TCT Logistics, TransForce Inc. form alliance
TCT Logistics has reached an agreement with TransForce Inc. wherein TransForce will acquire the assets and operations of Daily Motor Freight, an eastern Canadian LTL carrier.
TCT will also be granted the right to transport TransForce’s westbound truckload freight at market rates.
“The less than truckload sector is highly competitive, particularly in
Eastern Canada. TCT has made the decision to exit this market and partner with TransForce on the Eastern L.T.L. while maintaining its longstanding Western Canadian L.T.L. business. This strategy will allow TCT to continue to service its Western Canadian business and pay down debt. The TransForce transaction allows TCT the ability to extend the L.T.L. network in Quebec and the Maritimes for its Western based customers,” added Kenneth A. Lucas, TCT Logistics’ President and Chief Executive Officer.
“Daily Motor Freight is a perfect fit for TransForce and will provide us with positive results. This acquisition will reinforce our presence in the less than truckload (L.T.L.) sector in the Canadian and US markets”, stated Alain Bdard, TransForce’s President and Chief Executive Officer.
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