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ShareCALGARY — Trimac Transportation Ltd. announced that it has entered into a letter of intent for the acquisition of all the issued and outstanding shares in the capital of Liquid Cargo Lines Limited (LCL).
Deal closing is still subject to the usual terms and conditions, but the ink is expected to dry in the third quarter of this year.
Ed Malysa, president and COO of Trimac, said "LCL is a very strategic acquisition on several fronts. LCL's team of approximately 45 professional drivers will allow Trimac to grow its chemical and asphalt bunker product offering in central and eastern Canada. In addition, we gain 10 professional mechanics to grow our National Tank Services (NTS) segment. The 13 acre property includes mechanical shop facilities, commercial tank washing (currently leased and operated by NTS), administrative offices and parking. The property is strategically located and will facilitate Trimac's future growth requirements in this key geographic market."
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