Trimac and Northern Resource Close Deal
CALGARY — The largest bulk trucking outfit in Canada, Trimac Transportation Ltd., announced today that it has closed its previously announced acquisition of a 29 percent interest in Northern Resource Trucking Limited Partnership for a purchase price of $9,000,000.
The "cash and share transaction" saw $1,000,000 of the purchase price paid in cash and $8,000,000 of the purchase price being settled by the issuance of 1,720,430 Class A Shares of Trimac.
NRT provides trucking services primarily to the uranium mining industry in Northern Saskatchewan. In addition to Trimac, the NRT limited partners are comprised of a group of ten First Nations and Métis partners from communities across Northern Saskatchewan. NRT has approximately 80 tractors, 140 trailers and 150 employees and owner operators.
Trimac is Canada's largest provider of bulk trucking services with operations from coast to coast. In addition, through its National Tank Services division, Trimac performs repairs, maintenance and tank-trailer cleaning services for both the Trimac fleet and for third party commercial customers. Trimac also provides third party transportation logistics services in Canada and the United States through its wholly owned subsidiary Bulk Plus Logistics.