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				Trimac Purchases Interest in Northern Resource Trucking
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					Posted: 
					
						Feb 8, 2012 02:38 PM
					
					|
					Last Updated: Mar 27, 2012 08:28 AM
				
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				<p>CALGARY &mdash; Trimac Transportation Ltd. announced that it has entered into an agreement to acquire a 29 percent interest in Saskatoon- based Northern Resource Trucking Limited Partnership (NRT) for a price of $9 million in cash and shares.</p>
<p>Trimac said that it will pay $1 million in cash, with the remaining $8 million to paid in Class A Common shares, pending approval by the Toronto Stock Exchange.</p>
<p>NRT provides trucking services primarily to the uranium mining industry in Northern Saskatchewan. Trimac and NRT have been partners for a number of years, with NRT providing overflow subcontractor support to Trimac.</p>
<p>Ed Malysa, president and COO of Trimac and current director of NRT, said that &quot;NRT is a strategic partner that is the leader in bulk transportation in Northern Saskatchewan. By exploiting Trimac's expertise and NRT's strong market position, the acquisition is expected to provide accretive earnings to Trimac.&quot;</p>
<p>Trimac is purchasing the interests in NRT from Trimac Investments LP, which acquired the interests in 2005.</p>
<p>A group of ten First Nations and M&eacute;tis partners from communities across Northern Saskatchewan are also partners.</p>
<p>The transaction is expected to close on March 19, 2012.</p>
<p>&nbsp;</p>
			
				
				
			
				
				
			
			
			
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					Im sorry to hear this. Really.
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