income Fund has signed an asset purchase agreement to acquire Howard's Transport Services, a Stony Plain, Alta.-based oilfield services fleet. 

Howard's, which moves a variety of heavy oilfield related equipment, including drill rigs, has operated in western Canada since 1979 and generates annual revenues of approximately $20 million.

"The acquisition of Howard's Transport strengthens our capabilities in the heavy-hauling segment of the energy sector," said Alain Bédard, chairman, president and CEO of TransForce, said in a press release. "We are confident our unitholders will benefit from our increased participation in the vibrant oil and gas exploration business in western Canada."

Howard Moeller, president of Howard's Transport, will lead the company for the next year in an advisory role. 

Rendel Elock will move from TransForce's operating subsidiary Canadian Freightways to be General Manager
of Howard's Transport, and will report to Darshan Kailly, President and CEO of CF Managing Movement.

The acquisition is subject to customary conditions and approvals, and is expected to close by early September 2006.
			
				
				
			
				
				
			
			
			
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