Vitran sells Frontier Transport
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TORONTO: Vitran Corporation Inc, a North American LTL transportation and supply chain service provider based in the GTA, has sold selected assets of Frontier Transport Corporation to Online Transport, based in Indianapolis, Indiana.
“For the last few years, Vitran has been focusing on its two core segments, LTL and supply chain operations. Frontier, our small owner-operator truckload operation, took a back seat. Therefore, we are extremely pleased with this transaction as the majority of our associates will continue to serve our many valued truckload customers, and our sole focus will be on our two core operations,” said Vitran’s president and CEO, Rick Gaetz.
On-Line Transport purchased 794 trailers while Vitran retains 174 of the newest trailers to be redeployed in the LTL operation. The proceeds and net working capital is approximately $5 million.
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